Cash In On The Current Crop

1. Cash In On The Current Crop

2. Headlines “One billion face hunger as World Food Prices Soar”. The World Bank and aid agencies estimate food supply has to rise 50% by the year 2030 to meet climbing demand. June 2008 – Stephen Brown & Robin Pomeroy – Irish Independent “High prices to stay as demand for food soars, UN warns.”19/05/08 – David Blair – Irish Independent “The United Nations Food & Agricultural Organisation says world food production needs to increase by 60% to meet growing demand over the next 20 years. The world simply doesn't have enough arable land available to do this”. –Tom Dyson – Daily Wealth – 27/02/08

3. Demand

4. Demand Global Population Growth An extra 80 million inhabitants of the world each year that have to be fed Rising living standards in Emerging Markets In 2008, Morgan Stanley estimates Emerging Markets will account for over 60% of global GDP. Bio fuels – It is estimated the craze for bio fuels is about to chew up 20% of the worlds corn harvest and it is reported bio fuels are responsible for approx 1/3 of the rise in the cost of food “Last year the population of China consumed 60 million tonnes of meat (that’s 54 kg per head annually)... an increase of almost 300% since 1980. That’s roughly equivalent to 240 million cows, or 600 million pigs or 24 billion chickens. This trend is being repeated right across the developing world. In India 400 million people are now eating two meals a day instead of one”. Ronan McMahon, International Living, Sept 2008 “In takes roughly 9 kilograms of grain to produce 1 of beef” Mark McLornan , MoneyWeek, March 2007

5. Supply

6. Supply UN estimates at most, there is, 12% more arable land in the world that is not eroded or forested, and which is not currently being cultivated Climate change limiting supply(water shortages, drought, flooding) Several states in the US have already introduced water rationing, China feeds 22% of world’s population with 7% of world’s arable land. Every year losses 3% of farmland to urbanisation. Australia, longest drought in history. Africa, rising costs of fertiliser and seed preventing farming. Ukraine, recovering the ground lost after the fall of communism will take time and investment.. EconomicAgriculture food prices have been depressed for decades, since 1975 up until 2007 corn price has declined by 75% in real terms, economic behaviour is conditioned by pricing, no one invests in a world or declining prices, which has led to poor investment in farms and farm techniques Bio fuels In 200718% of US maize used for biofuel, capacity for 35% by 2009. The craze for bio fuels is about to chew up 20% of the worlds corn harvest.

7. Emerging economies as % of total world

8. Demographics

9. Indian

10. Bio fuel

11. Sustainable “Commodity bull market is near the beginning. In the twentieth century, commodities markets, both bulls and bears, lasted for cycles averaging 17-18 years”. 22/04/06 – Jim Rogers – Daily Wealth “Several major global institutions are estimating that roughly a third of the increase in food prices is down to the increased demand for biofuels and it might be double that. Over 800 million people go hungry every year… meanwhile, rich countries are already spending up to $15bn supporting biofuel production, and this is set to increase”. 07/08/08 – Brendan Keenan – Irish Independent

12. Agriculture a Strategic Asset “Over the summer, Iran bought more than 1 million tons of wheat from the U.S.” But still, the fact that Iran had to come to the U.S. is telling. They're buying the U.S. because it's the only thing they can buy." - Chris Mayer - Capital & Crisis – Sept 2008 “While shortages of key industrial and energy commodities are frightening, no sector will threaten global stability more than agriculture” – Kevin Kerr – Whisky & Gunpowder - June 2008 “Fertile soil – good dirt – may become more important to land values than oil or minerals in the ground.Some say it is already a strategic asset on par with oil. As Lennart Bage, president of a U.N. fund for ag development says, "Now fertile land with access to water has become a strategic asset.". So begins the scramble to secure farmland”. “Global grain inventories have halved, falling to 30 days of demand, a level lower than the 41 days seen in the UK at the height of the blitz”. – CF Electica Asset Managers “We have less the 30 days supply of grain in storage in the world at any one time. A major drought will create scarcity. We have no surplus stock of beef or milk powder or anything in intervention any more, like there used to be. I think food is becoming more & more important” - Padriag Walshe – IFA president

13. Experienced Team Achievements & Experience Our directors have been involved in and are in involved in successful farming enterprises in Australia, Argentina, New Zealand, United States, Serbia, Latvia, Lithuania and Poland. Jim McCarthy- He is a first generation farmer who after starting out with none of the traditional monetary or family backing has developed one of the largest grain farming operations in Castledermot, Co. Kildare. In 1996 Jim also set up a 10,000 hectare arable farm in Western Australia and is involved in farming in Argentina, New Zealand and the United States. Jim was the first recipient of a Nuffield Scholarship in Ireland and has always been at the forefront of adapting and developing new farming techniques, speaking at many industry events. Jim has also worked as a specialist advisor for Deutsche Bank for their 1billion Agricultural Fund. James Mulqueen - James is a qualified accountant and tax consultant having previously worked for FDC - Farm Development Co-operation on the accounts and tax advise side before setting up his own business 'Mulqeen & Associates' in 2005 in Newcastle West, Limerick. James manages a property folio valued at over €300 million on behalf of private clients and has vast experience setting up structures and dealing with foreign jurisdictions. James manages farm projects in Serbia, Latvia, Lithuania and Poland. Kevin O’Neill - Kevin is a Qualified Financial Adviser and worked for FDC - Farm Development Co-operation - Accountants & Financial Services on the wealth management side before setting up the Independent Financial Centre in Kilkenny in 2005.

14. Experienced Team John Trant - Co founder of the Independent Financial Centre, John has vast experience within the agribusiness sector and is a former bank manager with PTSB and Bank of Ireland. John’s speciality within the bank was on the agribusiness side. Michael Smith – After a long and distinguished career Michael brings his political and international contacts and agricultural experience to the investment. Former farmer, he has held several Ministerial posts – Department of Defence, Enterprise & Employment, Education, Environment, Science& Technology, Energy and Department of Agriculture. Along with other positions Michael was Chairman of the Committee of Agriculture for Tipperary North Riding County Council.

16. Where Value One of our directors Jim McCarthy, is involved in the management of an Irish lead Argentinean grain operation which has just released impressive results showing returns of up to 80% to investors over the last 2 years. Another one of our directors James Mulqueen has had similar success with farming operations in Eastern Europe.

17. Strategy • “We are not investing in farms; we are investing in farm enterprises that use state of the art technology to produce high quality agricultural produce. This is more than just a land investment, the farm enterprises we invest in will be able to deliver high yearly operating returns. This high yearly return will also deliver superior land price increases” • “We are investing in farm enterprises that have gone through the initial high risk start up phase, have a proven profitable track record and are looking to use the existing business and business model as a platform to expand. This gives the investor the comfort of a proven profitable business model, combined with the growth potential of a start up operation. Our main focus will be on established farm enterprises with values of €50 million+”.

18. Key reasons to invest • Targeting farm enterprises, which due to scale, technology and efficiency can deliver high yearly operating yields (targeting 8-12%pa) • Targeting farm enterprises, with potential for strong capital appreciation, through land price increases and rising farm values (targeting 10-20% pa) • Asset backed (land and farm values) • Best expertise advice – tax, legal & financial • Pension investment possible • Opportunity to add diversification to a well balanced and long term investment portfolio • The anticipated return on investment to the investor is estimated at 14.87% compound annual return rate. • This investment is not only rare in the Irish Market, but represents one of the very few opportunities internationally that gives combined exposure to agricultural commodities with a well diversified land and farm investment exposure

20. Forget Beach Front Forget City Centre Farm land is the next big Play

21. Thank you for you time and I would like to invite questions Information memorandum and application form