BARWA TO CONTINUE RECEIVING ACCEPTANCES RELATING TO ITS OFFER TO ACQUIRE ALAQARIA SHARES UNTIL 23 MAY 2010

Barwa Real Estate Company Q.S.C. (“Barwa”) announced the closing of its offer to acquire the share capital of Qatar Real Estate Investment Company Q.S.C. (“Alaqaria”) on 14 April 2010, it has continued to receive acceptances from Alaqaria shareholders in accordance with the original terms of the offer. To date Barwa has received further acceptances from shareholders representing 3.4% of Alaqaria’s share capital, bringing the total acceptance level to 88.4% .

Barwa will continue to receive acceptances from Alaqaria shareholders who have not yet accepted the offer until 23 May 2010, the date when Alaqaria will hold its extraordinary general meeting at which shareholders will approve (i) conversion of Alaqaria into a private joint stock company therefore being delisted from the Qatar Exchange and (ii)  conversion of the remaining shares of Alaqaria to Barwa shares (at the exchange ratio of 1.1 Barwa shares for each Alaqaria share). The notice of the extraordinary general meeting to be held on 23 May 2010 has been published in the newspapers on 5 May 2010 and is available on the official website of the Qatar Exchange.

Shareholders can continue to accept the offer by returning the signed form of acceptance to the head office of Alaqaria at Museum Street, Old Salata, Doha. It is expected that the new Barwa ordinary shares will be issued to the remaining Alaqaria shareholders by the end of May 2010.

Source: Qatar Exchange