Released on = May 29, 2007, 1:57 am

Press Release Author = ADGECO

Industry = Construction

Press Release Summary = Kyeryong Business Group had recently signed an alliance with
the ADGECO GROUP of U.A.E

Press Release Body = While many leading businesses and the capital of the world are
rushing into the U.A.E., to join in its fast growing market, the Kyeryong Business
Construction Industrial Co., Ltd. (KRC), one of the major construction and
engineering companies of the Republic of Korea, is now fully operational in U.A.E.

KRC had recently signed an alliance with the ADGECO GROUP of U.A.E.

KRC is one of the top blue chip companies in Korea which has been maintaining a
sustained high growth with sound financial structure and efficient business system.

KRC has been recognized in Korea to sustain a sound financial and technical
foundation for a rapid growth. Its financial credibility has been classified as
"Class A Company" by the Korea Credit Ratings for many years, and it has sustained
the annual growth rate of over 10% for the last six (6) years.

With its efficient management skills and highly-trained engineers and technicians,
KRC has achieved numerous major construction projects, which includes: The World Cup
Stadium in Daejeon, Korea; rail road for Seoul-Busan High Speed Train; Subway in
Daejon; housing projects in Korea and Russia for over 15,000 house holds under its
original brand name "Richeville."

In recognition of its contribution for the economy and technology in Korea, KRC has
received hundreds of medals, awards, citations. To name a few, they are: The Order
of Industrial Service Merit for two (2) times, Presidential Citation for Excellence
in Industry, Grand Prize for Architectural Culture and Award by the Chairman of
Association of Architects in Korea.

Mr. In Koo Lee, CEO and Chairman of KRC, who had served as a member of the 13th and
15th National Assembly of Korea and as the chairmen of local Chamber of Commerce and
Industry, stated that entering into a business in U.A.E., is a significant step to
fulfill his company's long-cherished desire "to make good use of its experience and
technologies accumulated in the past 37 years and contribute not just to its home
country but to the world." He also showed his confidence that KRC would meet the
various needs of U.A.E. and play a significant role in contributing to the future of
U.A.E.

THE ADGECO Group is one of the most prominent companies in U.A.E. in the field of
construction business, and has been actively engaged in several major
construction and real estate development projects in U.A.E.

Mohamed Dekkak, the founder, Chief Executive Officer and Managing Partner of the
Group is very optimistic with this new alliance. He revealed strategy of the
Group to invest in the emerging real estate market of the UAE.

ADGECO Group will benefit from the innovative experience of KRC to meet the high
expectation of local and global market.


Web Site = http://www.adgeco.ae

Contact Details = THE ADGECO GROUP
Three Sails Building, Corniche Road
P.O. Box 549, Abu Dhabi, U.A.E.
Tel.: +971 2 6813111 ; Fax.: +971 2 6811184 ;
Email: info@adgeco.ae
Web: www.adgeco.ae