Press Release

| June 28, 2007

LeBoeuf Lamb Advises Lead Managers on Kingdom of Morocco Eurobond

(London, June 28, 2007) - LeBoeuf, Lamb, Greene & MacRae has advised joint lead managers, Citigroup Global Markets Limited and J.P. Morgan Securities Ltd. as Lead Managers on the Kingdom of Morocco's €500 million Eurobond.

The Kingdom of Morocco issued €500 million 5.375% Notes due 27 June 2017. It is only the second Eurobond issuance by the Kingdom of Morocco.

The LeBoeuf Lamb team advising the Lead Managers was led by London head of capital markets, Camille Abousleiman and included associates Patrick Lyons, Jessica Mider and Louis Abou-Charaf.  All are based in LeBoeuf Lamb's London office. Camille Abousleiman also advised the lead managers on the Kingdom of Morocco's inaugural sovereign bond issue in 2003.

Camille Abousleiman said, "The LeBoeuf Lamb team is delighted to have advised Citigroup and JPMorgan on the Kingdom of Morocco's second sovereign bond issue. We are pleased to have assisted the Kingdom of Morocco in accessing the international capital markets.

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383