The Dubai Financial Market (DFM) has announced the listing of Air Arabia, incorporated in Sharjah, United Arab Emirates. Company shares begin trading on Tuesday (July 17, 2007) under the trading symbol �Air Arabia,� which will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of Air Arabia was finalised and approved by the DFM in collaboration with the Emirates Securities and Commodities Authority. Mr. Rashid Al Shamsi, Deputy Chairman of Dubai Financial Market, attended the listing ceremony.

Ownership of Air Arabia�s shares is available to UAE and GCC nationals up to 100 per cent, while foreigners are allowed to own company shares at a maximum of 49 per cent.

Air Arabia, the first and largest low cost carrier in the Middle East and North Africa, provides high frequency services on short- and medium-haul point-to-point routes within the Middle East and North Africa (MENA) region, and the Indian subcontinent, from its base at Sharjah International Airport. The company was incorporated in March 2003.

Along with international commercial air transportation, Air Arabia provides a number of ancillary services, including travel agency and tourist related services, passenger transport services, air cargo services and document transfer services.

The company�s authorised capital is AED 4.66 billion while its paid-up capital is AED 4.66 billion. The company has issued 4.66 billion shares, with each share valued at a par value AED 1.

Essa Kazim, Chairman of DFM, said: �Air Arabia is the 52nd company to list its shares on the DFM and the fourth within the �Transportation� sector. We are proud to see the first listing of an airline on our bourse, which is an indication of the successes of our efforts to widen investment options across sectors for a vast spectrum of investor segments.�

Adel Ali, Air Arabia Board Member and Chief Executive Officer expressed his gratitude to be associated with the Dubai Financial Market. �DFM is a leading stock market and we are pleased with our listing. Based on both the individual success of Air Arabia and the growing demand for commercial and leisure travel in the region, we are planning to expand the company�s current operating fleet, enter new markets and continue our growth strategy.�

He added: �The carrier is financially sound and has a strong management team that has significantly grown business and profitability in a remarkably short span of time. Air Arabia aims to expand its scope of operations and invest in the infrastructure associated with the fleet expansion.�

Air Arabia�s net profit for the three months ending March 31, 2007, stood at AED 43.4 million. For the same period, the company posted a turnover of AED 252 million. The airline served 580,000 passengers during the same period. The company�s net profit increased 33 per cent between the fourth quarter of 2006 and the first quarter of 2007. During the same period, passenger traffic increased 17 per cent.

Ends

About Air Arabia

Air Arabia was established in February 2003 by an Amiri decree issued by His Highness Dr. Sheikh Sultan Bin Mohamed Al Qassimi, Ruler of Sharjah and Member of the Supreme Council of the United Arab Emirates. The company began operations in October of the same year.

Based in Sharjah and with a fleet of nine Airbus A320 aircraft, Air Arabia serves 35 destinations across the Middle East, North Africa, Indian Subcontinent and Central Asia, including Bahrain, Egypt, India, Iran, Jordan, Kazakhstan, Armenia, Kuwait, Lebanon, Nepal, Oman, Pakistan, Qatar, Saudi Arabia, Sri Lanka, Sudan, Syria, Turkey, Bangladesh and Yemen.

Air Arabia is modeled after leading American and European low-cost airlines and is customised to local preferences. Its main focus is to make air travel more convenient through Internet booking and offering the lowest fares in the market without sacrificing on service or safety standards.

About Dubai Financial Market

Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.

For further information, please contact: Tarek Fleihan / Ghaleb Zeidan Mobile: (+97150) 5198511 / 7782286 ASDA'A Public Relations Dubai, UAE Tel: +971-4-3355969 Fax: +971-4-3344556 E-mail: t.fleihan@asdaa.com, g.zeidan@asdaa.com