EREDENE CAPITAL PLC

Eredene Capital PLC is an equity investor in Indian infrastructure operating companies and holds its investments as part of an investment portfolio. Its investment portfolio includes minority stakes which are accounted for as investments and majority stakes which are consolidated. It has no restrictions or maximum exposure limits on its investments and would intend, on average, to hold its investments for at least seven years until the underlying business reached full maturity. Its investment policy is focused on -

• Indian infrastructure - primarily investment in Ports and Port Services, Logistics and Warehousing, Transportation and Real Estate sectors.
• Investment in businesses with a potential to generate substantial capital growth providing a long-term capital appreciation and a steady dividend yield.
• Target individual investments typically up to US$35m and equity holdings of greater than 20 per cent.
• Active role in investments through board participation and by sourcing experienced and trusted local partners. The Management Team of Eredene has significant experience in the target sectors.
• Investment in a diversified portfolio of infrastructure assets and further diversification via balanced regional geographical exposure within India with a range of co-investment partners.
• Gearing utilised at SPV level with the investee company raising debt with no recourse to Eredene.

Project Team

Eredene has a five-man project team based in Mumbai which is headed by Captain Nikhil Naik.
Nikhil was until March 2006 Regional Director of P&O in India and he has a successful record in sourcing and managing large infrastructure projects throughout South Asia.

Investment Partners

Eredene has an exclusive agreement with an Indian investment partner to source new projects in nine states in Eastern India, Apeejay Surrendra Group, the owner of Typhoo Tea and India's largest private ship owner. Apeejay has significant land banks and deal pipelines. Eredene has set up a joint venture company with Apeejay Surrendra Group - Apeejay Infra-Logistics Pvt. Ltd. – with whom it has entered into two investment agreements.

Eredene also has an established investment partner in the Southern State of Tamil Nadu, the Sattva business Group,  www.sattva.in, with whom it has made two joint investments, and another established partner in the Northwestern State of Gujarat ,Contrans Logistic, with whom it has also made two joint investments.