Fund raising proposal: SIAM INVESTMENT FUND III L.P.

Fund raising proposal: SIAM INVESTMENT FUND III L.P. May 2004

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Table of Contents • Summary Terms and Overview • Track Records of SIF II and SIF • Fund Concept • Fund Strategy, Investment Examples & Deal Flow • Siam Investment Fund III L.P. • The Advisors and Sponsors • Biographies • Contact Information

Section A Summary Terms and Overview

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Summary Terms Name of Fund Siam Investment Fund III L.P., a Cayman Islands exempted limited partnership Investment Manager Finansa Capital Ltd., a Cayman Islands exempted company with limited liability Fund Sponsors Finansa Fund Management Ltd. (FFM) and Capital Z Investments L.P. or a successor fund (CZI) General Partner: Siam Investment Partners III L.P. a Cayman Islands exempted limited partnership Target Total Commitments US$100m CZI’s Anticipated Commitment US$10m FFM’s Commitment US$5m Commitment Period Five years from the final closing Term Ten years, subject to two one year extensions Expected Investment Size c. US$10m per investment Management Fee 2% Threshold Return 8% per annum Carried Interest 20% of any net capital appreciation above the threshold return Offering Expenses Limited Partners to reimburse the Investment Manager on a pro-rata basis, the aggregate reimbursement not to exceed US$500,000 This profile is for information purposes only and does not constitute an offer to subscribe to partnership interests in Siam Investment Fund III. An offer to subscribe will be made solely by means of a confidential memorandum.

SIF III: Management Structure

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Overview Background Siam Investment Fund III L.P. (SIF III) is a successor fund to Siam Investment Fund II L.P. (SIF II) which is approaching full investment. SIF II was launched in 2000, raising US$57m. Objective To provide investors with access to the exceptional returns available through timely, opportunistic investment in selective private equity transactions in Thailand. Investment Economy in Transition: Past - Coping with crisis. Present – Cyclical recovery. Future – Structural growth. ThesisResurgent Business Confidence: A revival in business optimism is spurring a revival in corporate transaction activity and expansion. Restructuring/Rehabilitation to Continue: An improving economy facilitates the resolution of residual business problems. Improving “Exit” Environment: Better capital markets, both for listing and refinancing, and growing demand from local investors for rehabilitated assets. Why SIF III?Successful Track Record: SIF II and its predecessor, SIF, have exceptional records of both making and exiting private equity investments in Thailand over the past seven years. Sponsors are Investors: The Sponsors intend to be material investors in the Fund. Finansa Fund Management will commit US$5m and CZI anticipates US$10m. Value Addition: The Finansa Group has the critical mass of resources locally to support deal flow, monitoring and exits. Single Country Approach: The success of the Funds launched to date is due to the depth of the in-country resources. Comparable resources are not available on a regional basis.

Section B Track Records of SIF II and SIF

Siam Investment Fund II L.P. (SIF II) • Established in December 2000 with total commitments of US$57m, SIF II’s objective was to capitalise on investment opportunities in Thailand through privately negotiated equity investments. • Managed by Finansa Capital Ltd., the core sponsors of the Fund were CZI and ABN AMRO Asia Capital Investment Ltd. Other investors in SIF II included Norfund, Finnfund, the FMO and Mitsui & Co. • To date, c. US$40m has been committed and current transactions may lift this to c.US$50m in coming months: • Pranda Jewelry : A 25% stake • Thailand’s largest jewelry manufacturer and exporter. Listed on SET. • Evason Phuket Resort and Spa : A 20% stake • A 285 room resort hotel on the southern tip of Phuket. Unlisted. • Loxley Business Information Technology : A 15% stake • A leading IT services company. Scheduled to list on SET in 2Q 2004. • Peace Canning : 80% stake • Market leader in the manufacture and sale of pickled vegetables. Unlisted. • Sansiri : A 5% stake • One of the leading, listed property developers. Listed. • F&B Foodservice (Thailand): A 76% stake • Leading food service company, targeting the Thai catering industry. Unlisted.

Siam Investment Fund II L.P. (SIF II) The investment returns to 30 June 2004 for SIF II are shown in the table below. (i) Valued at Book Value: 2003 P/E < 2.0x, but comparables trade at c. 8.0x forward P/E (ii) Net of fees, expenses and carry

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Siam Investment Fund (SIF) • The Siam Investment Fund was launched in 1996, as the South East Asia Frontier Fund, raising US$25m from international institutional investors. It is a closed-end fund listed in London. • The Fund’s original mandate was to seek long-term appreciation through investment primarily in unlisted companies in the SE Asia region. With the onset of the financial crisis in 1997, the management saw exceptional investment opportunities emerging in Thailand and as a result the investment focus of the fund shifted. • The successful implementation of this new strategy resulted in SIF being amongst the top performing Thai funds. • Significant investments include: • TISCO Finance • Nation Multimedia • SE-Education • Natural Park • SIF has a 10 year life. • The fund’s advisor, Finansa Fund Management, is also an investor in the Fund.

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt SIF: NAV Performance Since Inception Note (1): The SIF Net Asset Value per share (NAV) is adjusted for dividends Note (2): To obtain the relative, the adjusted NAV is divided by the SET Index in US$ terms and re-based to 1.0 at the inception of the fund

SIF: NAV Performance Since Inception Note: SIF NAV is the actual net asset value per share. The NAV is quoted in US$

Section C Fund Concept

Fund Concept Thailand is enjoying a structural and cyclical economic recovery which will underpin overall investment returns. The Thai economy has staged a strong recovery since the Asia crisis and is currently one of the fastest growing economies in Asia. Growth has been spurred by government policies to stimulate domestic demand and by buoyancy in exports. The election of Prime Minister Thaksin Shinawatra and a majority Thai Rak Thai Party Government was a seminal event. Thailand currently enjoys significant surpluses on its current account and a strong fiscal position. Interest rates are expected to remain subdued in the absence of inflationary pressure. There has been a material improvement in the financial health of the banking system. Banks are shifting management focus from “old” to “new” loans. Improvements in (overall) corporate profitability have been driven by cost cutting, improved productivity and (more recently) volume growth. In the area of Private Investment, few sectors (notably construction) have rebounded. The investment recovery now looks set to broaden.

Fund Concept (cont.) An economy in transition 1998-2003 was a period of post-crisis adjustment and recovery. Business confidence was fragile, the banking system weak and reforms were necessary to spur restructuring and rehabilitation. Business owners/managers focused on survival. Today, business confidence is strong, the banking system is functioning to the extent that new loan activity is picking up, capital markets are strong and businesses are looking to expand. Longer term growth will be sustained by structural reforms. Investment opportunities in the next phase of Thailand’s growth Thailand “today” offers investment opportunities both in the final “clean up” and in the next stage of the country’s growth. Business restructuring will continue to be a feature of the Thai investment environment. A stronger economy and higher asset valuations facilitate the resolution of “old” problems. Many early restructurings were temporary remedies. A period of sustained economic growth will underpin equity returns and valuations. The exit environment has improved. Better capital markets enhance prospects both for listing and refinancing, while there is growing demand from local investors for rehabilitated assets.

Section D Fund Strategy Investment Examples Deal Flow

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Fund Strategy • Siam Investment Fund III L.P. will seek to provide investors with high returns through leveraging the expertise, experience and business relationships of the advisors to source and effectinvestments in assets perceived as offering significant upside potential. These assets will likely include: • Negotiated placements of new shares as part of the financial restructuring of businesses • Negotiated placements of new shares or equity related instruments to fund business expansion • Management Buyouts • Strategic disinvestments • Minority interests • Partnership capital • Assets offering scope for rehabilitation and transfer to a Property Fund The Fund will typically adopt an active stance, with board representation and the ability to take control where warranted. The advisors will seek to further enhance value through imposing higher standards of overall financial management and providing specific assistance in balance sheet structuring.

Example 1: Pranda Jewelry Plc. • In June 2001, SIF II bought 5 million shares of Pranda through a private placement at Bt28 per share. This represented a 25% interest. The total investment was Bt140m (US$3m). • The Company has meanwhile pursued an internal reorganisation and renewed focus on its core strengths. • Earnings have staged a strong recovery, reflected in a significant recovery in the share price. • The Fund began liquidating its investment in February 2003. • Investor IRR 110%, GainUS$9.5m, 4.1x Invested Capital. • Pranda Jewelry is Thailand’s leading integrated jewelry manufacturer and exporter. • The Company was founded in 1972 and listed on the SET in 1990 • The Company encountered severe financial difficulties in the wake of the Baht devaluation in 1997, hit by a combination of exposure to foreign currency loans, a drop in demand and excessive inventory levels. • Subsequently, the Company entered a lengthy restructuring process with debt rescheduling and debt write-offs. As part of this, creditors pressed for an increase in share capital.

Example 2: The Peace Canning (1958) Co., Ltd. • In the end, SIF II received a) cash of Bt520m (US$12m) through debt refinancing, corresponding to its original investment and b) retained an 80% stake in the Company. • Peace Canning has projected sales of Bt1,000mn (US$25m) in 2005 and projected net earnings of Bt120m (US$3m). The Company is planning to list on the SET in 2H 2005. • On a preliminary P/E valuation of 8.0x, the SIF II’s stake will be worth Bt570mn (US$14mn). • Unrealized IRR 26%, Value: US$9.8m, 1.4x Invested Capital. • Peace Canning, the country’s leading manufacturer of canned pickled vegetables, filed for bankruptcy in 2001. • In 2002, SIF II acquired Peace Canning’s combined debts of Bt3,000m (US$72m) from creditors for a cash consideration of Bt520m (US$12m). SIF II became the sole creditor and took control of the bankruptcy process. • SIF II, jointly with Peace Canning, submitted a debt composition request to the Bankruptcy Court and this was approved. • SIF II reduced the debt outstanding to Bt520m (US$12m) and swapped the balance into an 80% equity stake in the company. • In 2003, the Fund Advisor negotiated a 7–year term loan (MLR -2%) with a financial institution for Bt520m (US$12m) to refinance the outstanding debts.

Example 3: Sansiri Plc. • In August 02, SIF II subscribed to Sansiri’s Bt2,520m (US$60m) capital raising at Bt4.41 per share. This capital represented 67.7% of the new equity base. At the same time, the warrant option arrangement with Starwood was terminated. The subscription price implied a P/BV of 1.2x. • The fundraising transformed the Company’s prospects, allowing it to proceed with a series of new housing projects at a time when housing demand was increasing rapidly. Sansiri is now recognised as a leading housing developer. • Following the private placement, there was a substantial re-rating of Sansiri shares. Currently, the share price is Bt16.3. • Investor IRR 82%, Gain US$4.9m, 2.0x Invested Capital. • Sansiri, a listed real estate development company, was one of the first companies to complete a restructuring. In 1999, Starwood Capital joined as a strategic partner. Holding 7% of the equity initially, Starwood had an option to increase its stake to 51% through a warrant exercisable at Bt5. • During 2002, Sansiri shares traded as low as Bt3. With little prospect of Starwood exercising its warrant, the Company was unable to operate satisfactorily. Management identified both the need for new capital and the need to cancel the warrant. Canceling the warrant was critical to the proposed recapitalization.

Example 4: F&B Food Service (Thailand) Ltd. • F&B Food Service is a full-line food distribution company targeting the hotels and restaurants segment. Established in 1999 by the Booker Group, the business was acquired by Royal Ahold in 2002. In 2003, Royal Ahold took a strategic decision in 2003 to withdraw from the Thai market. • In October 2003, SIF II acquired a 76% stake in the Company and an existing shareholder loan for a combined Bt90m (US$2.3m) and committed to management to invest a further Bt160m (US$4.0m) on expanding the business into a national franchise. • A 24% stake was gifted to existing senior management by Royal Ahold. SIF II also put in place a management incentive scheme which enables management to acquire additional shares as the shareholder loan is converted into equity. • At the date of acquisition, F&B operated three warehouses (Bangkok, Laem Chabang and Had Yai). Three new warehouses will be added in 2004 (Koh Samui, Chiang Mai and Bangkok II). The expansion will establish F&B as the leading company in this rapidly expanding business segment. • The intention is to exit the investment through a public listing in 2006 or by a trade sale. • SIF II has board representation.

Example 5: TISCO Finance Plc. • TISCO Finance is a leading, listed Thai consumer finance company, with a strong position in auto finance. The economic collapse in 1997 resulted in a surge in the company’s non-performing loans and the need for a balance sheet restructuring. • In May 1999, under a government sponsored recapitalisation scheme, TISCO issued 600m new convertible preference shares at Bt10, raising Bt6,000m (US$150m). Half of the new shares were acquired by the Ministry of Finance and half acquired by private sector investors. This increased the total number of shares in issue to 700m. The private investors also received a covered warrant (on the MoF’s holding). • A consortium led by Finansa and including SIF and China Development and Industrial Bank acquired the private sector allocation. A representative of Finansa was appointed to the TISCO board. • The case for reviving TISCO was strong and the successful recapitalisation allowed the company to participate in the subsequent industry revival (with fewer competitors). TISCO’s earnings have enjoyed a sustained increase since the refinancing. • The market was quick to recognise the transformation in TISCO’s position and prospects and the shares enjoyed a dramatic rerating.

Example 6: Other Investments • Between 1997 and 1999, SIF invested US$5.3m in a 14% stake in Nation Mulltimedia (NMG), the listed publishing and media group. The investment was made through private placements of new equity and rights issues. • NMG encountered sever financial difficulties in the wake of the 1997 economic crisis, compounded by an ill-judged investment in a real estate project. • While provisioning against losses, the Company expanded its media reach (into television) and exploited a strong recovery in advertising spending. • For a brief period in late 1999, following the merger of AOL and Time Warner, the shares enjoyed a dramatic “.com” rerating and while the shareprice bubble eventually burst, SIF’s overall investment return, based on a gradual unwinding of the position from 2000 onwards remained strong. • In April 1998, SIF acquired a 18% equity interest in SE-Education (SE-ED), a listed book wholesaler and retailer with a total investment of US$2.1m • SE-ED had been damaged in the economic crisis, as had many of its competitors. The capital injection by SIF enabled the Company to quickly establish itself as the market leader and management embarked on an aggressive expansion plan which resulted in SE-ED opening retail outlets in all of Thailand’s 72 provinces. A strategic tie-up with the rapidly expanding hypermarket industry further strengthened SE-ED’s market position. • SE-ED’s revenues and earnings grew strongly after the recapitalisation, contributing to a significant appreciation in the Company’s shareprice. • The investment was liquidated through sales on the stockmarket.

Section E Siam Investment Fund III L.P.

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Why this Fund? The SiamInvestment Fund III L.P. can be distinguished from other Thai Funds through: • Strong sourcing capability of Thai assets means the Fund is not dependent on external brokers for deal flow • Direct experience of restructuring listed and unlisted companies • A track record of value creation in restructuring-related investments • A track record of high returns to investors • Direct ties with companies involved in rehabilitating dormant/distressed assets • Direct experience in transferring assets to Property Funds • Strong domestic Corporate Finance relationships in Thailand • Advisors that can demonstrate a disciplined investment process adopting best international practices of due diligence and risk management • Sponsors who intend to be significant investors in the Fund

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Investment Process Source Investment Investment Committee Laurence Cheng – CZI Vincent Fan – CZI Eugene Davis – FFM Vorasit Pokachaiyapat –FFM Other Representatives Info Memo Meets Initial Criteria? No Yes Investment Proposal for Internal Review Yes Yes No No Preliminary Term Sheet Negotiation Final Due Diligence Final IC Approval Invest Key: Investment Criteria: Identifiable Exit, Attractive Returns Due Diligence: Financial and Management analysis Exit Investment at Target IRR

Section F The Advisors and Sponsors

Finansa was founded in 1991 and is now the group holding company The principal activities of the group are institutional fund management and investment banking, undertaken by three wholly owned subsidiaries, Finansa Fund Management, Finansa Securities and Finansa Credit Finansa Plc was listed on the Stock Exchange of Thailand in September 2002 The Finansa Group maintains offices in Indonesia, Singapore and Vietnam to support the fund management and investment banking activities in the region File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Finansa Overview Finansa Plc. Finansa Vietnam 100% 100% 100% 100% Finansa Securities Finansa Credit Finansa Fund Management Finansa Singapore 50% 85% PT Finansa (Indonesia) Finansa Capital 50% CZI

Finansa Overview (cont.) • Finansa Fund Management : Manages three equity funds and one debt fund. Two of the equity funds are listed closed-end funds and focused on Thailand and Vietnam, respectively. The third equity fund is a private equity fund for Thailand. The debt fund covers Asia (ex-Japan) A total of c.US$140m was sourced from major offshore institutions. Key strengths in this business are a successful track record in private equity investment in Thailand, experience in investment in Vietnam and experience in trading Asian distressed debt. • Finansa Securities : An SEC licensed brokerage company and one of the strongest and most active investment banking firms in Thailand. The company offers an extensive range of advisory services for both equity and debt transactions. The qualities of the team are increasingly recognised in the number, size and variety of mandates being won. • Finansa Credit : In October 2002, Finansa acquired Primus Finance, a local finance company owned by Ford Credit International; it has since been renamed Finansa Credit. This was an important step for the group, both complementing and strengthening the existing activities. The acquisition provided a foothold in the debt markets in Thailand. The company operates in the wholesale markets and focuses on debt trading opportunities. Finansa Credit plans to merge with Bangkok First Investment Trust as a prelude to upgrading to a Bank as part of the new Financial Master Plan.

Finansa Fund Management : Profile • 12 Professional Staff plus 8 Support Staff • Headquartered in Bangkok with offices in Hanoi, Ho Chi Minh City and Singapore Finansa Fund Management The Asian Debt Fund • The Asian DebtFund • US$22.5 million • Open Ended Fund buying distressed debt in non-Japan Asia • Initial closingon 31 December 2003 • Siam Investment Fund • US$25 million • Closed End Direct Investment Fund for Thailand • London Listed • Launched in 1996 • Major Investments • SE-Education • Nation Multimedia • TISCO Finance • Siam Investment Fund II, L.P. • US$57 million • Private Equity Limited Partnership for Thailand • Sponsored by CZI and ABN AMRO Asia Capital Investment • Launched in 2000 • Major Investments • Pranda Jewelry • Evason Phuket Resort and Spa • LOXBIT • Sansiri • Santiphab • F&B Food Service • Vietnam Frontier Fund • US$50 million • Closed End Direct Investment Fund for Vietnam • Dublin Listed • Launched in 1994 • Major Investments • Vietnam Industrial Investments • Indochina Building Supplies • Luks Cement

Capital Z: Overview A Private Equity Firm that Manages over US$4.0 billion • Offices in New York, London and Hong Kong • 32 investment professionals • Managed by five founding partners • Two primary investment partnerships • Capital Z Investment Partners – sponsor of private equity and hedge fund managers • Capital Z Financial Services – direct private equity investor in financial service companies • Manage capital on behalf of over thirty institutional investors • Zurich Financial Services has committed over US$2.9 billion

Capital Z: Overview (cont.) • The leading private equity investor focused on financial services • Manages a US$1.8 billion private equity fund raised in 1999 • Sponsor of Starview Capital, a hedge fund-of-funds that manages over US$1.6 billion • Majority owner of HedgeFund.net and PrivateEquityCentral.net, the leading Internet sites for hedge fund and private equity investors • The largest and most experienced sponsor of hedge fund managers • Invested approximately US$380 million to sponsor 8 hedge fund managers that manage over US$3.0 billion • The largest and most experienced sponsor of private equity fund managers • Committed approximately US$875 million to sponsor 13 private equity fund managers that manage over US$2.6 billion

Capital Z: Overview (cont.) Sponsor Outstanding Private Equity Managers • Sponsorship Approach • CZI provides large cornerstone capital commitments and value added support to obtain minority ownership in private equity funds • Outstanding Managers CZI looks to sponsor firms that have the potential to emerge as the industry leaders in their respective markets • Focused Investment Strategies • Unique Market Access • Thorough Due Diligence and Structuring Capabilities • Ability to Add Value to Their Investments

Section G Biographies

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Biographies Mr. Eugene Davis Chairman, Finansa Group Mr. Davis, age 48, is a co-founder of the Finansa Group and is Chairman of Finansa Plc. He was previously Managing Director of Chase Manhattan (Thailand). Earlier positions include being Director of Fixed Income Trading with The First Boston Corporation in Tokyo. Mr. Davis is a United States Citizen and resides in Bangkok. Mr. Vorasit Pokachaiyapat Managing Director, Finansa Group Mr. Pokachiyapat, age 41, is a co-founder of the Finansa Group and is Managing Director of Finansa Plc. He was previously responsible for IPOs, M&A and privatisation advisory work with Chase Manhattan (Thailand). Earlier positions include Head of Research as TISCO. Mr. Pokachaiyapat is a Thai Citizen and resides in Bangkok. Mr. James Marshall Research Director, Finansa Group Mr. Marshall, age 49, is the Research Director for the Finansa Group. He was previously Research Head of a tie-up between Nomura International and Unit Trust of India in Mumbai. Earlier positions include Head of Research of Capital Nomura Securities in Bangkok. Mr. Marshall is a United Kingdom Citizen and resides in Bangkok. Mr. Craig Wilson General Counsel, Finansa Group Mr. Wilson, age 47, is the General Counsel of Finansa Plc. He was previously with the international law firm White and Case and before that, the Asian Development Bank. He received his J.D. from Harvard Law School and his A.B from Yale College. Mr. Wilson is a United States citizen and resides in Bangkok.

Biographies (cont.) Ms. Rachanee Mahatdetkul Vice President, Finansa Group Ms. Mahatdetkul, age 38, has been a member of the Finansa Private Equity team since 1994 and worked previously as a financial analyst with American Appraisal (Thailand) She graduated form Assumption University with a degree in Business Administration and completed an MBA at Santa Clara University in the US. Ms. Mahadetkul is a Thai citizen. Mr. Teerath Pratumsuwan Vice President, Finansa Group Mr. Pratumsuwan, age 36, has been a member of the Finansa Private Equity team since 1995 and worked previously Assistant Treasurer at Siam Cement. He graduated from Chulalongkorn University with a Degree in Accounting and completed an MBA at the City University of New York. Mr. Pratumsuwan is a Thai citizen. Ms. Aliya Chupinijsak Vice President, Finansa Group Ms. Chupinijsak, age 32, has been a member of the Finansa Private Equity team since 2000 and worked previously as an Investment Banking Associate with Bankers Trust in Hong Kong. She graduated form Brown University, Rhode Island with a degree in Economics and completed an MBA at University of Michigan in the US. Ms. Chupinijsak is a Thai citizen. Ms. Keiko Sebata Vice President, Finansa Group Ms. Sebata, age 41, has been a member of the Finansa Private Equity team since 1993 and worked previously as a securities analyst win with James Capel in Tokyo. She graduated form Sophia University in Japan with a degree in Business Administration. Ms. Sebata is a Japanese citizen and resides in Bangkok.

Biographies (cont.) Mr. Kenneth L. White Executive Director, Finansa Group Mr. White, age 57, is Managing Director of Finansa Credit Ltd. and a Director of Finansa Plc. He was previously Managing Director of Pacific Siam Strategic Consulting. Earlier positions include General Manager of Chase Manhattan in Thailand. Mr. White is a U.S. citizen. Mr. Laurence Cheng Chairman of the Board, Chief Executive Officer & Founding Partner, CZI Mr. Cheng, age 54, is the Chairman of the Board, CEO and Founding Partner of Capital Z Investment Partners. Earlier positions include 23 years at Zurich Financial Services as CIO, member of Zurich’s Corporate Executive Board, and President and CEO of Zurich Investment Management Ltd. Mr. Cheng resides in New York and is a citizen of Canada and Hong Kong. Mr. Vincent Fan Partner, CZI Mr. Fan is a Partner at Capital Z Investment Partners. Earlier positions include Chairman of the Advisory Board of CVC Capital Partners Asia Pacific, CEO of CVC Asia Pacific, Chief Executive of Citicorp Capital Asia, and Executive Chairman of Citicorp China Investment Management. Mr. Fan resides in Hong Kong and is a citizen of Canada and Hong Kong.

Section H Contact Information

File: agen&cov\cppc0000.ppt PCG Books: NB NB FI-Taxable NB FI-Tax Exempt CS CS FI: Taxable or T-Ex. Template: cover.ppt Contact Information Capital Z Mr. Vincent Fan 38th Floor, Tower 1 Lippo Centre 89 Queensway Hong Kong Tel +852 2230 9800 Fax +852 2230 9898 Vincent.Fan@CapitalZAsia.com http://www.capitalz.com Finansa Plc Mr. James Marshall TISCO Tower 16/F 48 North Sathorn Road Bangkok 10500 Thailand Tel +662 697 3700 Fax +662 266 6688 jmarshall@finansa.com http://www.finansa.com

Fund raising proposal: SIAM INVESTMENT FUND III L.P.