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Fraport AG (FRG)

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Friday 07 December, 2007

Fraport AG

Fraport Applies for Annulment of Recent Manila ...





FRANKFURT, Germany, December 7 /PRNewswire/ --

- Compensation Claim at the World Bank to be Reopened

    FRA/rap> Within the prescribed time period, Fraport AG's executive board
has now filed for an annulment of the decision made in August 2007 by the
International Centre for Settlement of Investment Disputes (ICSID) of the
World Bank in Washington, D.C. The Fraport supervisory board fully supports
this action.



    With a two-to-one decision, the ICSID tribunal dismissed
Fraport AG's compensation case against the Republic of the Philippines for
expropriating the terminal project in Manila. Supported by renowned legal
firms, an analysis of the ICSID decision revealed that the decision violated
Fraport AG's fundamental rights in numerous points.



    If the annulment application is accepted, the company will
decide whether it will resubmit to the World Bank its compensation claim
against the Republic of the Philippines.



    
    For More Information, Please Contact:
    Fraport AG Frankfurt Airport Services Worldwide
    Robert A. Payne, B.A.A. - Manager International Press
    Press Office (Dept. UKM-PS), Corporate Communications (UKM)
    60547 Frankfurt am Main, Federal Republic of Germany
    Tel.: +49-69-690-78547; Fax: +49-69-690-60548;
    E-mail: [email protected]; Internet: http://www.fraport.com


                                                                                                                                                                                         

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