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Abu Dhabi's Sorouh Strikes Strategic Alliance With MGM and Rubicon to Explore the Development of Unique Entertainment Opportunities

ABU DHABI, United Arab Emirates, March 27 PRNewswire — Sorouh Real Estate, one of the largest real estate developers listed on the Abu Dhabi Securities Market with a market cap close to AED 24 billion ($6.5 billion USD), today announced it has signed an agreement with Metro-Goldwyn-Mayer Studios Inc. (MGM) and Rubicon, Inc. (Rubicon) to explore the development of entertainment opportunities within Sorouh's real estate portfolio.

The first project, intended to be a large-scale entertainment destination, is to feature unique concepts and will establish new industry benchmarks, by presenting a blend of western and Middle Eastern cultures and traditions that are unique to the region.

Sorouh Real Estate Vice Chairman and Director General of the Abu Dhabi Authority for Culture and Heritage, Mohammed Khalaf Al Mazrouei said: "Through our partnership with MGM and Rubicon, we hope to leverage the unique opportunities available within our real estate portfolio and, ultimately, raise the profile of the entertainment destinations offered by Sorouh for the Emirate of Abu Dhabi. Both MGM and Rubicon are well known and respected players in the entertainment industry and we are extremely proud to have been given the opportunity to be part of such a unique alliance."

This agreement marks a new phase in the location-based entertainment space for MGM announced in the past twelve months. In spring of 2007, MGM signed a licensing agreement for MGM Studio World, the studio's first retail, dining and entertainment center in Shanghai with Tianhong Real Estate and Tengxun. MGM Studio World Shanghai is under construction and targeted to open in spring 2010 to coincide with The World's Fair Expo in Shanghai.

Sorouh Real Estate, committed to the development of tourism in Abu Dhabi, is currently developing several projects in the region including Shams Abu Dhabi; a completely new self-sustaining city for 55,000 residents — a city of canals and parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape; in addition to numerous mixed-use developments throughout Abu Dhabi.

Working collaboratively, Sorouh, MGM and Rubicon will develop a broad and varied entertainment platform and creative content for a high quality themed entertainment and leisure facilities. The collaboration will take a phased approach to creating and implementing entertainment concepts and theme-related real estate developments. The strategic alliance will also explore other business opportunities, seeking to establish a long-term, multi-faceted relationship.

Mr. Al Mazrouei said: "This partnership is a testament to Sorouh's continuous commitment to providing added value to both customers and investors alike. It is our hope that this partnership will enhance Sorouh's position to further cement Abu Dhabi's reputation as a leading tourism and lifestyle destination."

"We are pleased to embark on this significant relationship with one of the premier land developers in the United Arab Emirates," said Harry Sloan, MGM's Chairman and CEO. "MGM's brand and myriad of successful entertainment franchises are recognized around the world and, in working with Rubicon on this project, we can develop and create unique entertainment destinations in the region."

Fawaz H. Zu'bi, Chairman of Rubicon, said: "Rubicon is truly proud to be a partner in this very important program. We see the clear vision of Abu Dhabi's government and understand the underlying desire of Sorouh to create a balanced environment integrating relevant aspects of culture, media and entertainment in their developments to meet the needs and desires of coming generations in the United Arab Emirates as well as the region. Along with MGM, we will work to create such a balanced environment with a view to serve the long term objectives of our partners."

MGM, a worldwide producer and distributor of motion pictures, television programming, home video, interactive media, music and consumer products, signed an agreement with Jordan-based Rubicon to start a relationship that involves the establishment of a consumer products business throughout the Middle East and North Africa region as well as location-based entertainment initiatives. The pairing of MGM and Rubicon aims to further the growth of the entertainment industry throughout the region.

About Sorouh Real Estate P.J.S.C.

Abu-Dhabi based Sorouh was established on 26 June 2005, with a capital of AED 2.5 billion. Today, it is one of the largest real estate developers listed on the Abu Dhabi Securities Market with a market cap close to AED 24 billion. It is one of the most widely-held issues with approximately 40,000 shareholders. Sorouh employs in excess of 200 highly qualified professionals operating in the field of master-planning and master-development.

Sorouh now has in excess of AED 45Bn of projects under development. These include:

SHAMS Abu Dhabi, Sorouh's flagship project — a AED 25Bn landmark development on Al Reem Island. A complete new city for 55,000 residents, SHAMS Abu Dhabi will be a self sustaining city of canals and parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape.

The Gate District at SHAMS Abu Dhabi — a cluster of eight towers located at the entrance to SHAMS Abu Dhabi. Architecturally renowned worldwide, the AED 11Bn residential, office and retail development is designed as a gateway to the peninsula from Al Reem Island. The Gate District also includes the 74 storey Sky Tower which will be a pinnacle of luxury for its residential and commercial occupants when completed. Located next to the Sky Tower, the 65- storey Sun Tower is home to elegant residential spaces with captivating views of the Gulf and Abu Dhabi skyline.

Alghadeer - a development located in Saih As Sidairah between Abu Dhabi and Dubai. Expected to be home to over 18,000 people, the 3 million sq m site is a complete community offering easy access to the UAE's commercial centers airports and ports.

Sorouh is also developing the Golf Gardens close to the Abu Dhabi Golf Club, the Tala Tower on Al Reem Island, Saraya development on the Abu Dhabi Corniche as well as the Abu Dhabi Aviation Authority residential project and the Al-Shamkha national housing project.

In addition to other achievements, Sorouh was awarded three prestigious accolades during 2007. It won the "Best New Business" category at the Middle East Business Achievements Awards, the "Cityscape Best Commercial Project" for the Gate District, and also won the "CNBC Arabian Property Award" for Best development for Central Park at Shams Abu Dhabi.

In 2008, Sorouh was awarded the "Best Customer Service Company - Real Estate category" by the Middle East Excellence Awards Institute. The award recognizes Sorouh for its unmatched customer care and for the innovative services provided to its customers.

These awards are indications of the positive direction Sorouh has taken and will always continue to take forward.

About Metro-Goldwyn-Mayer Inc.

Metro-Goldwyn-Mayer Inc., through its operating subsidiaries, is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music and licensed merchandise. The company owns the world's largest library of modern films, comprising around 4,100 titles. Operating units include Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., Ventanazul, MGM Television Entertainment Inc., MGM Networks Inc., MGM Domestic Networks LLC, MGM Distribution Co, MGM International Television Distribution In, Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Worldwide Digital Media, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 120 countries. MGM ownership is as follows: Providence Equity Partners (29%), TPG (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit www.mgm.com.

About Rubicon

Rubicon is the MENA Region's premier company in interactive multimedia e- education and 3D animation/ CGI. Since its inception, Rubicon has gone full thrust in the creation and development of innovative entertainment and edutainment solutions based on cutting edge technologies in the fields of multi-media programming and CGI.

For more information, please contact: Jeff Pryor Executive Vice President, Corporate Communications MGM Tel: +1-310-449-3446 Email: jpryor@mgm.com Shaza Albein Assistant Marketing Manager Sorouh Real Estate P.J.S.C. Tel: +971-2-6978956 Mob: +971-50-3130130 Email: salbein@sorouh.com Farah Nami Junior Account Executive Hill & Knowlton Tel.: +971-4-3344930 Fax: +971-4-334-4923/33 Email: farah.nami@hillandknowlton.com Yasmine Muna PR & Corporate Outreach Rubicon Tel.: +962-6-4655300 Fax: +962-6-4616800 Email: Yasmine.Muna@rubicon.com.jo

SOURCE Metro-Goldwyn-Mayer Inc.

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