NEW CHINA CAPITAL MANAGEMENT

The Cathay family of funds (“Cathay”) is one of the most successful and experienced providers of growth capital to Chinese companies with an unsurpassed track record of realized capital events. Since 1992, Cathay has completed over 40 investments and has completed initial public offerings (“IPOs”), trade sales and other capital events with a cumulative transaction value over US$5 billion. In 2007 alone, Cathay completed five IPOs of its portfolio companies on international stock excha... nges. Current assets under management exceed US$1.5 billion. Cathay typically originates, structures, and acts as the lead equity investor providing growth capital to companies across a wide range of industries including consumer products, financial services, media and advertising, infrastructure, transportation, natural resources, chemicals, technology, pharmaceuticals, property development, light manufacturing and heavy industry. Where needed, Cathay provides expertise in restructuring, including restructuring offshore. With new capital from Cathay, portfolio companies are able to expand their existing operations rapidly, often doubling or tripling earnings in just a few years. Capital provided by Cathay has been used to increase working capital, enter into new business lines and regions, expand plant and equipment and otherwise reinforce a company’s strong competitive attributes, to make the company more attractive for follow-on investment or for a value-realizing capital event