Istithmar World awarded ‘Best In-House Counsel – Private Equity/Investment Sector’ by DCCG Awards recognise outstanding performance of in-house lawye

As further recognition of its adherence to international best practice in the investments sector, Istithmar World, the investment arm of Dubai World, today announced that it has been awarded the “Best In-house Counsel – Private Equity/Investment Sector” by the Dubai Corporate Counsel Group (DCCG), the first in-house counsel group in the Middle East region. The award was presented to Nick Hornung, General Counsel at Istithmar World, at the DCCG 2008 Corporate Counsel Awards. Istithmar World’s parent company Dubai World was also recognised at the awards function. The awards, presented during a formal ceremony held at Westin Dubai Mina Seyahi, Beach Resort & Marina, recognise the UAE’s leading in-house counsel for outstanding achievements across the full spectrum of in-house legal responsibility. Hornung at Istithmar World was chosen as the best performer in the private equity/investment sector by a panel of international industry experts for demonstrating a sustained commitment to the profession and serving as a leader in the field of corporate counsel. "Nick Hornung's dedication, foresight and leadership and sound understanding of the private equity and investments business make him an outstanding recipient for this award,” said David Jackson, Chief Executive of Istithmar World Capital. “His legal influence on Istithmar World’s investment decisions, policies and procedures has helped the company lead the industry standard for quality and integrity. On behalf of the entire Istithmar World team, I congratulate Nick on this remarkable accomplishment and thank him for his continued commitment to Istithmar World and the legal community in the region." The DCCG 2008 Corporate Counsel Awards recognise outstanding achievers in the corporate counsel profession across 12 categories, which have been developed after detailed industry and market consultation. The winners were selected from a large pool of nominations submitted by the legal community at large in response to an open call for nominations. Founded in June 2007, the DCCG is the first in-house counsel organisation for corporate counsel practicing in the Gulf region. Led by its 12-member Steering Committee, the DCCG has quickly established itself as a leading legal group serving more than 250 in-house counsel and having established valuable partnerships with leading international and national law firms, executive search firms and publishers. -ends- About Istithmar World: Established in 2003, Istithmar World is the investment arm of Dubai World. In the five years since its inception, Istithmar World has built a broad portfolio of successful investments in markets ranging from North America and Europe to Asia and the Middle East, as well as across a variety of sectors, including consumer, industrial and financial services. Based in Dubai and with offices in Shanghai and New York, the firm invests through its three separately-managed divisions: Istithmar World Capital, Istithmar World Aviation and Istithmar World Ventures. Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China. Istithmar World Aviation invests in fast-growing sectors of the aviation and aerospace industry, including airlines, manufacturing, engineering and financing. Istithmar World Ventures is a venture capital platform that benefits promising start-ups and greenfield ventures by providing them with the necessary financial and managerial resources. For further information about Istithmar World, please contact: Malik Abdullrahman Asda'a Burson-Marstellar Riyadh, KSA T: