Announcements

November 21st, 2005

Aldwych Successfully Secures Finance of €12 million

LONDON, November 21, 2005 - Aldwych International, an energy company active in the growing economies of Sub-Saharan Africa and South Asia, today successfully secured financing for general development and administration. This capital investment allows Aldwych to focus on its main goal of supporting sustainable development and economic progress through the supply of reliable and affordable electricity.

Aldwych was established in 2004, for the purpose of developing, owning and operating power generation, transmission and distribution projects in the emerging economies, primarily of Africa and Asia.Co-founders, Mark Fitzpatrick and Helen Tarnoy, jointly expressed their appreciation to Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO)  www.fmo.nl  and Aldwych Investment Group (AIG, a special purpose vehicle for private equity funds), for the confidence placed in the initial Aldwych team.

Further, both reaffirmed their enthusiasm for the business strategy, and assured everyone that the existing and future Aldwych team would be one of the most experienced groups of individuals in the business and be totally dedicated to the enormous task ahead.The demand for quality project developers in the markets being targeted by Aldwych is immense, which is the rationale for FMO’s investment and why FMO has so enthusiastically supported Aldwych from the beginning. FMO cited the wealth of industry and developing world experience within Aldwych as a key reason for its confidence that Aldwych can help bring a number of new ventures to realisation. FMO is anxious to invest in those projects when they do.While expressing a keen interest in diversifying some of its investment portfolio into developing markets AIG is approaching the Aldwych investment as simply good business. In order for such things to be sustainable, they have to make sense from a business perspective, competing for venture capital with all the other investments in the world. Aldwych has put forth a sound business plan, with which AIG is quite bullish. AIG’s investment in Aldwych is first and foremost a business investment and only secondarily something to be construed as good works.