Capital Partners Group Ltd (CapitalPartners.co.uk)

1. Capital Partners Group Ltd(www.CapitalPartners.co.uk)

2. IMPORTANT NOTICE The information in this presentation which does not purport to be comprehensive, has been provided by Capital Partners Group Limited (“the Company). It is being delivered for information purposes only to a limited number of parties. Neither the Company nor any of its connected persons accept any liability or responsibility for the accuracy or completeness of, nor make any representations or warranty, express or implied, with respect to, the information contained in this presentation or on which this presentation is based or any other information or representations (whether written or oral) supplied or made in connection with any negotiations for the provision of financing to the Company or as to the reasonableness of any projections which this presentation contains, and any such liability or responsibility is expressly disclaimed. The information contained in this presentation is confidential and the property of the Company, which reserves the right to require the return of the presentation (together with any copies or extracts thereof) at any time. By acceptance hereof, you agree that neither you nor any of your agents, representatives, directors or employees will copy, reproduce or distribute to others this presentation, in whole or in part, at any time without prior written consent from the Company and this presentation and any further confidential information made available to you will he held in complete confidence and documents containing such information may not be used or disclosed without the prior written consent of the Company. This presentation is not intended to form the basis of any investment decision and should not be considered as a recommendation by the Company or any of its connected persons to any recipient of this presentation in relation to the provision of financing to the Company. Any final agreements entered into by the Company will not include any representation or warranty in respect of this presentation. Each person to whom this presentation is made available by the Company must make its own independent assessment of the Company after making such investigation as it deems necessary in order to determine its interest in providing financing to the Company. No person has been authorised to give any information not contained in this presentation or to give any representation or warranty. Only those particular representations and warranties which maybe made in a definitive written agreement, when and if such is executed, and subject to such limitations and restrictions as may be specified in such agreements, shall have any legal effect. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. In furnishing this presentation, none of the Company nor any of its connected persons undertake to provide the recipient with access to any additional information or to update this presentation or to correct any inaccuracies therein which may become apparent The Company reserves the right to negotiate with one or more prospective providers of finance at any time and to enter into definitive agreements in relation to financing or any other transaction related to the Company without prior notice to the recipient or any other party. The Company reserves the right, in its absolute discretion, without explanation and without prior notice to change the procedure for negotiation of financing and to terminate discussions and delivery of information at any time before the signing of any definitive financing agreement. In no event may a claim be made against the Company nor any of its connected persons nor any of their agents or employees as a result of any such change or termination. This presentation does not constitute an offer or invitation for the sale of securities or of any interest therein. This presentation does not and is not intended to form the basis of any contract for the provision of financing to the Company. Except as otherwise indicated, this document speaks as of the date of issue. Neither the delivery nor the fact that any financing may be provided by the recipient shall under any circumstances create any implication that there has been no change in the affairs of the Company or any of its subsidiaries or affiliates since the date hereof. In this notice, “connected person” means the Company, its shareholders, subsidiaries, subsidiary undertakings and affiliates and the respective directors, officers, employees and agents thereof.

3. CPG Limited Capital Partners Wealth Management (CPWM) Capital Partners Investment Bank (CPIB) Capital Partners America LLC (CPA) Capital Partners Europe Limited (CPE) Capital Partners Asia (CPA) Corporate Finance Capital Markets Organizational Structure-Summary Capital Partners Group Ltd (CPG) is divided by function into 3 main divisions: a Venture Capital Division, an Investment Banking Division and a Wealth Management Division, and by region between the United States, Europe and Asia. Division by Function Division by Region CPG Limited Capital Partners Venture Capital (CPVC) Incubation Angel Funding UK USA Malaysia Venture Capital Corporate-Venturing

4. Executive Summary-Venture Capital Capital Partners Group’s Venture Capital model brings together a new entrepreneurial model for start-ups covering the entire venture life cycle (from incubation to funding). • Capital Partners Group Ltd (CPG which comprises Capital Partners Europe Ltd in the UK, Capital Partners America LLC in the US and Capital Partners Asia in Malaysia) is a post-bubble firm launched after the collapse of the stocks markets in March 2000. CPG is authorised and regulated by the Financial Services Authority (FSA) in the UK. • Capital Partners Venture Capital Division became the first part of the group to develop around a new entrepreneurial model bringing together new technologies, a low cost (virtual) operational model and a very hands-on approach. • Our life cycle approach covers our own Incubation Services, our Private Equity Services (through Capital Partners Private Equity Ltd) and our Venture Capital Services (through Capital Partners Europe Ltd). • The firm has attracted and collaborated with a group of senior, highly experienced venture capitalists, investment bankers and technologists from world class firms, most of them at Chairman, CEO, or Director level. • CPG believes that the current market environment presents significant opportunities rather than threats. Further consolidation and restructuring will take place in the technology marketplace and a more sophisticated and experienced investment approach will be required. • CPG combines the best of the investment, advisory and technology worlds: experienced investment knowledge from its Venture Capital team; seasoned advisory and restructuring expertise from its Investment Banking partners and a clear and deep understanding of technology waves and breakthroughs. All this, with a “lean and mean” mentality.

5. Executive Summary-Investment Banking Capital Partners Investment Bank focuses on mid-market deals which are below the radar of large bulge bracket investment banks. • Capital Partners Investment Bank (which comprises a Corporate Advisory arm and a Capital Markets arm) focuses on mid-market opportunities which are usually uneconomical for large investment banks. We bring a group of experienced Investment Bankers together with leading online platforms. • Our Corporate Advisory arm (Capital Partners Securities Ltd) is FSA regulated and partner of Robert Fraser Group (a 65 years old UK merchant bank). CP Advisors provides high quality advice to small & mid-market clients leveraging our strong online delivery capabilities. • Capital Partners Securities focuses on providing advice in areas such as Mergers & Acquisitions (M&A), Private Placements, IPOs, Turnaround & Restructuring and Financial & Corporate Strategy primarily for Telecoms, Media and Technology (TMT) clients. • Capital Partners Investment Bank brings a wide range of online tools targeted to manage deals and clients (i.e. online calendar, forums, tracking tools, news, research, documentation filing tools (e-dataroom), online project-task manager, online contact list) all within a secure and password protected environment. • Our Capital Markets arm (Bond-Exchanges.com and eOfferings.com) has been launched to tackle current structural issues such as servicing, allocation-pricing, transacting-tracking and research in a more cost-effective and user driven environment for fixed income and equity offerings. We are also launching soon our Online Brokerage services in the US (http://brokerage.CapitalPartnersAmerica.com). • We have learnt the lessons from other online equity marketplaces which have helped us to avoid their mistakes. We have based our offerings in three main concepts: research driven, distribution driven and underwriting driven foundations.

6. Executive Summary-Wealth Management Capital Partners Wealth Management focuses on high net worth (HNW) individuals through our robust distribution platform and our personalised services. • Capital Partners Wealth Management (CPWM) focused primarily in the top end of the mass affluent segment and in the high net worth individuals seeking for highly personalised services while combining the strengths of our unique distribution and trading platforms. • Capital Partners currently represents Exprinter Group (an international Private Banking firm) in the UK. • Our services are being launched as we are completing all the agreements and operational contracts with appropriate parties. • CPWM is led by Antoine Bordelais who is a leading figure in the Wealth Management sector in the UK. He was the former CEO of Credit Suisse Wealth Management in the UK and former Managing Director of UBS Wealth Management (two of the world’s leading private bankers and wealth managers). • Our competitive advantages are around our differentiated business model combining the best of the traditional private banking with the unique technology solutions of the new breed of wealth managers.

7. Venture Capital Division

8. Our Approach Capital Partners’ Venture Division has developed a new business model based on a hybrid incubation-classical entrepreneurial support network. • Capital Partners Group Ltd (CPG) supports exceptional entrepreneurs with outstanding ideas through robust and proven business models. • CPG also supports new ideas and projects since its concept stage up to its deployment phase. Sometimes, these new ventures and projects are nurtured and incubated within CPG. • CPG will seek to obtain venture capital-like returns with a lower risk profile by directly investing in equity securities issued by new and developing businesses that: • Participate in fast growing technologies; • Can take a share of under-developed markets; • Would be attractive to strategic partners to minimise CPG’s exposure and to reduce the development, operational and marketing costs

9. Our Approach This new model has also an opportunistic angle by supporting ventures where our virtual operational and business development models are well suited. • Capital Partners Group Ltd (CPG) will in some cases support opportunities that may seem a “copycat project”, but where it can differentiate through a niche target strategy, channel partnerships to reduce marketing costs, and a virtual and low cost operational model. • Our channel partners are usually off-line players lacking a technology platform that can be provided by our backed ventures. In this way, the relationship becomes a win-win, by reducing costs (through the virtual sales team) and by bringing new revenue streams. • By having technology capabilities, Capital Partners Group can support its incubated ventures not just from the managerial and strategy perspective but also from the technology point of view. • Capital Partners Group will also look at opportunistic deals derived from ventures and models that have failed due to factors where we have a competitive advantage such as operational costs or required development investment.

10. Seed Funding Start-up Funding Development Funding Incubation Pre-VC Funding Venture Capital CPG Capital Partners Private Equity Ltd Capital Partners Europe Ltd Our Approach • Capital Partners can assist new ventures throughout the entire life cycle: from its inception as an idea (incubation services), its start-up funding needs (private equity services), to its development and funding exit strategy (venture capital services).

11. Venture Investment Classification Inter-Ventures Intra-Ventures Corporate-Ventures Our Approach • Our work covers different type of ventures depending on the sources and partners involved. We are involved in external independent ventures (Inter-Ventures), internal ventures (Intra-Ventures) and external company ventures (Corporate-Ventures).

12. Our Approach Capital Partners Group Ltd has developed a distinctive investment management process • Source opportunities • Select and support • Manage and create value • Exit Typical • activities of private equity/ venture capital • Receive and screen business plans • Obtain some referrals • Participate as co-investors in other funds • Perform formal accounting, legal, and tax due diligence • Acquire equity • Participate in board of directors meetings • Establish contacts, make introductions to vendors • Exit investment, sometimes without analysing long-term implications for the company • Capital Partners Group’s distinctive approach • Utilize proprietary network consisting of financial institutions, consulting firms, and key local individuals to source investment opportunities • Develop in-house concepts • Proactively identify opportunities • Analyse the opportunities using a clear set of investment criteria • Focus on opportunities where an activist role approach would add significant value • Fully fund those in-house concepts that pass the acid tests • Play an activist role in the portfolio companies, leveraging relationships with strategic partners • Pursue 2 primary exit options • Put option to sell to strategic partners or incumbents • Trade sale to third party-external strategic investors • Successfully exit from the investments Impact • Source better deals • Rapidly make a “go/no go” decision • Substantially increase the value of investments

13. Our People Capital Partners’ Venture Division has attracted and collaborated with a group of talented individuals (a sample of some of our VC team is listed below). • Robert Hance (former Senior Venture Capitalist and Angel Funding expert at Beer & Partners and several other financial institutions for over 10 years. He has a BSc(Hons) degree in Business Administration from Aston Business School at Aston University) • Navtej Madhok (former Goldman Sachs Associate, former a strategy consultant at Cambridge Strategic Management Group and former MCI Worldcom executive involved on M&A and Corporate Strategy . He has a BA(Hons) in Economics and Mathematics). • Paul Grant (Associate Director at Capital Partners Private Equity Ltd. He is competent entrepreneur who has grown, managed and sold several businesses and is experienced at raising private equity finance and in the start up and exit process). • Simon Chantrey is a seasoned Investment Banker having worked with Schroders, Barclays Merchant Bank (now Barclays Capital) and Natwest Markets (as a Director of its Corporate Broking division) and started his career as an Accountant with KPMG. Simon has also an extensive experience supporting start-ups and new ventures as the founder of Integra Ltd/Venture Advisers Ltd. He is a chartered accountant FCA and a FSI (Diploma) from the London Stock Exchange. 

14. Private-Exchanges.com Our Portfolio Capital Partners is incubating a portfolio of internal ventures in which it has equity control. eOfferings.com Businesses-Exchanges.com Bond-Exchanges.com Jobs4Consultants.com VideophoneShop.com Latinos.co.uk

15. Our Portfolio Capital Partners’ Venture Division has obtained equity participation in external ventures in which we have been involved assisting them with their strategies.

16. Our Portfolio …and we have also worked with several external clients assisting them with their start-up and development fund raising strategies.

17. Our Funding/Operational Capabilities • Incubation Services: Capital Partners is a founding (and voting) member of an incubator which is a JV with a leading University. • The rationale is to leverage very early stage R&D opportunities generated by this University. However the model has been extended to external ventures looking for incubation services. • The incubator is a member of the National Business Angel Centre (which is shareholder in it) and which provides it with access to an extensive network of angel investors. • Capital Partners Group expects to use it as the first stage of its life cycle model, for clients and ventures which are at a very early stage and usually looking for very small financing. • The model can be replicated to other universities which are orphans (without incubation facilities) and it could also serve as a step-stone for the development of Intellectual Property model derived from Universities’ academic departments.

18. Our Funding/Operational Capabilities • Pre-VC Services: Capital Partners Private Equity Ltd has developed a very strong angel finance (pre-VC) offering for entrepreneurs looking for finance. • Capital Partners Private Equity Ltd (www.CapitalPartners-PrivateEquity.com) or CPPE is currently one of the special advisers to the National Business Angels Network. • We have also a list of partner firms such as MBAngels, Venturesite.co.uk, CMR Cavendish and others, which bring our business angel reach to more than 5,000 investors in the UK (one of the largest in this country). • Similarly our deal-flow in this space is approximately 150 deals per month (and growing), which allows us to filter those opportunities which look more promising for angel funding. • Some of our forthcoming plans include the launch of an Angel Funding Vehicle leveraging the future Small Business Investment Schemes (SBIC) to be launch by the DTI after 2004. • Similarly, we expect to continue increasing our angel network by developing innovative recruitment initiatives. • Finally, we also intend to continue increasing our deal-flow, by collaborating with several key entrepreneurial networks in the UK. Special Adviser

19. Our Funding/Operational Capabilities • VC Services: Capital Partners Europe provides access to several leading Venture Capital and Private Equity Houses in the UK as partner firms. • Capital Partners Europe has strong connections to several leading Venture Capitalists in the UK and the US. • We have a trusted partner status with several firms, which gives us a privilege access to funding partners to review business plans and opportunities referred by us. • Our intention in the future is to leverage our existing deal-flow, our experienced people and our understanding of the marketplace to raise our own fund and become a principal investor.

20. Strategic Outlook • In summary, there is significant value in our VC Division’s business model as we have built equity stakes in several ventures as well as a revenue stream from retained clients. • Across the group, Capital Partners is involved in a significant number of projects now (internal and external) and our existing deal-flow continues to increase. • Most of the ventures backed by Capital Partners are fully operational. Therefore, we are not talking about a wish list or a paper strategy, but about products and services that can be tested and used now. • We expect to continue investing in new internal ventures and services as our model develops. • For external clients seeking assistance with their financial strategies, we have developed a sustainable revenue model from an increasing list of clients that have retained us to assist them with their funding needs.

21. Strategic Outlook • We have developed synergistic revenue sources such as our Investment Banking Division (Corporate Advisory & Capital Markets). • As part of a balance strategy, we have developed several additional revenue options for the group (primarily fee generating advisory services). • While the VC area is more resources intensive and with a long term view, our Investment Banking Division will be more short term focus and with a strong fee generating potential. • We expect to exploit synergies within the Group and with external partners for referrals and for M&A/IPOs/Placement opportunities (particularly as our clients develop through their life cycle). • .

22. Investment Banking Division

23. Our Proposition Capital Partners Investment Bank focuses on mid-market deals, which are usually below the radar of large Investment Banks. • Capital Partners Investment Bank focuses on small and medium sized deals, which are usually uneconomical for large Investment Banks. • Capital Partners Investment Bank (which comprises a Corporate Advisory arm and a Capital Markets arm) has attracted highly visible and credible Senior Investment Bankers from world class firms including former Managing Directors, Directors and VPs from leading Investment banks. • Our Corporate Advisory Arm (Capital Partners Securities Ltd) is regulated by the FSA and has a group of online secure and private tools aimed at managing deals and clients such as our virtual data-room, online documentation filing, e-calendars for roadshows, forums, newsletter, online project management, etc. • Our Capital Markets Arm brings a group of online platforms (usually provided by larger banks to more affluent clients) called our Balance Sheet Solution Suite to address our clients needs in the Assets, Liability and Equity offerings markets. • These platforms (100% controlled by Capital Partners) are: • Assets (www.Private-Exchanges.com for Assets Disposal and Asset Restructuring), • Liabilities (www.Bond-Exchanges.com for Fixed Income offerings and distressed liabilities) • Equities (www.eOfferings.com for new and secondary equity offerings) • Online Brokerage in the US coming soon (http://brokerage.capitalpartnersamerica.com) • Thanks to the extensive use of our technological tools, we can maintain a low cost operational structure.

24. Our People • Capital Partners Securities (CPS) has attracted a group of leading Investment Bankers. Please find below a sample of some of our team members. • Claudio Rojas (former Senior Investment Banker with Dresdner Kleinwort Wasserstein in London, Venture Capitalist with Capital Partners Group, MSc in Finance London Business School. MSc in Management at Sussex University, MBA from IESA Business School, BSc in Electronic Engineering and part-qualified Chartered Accountant CIMA). • Zsolt Raffai was formerly a Vice President at JP Morgan Investment Bank with their Telecommunications, Media and Technology team in London and previously with their Corporate M&A group in New York. Prior to JP Morgan, he was a senior investment advisor to Euroventures (a European Private Equity fund with assets in excess of US$300m). He holds an MBA from Cranfield University, UK; a Higher Degree in International Trade, KOTK, Hungary; and a Diploma in Telecommunications, Budapest Technical University, Hungary.  • Ajay Gupta is a former Telecommunications, Media and Technology investment banker at JP Morgan Chase in London. Prior to this he worked in the Global Finance and Mergers & Acquisition teams at JP Morgan Chase in New York. More recently he was a senior strategy consultant at Stern Stewart & Co., focused on the Telecommunications, Technology and Retail sectors. He has also worked in India setting up business for BBR India, an affiliate of BBR Systems, a Swiss multinational. He holds an MBA degree from London Business School and Bachelor of Technology from the Indian Institute of Technology (IIT). • Rafael Poole is a former Investment Banker with Citigroup (former Salomon Brothers) and former Investment Banker with Seymour Pierce Group Plc in London. He holds a MBA from Kellogg School of Management at Northwestern University, a MSc in Systems Engineering and a BSc in Industrial Engineering (University of Buenos Aires).  • Luca Tenuta is a former Investment Banker with Credit Suisse First Boston in London and with one of Italy leading Investment Banks called Banca Intesa and for Banca Comerciale Italiana.He holds a degree in Economics from Universita’ “La Sapienza” – Rome, Italy.

25. Corporate Advisory Arm Capital Partners Securities Ltd is intending to provide high quality advice to small & mid-market clients leveraging our strong online delivery capabilities. • Our Corporate Advisory offering combines a mix between a traditional advisory work with the extensive use of our online capabilities: • Password Protected area for our clients • Virtual Data Rooms (with Calendar, Secured file storage, discussion board, task manager, etc) • Online Research access • Electronic Newsletter • Web meeting rooms • etc • TMT Clientele: Capital Partners Corporate is a focused player in the Telecoms, Media and Technology sectors providing M&A, IPO, Private Placements and outstanding financial advisory services to demanding clients in challenging transactions. • Turnaround & Restructuring: Firms in distress situation or undergoing a restructuring process can rely on Capital Partners Securities to ensure the sustainability of their business models. Capital Partners has also a team of Senior Venture Capitalists with strong track record in turnaround and managing companies in trouble. This will be complemented with our Asset Restructuring and Disposal platform (Private-Exchanges.com) and our Businesses for Sale platform. • Corporate Financial Strategy: Capital Partners will be also  involved in areas such as business valuation, strategic option analysis  and other Strategy related work for clients in need of a direction and a vision. We see ourselves as partners where our clients' success becomes our own success.

26. Corporate Advisory Arm Capital Partners Securities Ltd is intending to provide high quality advice to small & mid-market clients leveraging our strong online delivery capabilities. Password protected File storage for clients’ documents Task Manager Online Calendar Premium Research Web meeting Rooms Password protected area and access to Virtual Data Room (Discussion board, etc)

27. Corporate Advisory Arm Some of our online tools are shown below (and you can gain access as a guest). e-Calendars: Road-shows, appointments Secure Intranet: Password protected for secure communications Web meeting rooms: Conference meetings and collaboration tools Virtual Data-room: File storage, Project Management

28. Corporate Advisory Arm This includes our Asset Restructuring and Disposal online platform (Private-Exchanges.com).

29. Corporate Advisory Arm Private-Exchanges.com brings a new concept in online Asset Restructuring. • Private-Exchanges.com allows our clients and partners to dispose distressed and unwanted assets through our Direct Auction Engine. • This can be done in a secure and private platform (only those invited can gain access). • The platform can be tailored to our clients’ needs. • The main advantages is to maximise the potential value remaining in the assets through a competitive bidding process.

30. Corporate Advisory Arm Private-Exchanges.com allows clients to monitor 24x7 their online Asset Disposals.

31. Capital Markets Arm On the other hand, our Capital Markets arm has been launched to tackle current structural issues such as servicing, allocation-pricing, transacting-tracking and research in a more cost-effective and user driven environment. • Capital Partners’ Capital Markets arm is formed by two main areas: a fixed income and an equity marketplace. • The Fixed Income marketplace is called Bond-Exchanges.com and it will allow clients and partners to trade fixed income instruments such as Bonds and distressed liabilities. • The Equity marketplace is called eOfferings.com and it will allow clients to issue new (and secondary) equity offerings online. Particularly, eOfferings.com can be a valuable online tool to address the issue of book-building and allocation during pre-IPO and IPO processes. • Both platforms are secure, private and fully tailored to our clients and partners needs.

32. Capital Markets Arm Bond-Exchanges.com is a new fixed income marketplace for Bonds and distressed liabilities. • The Fixed Income marketplace is called Bond-Exchanges.com and it will allow clients and partners to trade fixed income such as Bonds and distressed liabilities. • Clients can have a daily ticker about Bonds issues and news. • Bond-Exchanges.com focuses on 4 main areas: servicing, allocation-pricing, transacting-tracking and research. • Servicing: it provides a more cost effective platform to attract, register and service institutional investors, advisors and issuers than pure traditional channels. In addition to the clear cost advantages, it also provides a more tailored and user friendly interface for end users (anywhere & anytime). We will provide tools for Issuers and Advisors to interact directly with potential Institutional Investors. • Allocation-Pricing: it provides an orderly and fair allocation mechanism. it can also provide an auction based pricing mechanism for Issuers and Advisors according to the demand. • Transacting-Tracking: Institutional Investors, Advisors and Issuers will be able to do transactions and track their investments through Bond-Exchanges.com from wireline and wireless devices. • Research: Capital Partners has started providing leading edge research to clients to ensure our investment process is backed by sound and high quality research driven knowledge.

33. *Online Tools include: • Web meeting rooms for issuers and investors • Web documentation filing • Web discussion boards • Web calendar for events • Web road-show • Web tracking tools • etc Capital Markets Arm Bond-Exchanges.com brings a series of online tools to facilitate the trading of Bonds. Registration Discussion Forum Clients Protected area Login Up to the hour news Daily ticker Pricing and allocation tool Daily Treasuries Yield Chart

34. Capital Markets Arm Bond-Exchanges.com also provides a more transparent and fair (auction-based) allocation mechanism.

35. Capital Markets Arm Bond-Exchanges.com brings a daily news update of Bonds issues.

36. Capital Markets Arm Bond-Exchanges.com’ clients, issuers and partners will have access to online tools to facilitate the exchange of information and to manage their new issues.

37. Capital Markets Arm eOfferings.com is an electronic offerings marketplace for equity offerings and IPOs. • eOfferings.com is the Equity Capital Markets arm of Capital Partners Group Ltd (www.Capital-Partners.co.uk). • eOfferings has two main objectives: to serve Capital Partners’ own offerings pipeline and to leverage its existing platform and capabilities for regulated partners. We expect to achieve FSA & SEC regulatory approval through our regulated partners. • eOfferings.com focuses on 4 main areas: servicing, allocation-pricing, transacting-tracking and research. • Servicing: eOfferings provides a more cost effective platform to attract, register and service institutional investors, advisors and issuers than pure traditional channels. In addition to the clear cost advantages, eOfferings also provides a more tailored and user friendly interface for end users (anywhere & anytime). We will provide tools for Issuers and Advisors to interact directly with potential Institutional Investors. • Allocation-Pricing: eOfferings provides an orderly and fair allocation mechanism. eOfferings can also provide an auction based pricing mechanism for Issuers and Advisors according to the demand. • Transacting-Tracking: Institutional Investors, Advisors and Issuers will be able to do transactions and track their investments through eOfferings from wireline and wireless devices. • Research: Capital Partners has started providing leading edge research to clients to ensure our investment process is backed by sound and high quality research driven knowledge.

38. *Online Tools include: • Web meeting rooms for issuers and investors • Web documentation filing • Web discussion boards • Web calendar for events • Web road-show • Web tracking tools • etc Capital Markets Arm eOfferings brings a wide range of new services including calendar of events, forums, tracking tools, news, research, online road-shows, web meeting rooms, documentation filing tools, etc. Online Brokerage (to be launched soon) News & Research Online Tools* Password Protected Registration IPO Calendar Discussion Board & Forums Password Protected Login Area Market Information IPO News Allocation Area Trading Area Tracking Area

39. Capital Markets Arm eOfferings.com provides a fair and transparent (auction-based) allocation mechanism. This is a key differentiation factor due to the book-building scandals during the 90s.

40. Capital Markets Arm eOfferings’ users and partners can also monitor and track online their portfolio of investment through our Portfolio Manager.

41. Capital Markets Arm We have learnt the lessons from other online equity marketplaces which have helped us to avoid their mistakes. Competitors eOfferings • eOfferings.com was launched in 2001, with a virtual and inexpensive infrastructure and very low cost base. It has used its owns development team to build its web presence inexpensively. It will leverage deals from Capital Partners Group Ltd and external equity partners throughout its virtual low cost operations and outsourced services. • eo.net launched in 2000 with a high cost base (i.e.. ex-senior investment bankers, luxurious offices, extensive use of consultants such as CAP Gemini to develop its website). It is running out of cash (from its original £6m raised). It tried to convert itself into an i-Bank to increase revenues from underwriting. Closed in 2002 • eOfferings.com is focusing on servicing institutional investors and on providing a private label version of its marketplace platform to other financial service institutions. • OffRoadCapital.com, suffered from a big slowdown as a result of market conditions and dependence on high net-worth retail investors. It had to fire 1/3 of its workforce in Feb 2001. • e-start.com, focused primarily on internet opportunities and it was affected by the burst of the internet bubble. It also established loose agreements with “partners” which did not provide enough traction to this model. • eOfferings.com does not depend only on internet investments. It expects to provide equity (to selected partners) to ensure common interests in this venture. • iii.co.uk, although not a direct competitor, it is a complementary model. Heavy dependence on advertising and lack of transactional capabilities led to the company being sold to AMP July 2001 (even with 1.5m users). • eOfferings.com will not rely on advertising as it main source of income. It is establishing transactional capabilities with an online brokerage partner and its technology platform.

42. Capital Markets Arm Three interesting examples of online Investment Banks. Distribution Driven Research Driven Underwriting Driven www.nothing-ventured.com (Charles Stanley Group) www.eOfferings.com (Capital Partners Group) www.wrhambrecht.com (Hambrecht & Quist)

43. Capital Markets Arm We expect to launch soon our Online Brokerage offering in the US with a broker-dealer partner at http://brokerage.capitalpartnersamerica.com. Capital Partners America

44. Our Clients Capital Partners has also provided corporate advisory services to leading firms.

45. Wealth Management Division

46. Executive Summary Capital Partners Wealth Management focuses on high net worth (HNW) individuals through our robust distribution platform and our personalised services. • Capital Partners Wealth Management (CPWM) focused primarily in the top end of the mass affluent segment and in the high net worth individuals seeking for highly personalised services while combining the strengths of our unique distribution and trading platforms. • Capital Partners Group currently represents Exprinter Group (a leading international Private Banking firm) in the UK. • This Division is being launched now as we are completing all the agreements and operational contracts with appropriate parties. • CPWM is lead by Antoine Bordelais who is a leading figure in the Wealth Management sector in the UK. He was the former CEO of Credit Suisse Wealth Management in the UK and former Managing Director of UBS Wealth Management (2 of the world’s leading private bankers and wealth managers). • Our competitive advantages are around our differentiated business model combining the best of the traditional private banking with the unique technology solutions of the new breed of wealth managers.

47. Our People Capital Partners’ Wealth Management Division is being launched and it is completing its Board of Directors and Management team. This Division is led by Antoine Bordelais, a well respected and well known figure in this sector. • Antoine Bordelais (former MD with UBS Warburg and former UK CEO of Credit Suisse Wealth Management and former Managing Director of UBS Wealth Management in the UK. MBA, Warwick Business School and MSc in Knowledge-Based Systems, Edinburgh University). Non-Executive Director and Lead of our Corporate Venturing effort.