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