Press Release

Fieldstone Africa Awarded as a Highly Commended Financial Consultancy of the Year in Africa Investor Investment Awards 2005

December 1, 2005 - Fieldstone Africa was awarded as Highly Commended - Financial Consultancy of the Year, by Africa Investor Investment Awards 2005. The award is based on Fieldstone’s continued and consistent involvement and commitment to financial transactions in Africa, adoption of global best practices in Africa and support for the development of Africa’s capital markets.

Fieldstone Africa is the Johannesburg based business of the Fieldstone Group, a specialist international Investment Banking firm focused on the energy sector and infrastructure related industries. The majority of Fieldstone’s energy assignments, which span the entire spectrum of investment banking activities, from mergers and acquisitions, including the valuation of the assets involved, to the raising of debt and equity financing with assets or project cash flows used as collateral, have been in energy generation, transmission and distribution.

Fieldstone advised the Government of Mozambique on a valuation and strategy for the restructuring and privatization of the 2 075 MW Cahora Bassa Dam project and has recently been selected by the Government of Mozambique to implement the restructuring and privatization process. Fieldstone is currently advising IPC on the development of a 685 thermal fired IPP in the Akwa Ibom State in Nigeria, and is working with YTL on the DME tender. Recent projects include advising Globeleq on the acquisition of Sidi Krir CCGT power plant in Egypt, and advising the Government of Uganda on the restructuring and concession of the Ugandan electricity distribution system.