FinLab AG — Environmental & Social Information 2009

Feb 10, 2009

News Details

Corporate | 10 February 2009 10:35

Altira Group: World Bank subsidiary MIGA signs heretofore unique agreement with ADC African Development Corporation, an investment team of the Altira Group

Altira AG / Miscellaneous

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

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++ World Bank subsidiary MIGA signs heretofore unique agreement with ADC
African Development Corporation, an investment team of the Altira Group

++ Future direct investments by ADC in sub-Saharan Africa of up to
USD 150 million insured against political risks

++ Positive signal to investors with regard to future fundraising

The Multilateral Investment Guarantee Agency (MIGA), a subsidiary of the
World Bank that insures private-sector direct investments in developing
countries against political risks, has entered into a heretofore unique
framework insurance agreement with ADC African Development Corporation, an
investment team of the asset management company Altira Group. This includes
insurance for up to 20 future investments by ADC in small and medium-sized
companies in sub-Saharan Africa, focusing on the sectors banking, real
estate, information technology, telecommunications, agriculture and
services in general. The insurance volume encompasses up to USD 150 million
and protects investments made by the investment products managed by the ADC
investment team, and thus the investors therein, against loss of capital in
the event of transfer restrictions, breach of contract, war, civil unrest
and expropriation.

Michael Rieder, CEO of the Altira Group, sees the framework agreement with
MIGA as a milestone in the asset management company’s efforts to establish
Africa as a market for private equity with European institutional and
private investors: 'Particularly with investments in Africa, the topic of
political risks plays an important role. Through the heretofore unique
framework agreement with MIGA, we can now offer investors investment
products in the attractive future market of Africa that are associated with
a lower investment risk. Since the launching of the first investment
product by our ADC investment team at the start of 2007, we have already
carried out two successful rounds of fundraising. This year we now hope to
raise additional funds for a second investment product.'

Dirk Harbecke, manager of the ADC investment team, continues: 'Over the
next twelve months, we are planning to significantly expand our portfolio,
and have therefore negotiated an innovative framework agreement with MIGA
that reflects a corresponding volume of investments. As a result of the
international financial crisis, sub-Saharan Africa, particularly in the
banking and service sectors, currently offers outstanding investment
possibilities.'

The framework agreement is also part of MIGA’s current efforts to limit the
negative effects of the global financial crisis on developing countries.
Izumi Kobayashi, Executive Vice President of MIGA, emphasized this in her
remarks at the signing of the framework agreement in Washington last week.
ADC’s agreement with MIGA 'will help ADC to raise risk capital at a
critical juncture as Africa is currently seeing a precipitous decline in
foreign direct investment (FDI).' She added: 'ADC’s investments will
benefit small and medium-sized enterprises which generate the vast majority
of jobs in Africa.' MIGA further underscored its particular interest in
collaborating with ADC, since it believes the latter is committed to
sustainable development in Africa, inasmuch as it is not just investing
capital but also transferring know-how.

For its first investment product, the ADC investment team is managing
investments in three portfolio companies: Banque Rwandaise de Développement
S.A., the leading bank for mid-size business financing in Rwanda, SIMTEL,
the central service provider for electronic payment transactions in Rwanda,
and Iveri Payment Technologies, a specialist in electronic payment
transactions in South Africa that has many years of experience and
partnerships with Visa Card, Mastercard and leading African banks. The
investments in Banque Rwandaise de Développement S.A. and SIMTEL are
already insured through MIGA; Iveri Payment Technologies is to be the first
investment to come under the new framework agreement. For its first
investment product, ADC acquired 49% of the company at the end of October,
which inter alia has an exclusive agreement with Nedbank South Africa. The
latter controls 40% of the credit card market in South Africa.

MIGA’s press announcement can be found at:
www.miga.org/news/index_sv.cfm&#63aid=2217

++ About Altira Group

The Altira Group is an owner-managed company that is simultaneously an
exchange-listed asset management company. It manages money for
institutional and retail investors in the areas of private markets, public
markets and real estate.

The investment approaches focus newly forming markets and regions of the
future with above-average growth opportunities as well as established
markets undergoing major structural changes. Due to their specialised
knowledge and years-long experience, the investment teams of the Altira
Group are able to generate a sustainable above-average risk/yield profile
('high alpha strategies') in these markets by using an active investment
approach.

++ About ADC

ADC African Development Corporation, an investment team of the Altira
Group, invests with its investment products in small and medium-sized
private companies in sub-Saharan Africa with a focus on the banking, IT,
financial and other services industries. The ADC investment team follows a
long-term investment approach with active hands-on management of portfolio
companies, developing them according to international best practice
standards to become market leaders.

++ About MIGA

MIGA was created in 1988 as a member of the World Bank Group to promote
foreign direct investment into emerging economies to support economic
growth, reduce poverty, and improve people’s lives. MIGA fulfills this
mandate by offering political risk insurance (guarantees) to investors and
lenders, covering risks including expropriation, breach of contract,
currency transfer restriction, and war and civil disturbance. MIGA works
actively with investors and host countries, helping to resolve disputes
before they reach a claims situation. The agency also offers technical
assistance to its member countries and provides free online investment
information services. Since its inception, MIGA has supported nearly 600
projects in 100 developing countries, totaling USD 19.5 billion in
coverage. MIGA’s gross exposure stands at USD 6.7 billion.

Contact:
Altira Aktiengesellschaft
Olaf Meier
Head of Investor Relations
Phone: +49 69 719 12 80 123
E-Mail: olaf.meier@altira-group.de

10.02.2009 Financial News transmitted by DGAP

Language: English
Issuer: Altira AG
Grüneburgweg 18
60322 Frankfurt / Main
Deutschland
Phone: +49 (0)69 719 12 80 - 00
Fax: +49 (0)69 719 12 80 - 011
E-mail: info@altira-group.de
Internet: www.altira-group.de
ISIN: DE0001218063
WKN: 121806
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt

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