Global Fund Company MAY 2006.


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IFC is the Largest Source of Loan and Equity Financing for the Private Sector in Emerging Economies. AAA ratingOver 80% of assets obtained in universal marketsInvests about US$5.0 bn consistently for own accountsMobilize extra US$1.0bn p.a. in syndicated financeUS$19.3bn portfolio (in 120 nations).
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FINANCING OPPORTUNITIES IN THE ENERGY SECTOR IN ALGERIA INTERNATIONAL FINANCE CORPORATION MAY 2006

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IFC is the Largest Source of Loan and Equity Financing for the Private Sector in Emerging Economies 178 Member Countries AAA rating Over 80% of assets obtained in universal markets Invests about US$5.0 bn consistently for own records Mobilize extra US$1.0bn p.a. in syndicated account US$19.3bn portfolio (in 120 nations) Since 1956, around US$73 bn put resources into 3,319 private part organizations in 140 creating nations Today, IFC holds value in around 800 Companies

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Projects we Finance in the Energy and Resources Sector & Products We Offer Oil, Gas and Energy Appraisal and Development (no wildcat investigation) Oil and Gas Pipelines Oilfield Services LNG LPG FPSOs Logistics bolster base Power ventures Chemical Projects Refineries Petrochemicals – saltines; PP/PE; VCM/PVC; PTA/PET; Methanol; et. al. Base – stockpiling; terminals Inorganics – Hydrogen peroxide; chlor-soluble base; carbon dark; pop fiery debris Fertilizers – smelling salts/urea; phosphoric corrosive; DAP Products Senior Debt Project Finance Corporate Loans Income-Participating Debt Convertibles Revolving Credit Equity Corporate UJVs Partial Credit Guarantees Acquisition Financing Debt Refinancing

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IFC\'s capacity to back from own record & activate financing from extra sources Project sort IFC\'s venture for its own particular record Greenfield, absolute cost under $50 mm Up to 35% of task cost Greenfield, complete cost more than $50 mm Up to 25% of undertaking cost Expansion or recovery Up to half of venture cost IFC\'s aggregate financing must be under 25% of aggregate organization capitalization, and IFC does not oversee or have biggest stake IFC umbrella for B Loan members: IFC moneylender of record, invulnerability from tax assessment and provisioning necessities

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Loan Agreement Borrower IFC A + B Loans Participation Agreement B Loan Participants IFC Syndicates Full Debt Package Through the B Loan Program An advance is for IFC\'s own record B Loan is for record of member banks 1 Loan Agreement marked by Borrower & IFC: IFC umbrella for B advance members IFC oversees whole advance IFC disperses installments professional rata among itself and members Participants acknowledge business dangers of task Benefits of IFC "umbrella" better estimating/tenors than generally accessible favored lender access to outside trade IFC advances absolved from withholding charges and provisioning prerequisites

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The IFC Value Proposition Long-term financing – own and asset assembly in extreme markets Risk sharing as value accomplice Tax advantage Environment and social best practices Linkages Community advancement Local suppliers Micro-fund In-house abilities (specialized, legitimate, protection, environment/social) De facto political danger moderation Corporate administration

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IFC in Algeria

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IFC Portfolio in Algeria Project Sector IFC Investment Amount Year (US$ million) Soci é t é G é n é rale Alg é rie Financial Markets 1.5 equity 1997 Algeria Trade Enhancement Facility Financial Markets 20 debt 2000 Algerian Cement Co. General Manufcaturing 45 debt 2003 & 2004 Sider-Alfasid Annaba General Manufacturing 25 debt 2003 Algiers Investment Partnership Financial Markets 0.2 equity 2000 Arab Banking Corp Financial Markets 1.9 equity 1998 & 2002 Arab Leasing Corp Financial Markets 0.7 equity 2002

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IFC Current Activities in Algeria Sector IFC Investment Amount (US$ million) General Manufacturing 12 value Financial Markets 19.5 value 12.5 debt Infrastructure 10 debt Tourism 25 obligation Chemicals 24 value

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IFC Private Enterprise Partnership IFC dispatched the Private Enterprise Partnership for the Middle East and North Africa (PEP MENA) in 2004 Technical help to advance the improvement of the neighborhood budgetary markets, little & medium size endeavors, natural mindfulness and advancement of open private associations Partnerships marked with Conf édération des Entrepreneurs Industriels de la Matidja, a (CEIMI) 500 part SME Association nationale des Exportateurs Algériens (ANEXAL) Club d\'Action et de Réflexion autour de l\'Entreprise (CARE), first Algerian research organization of youthful business people Conseil Consultatif National pour la PME Others: Doing Business with Government, specialized help for CPA (bank slated for privatization) and SME toolbox with service of SMEs

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IFC Strategy in Algeria has potential for a sizeable system IFC sees its part as encouraging private division speculation IFC is sharp on: Supporting the constant upgrades in the venture atmosphere Assisting in the privatization procedure Developing the monetary segment, including SMEs Encouraging private cooperation in framework Helping to reinforce the nearby private segment

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IFC Algeria Office Local nearness since 2002 through NAED Now extended to cover Maghreb area Abderahmane Fodil will be IFC\'s Oil, Gas, Mining and Chemicals committed staff part situated in Algiers beginning September 2006 Abdelkader Allaoua Associate Director Middle East North Africa Department 19, regret Emile Marquis – Djenane El Malik – Hydra 16035 Algiers, Algeria Tel: (+213-21) 54 80 10 Fax: (+213-21) 54 95 82 E-mail: aallaoua@ifc.org Rana Karadsheh Senior Investment Officer Oil, Gas, Mining & Chemicals Department 2121 Pennsylvania Ave. N.W. Washington, DC, 20433 – U.S.A. Telephone: (+1-202) 473-5527 Fax: (+1-202) 974-4325, 974-4324 E-mail: rkaradsheh@ifc.org Abderhamane Fodil Investment Officer Oil, Gas, Mining & Chemicals Department 2121 Pennsylvania Ave. N.W. Washington, DC, 20433 – U.S.A. Telephone: (+1-202) 458-9252 Fax: (+1-202) 974-4325, 974-4324 E-mail: afodil@ifc.org

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Highlights of Current Projects

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RED MED Logistics Support Center The Red Med Group (Red Med, Star Aviation, and so forth): Local logistics organization serving the hydrocarbon part Renowned for quality, unwavering quality and trustworthiness Integrated administrations – base camp, versatile camps, air and ground transportation, truck/crane/auto lease and others Total undertaking expense of US$32 million IFC\'s Involvement: IFC\'s first interest in a nearby organization in Algeria US$10 million semi value for office redesign and extension Advise on corporate administration

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Fertial Fertilizer Production Fertial was privatized in 2005 to Grupo Villar Mir (GVM) of Spain Domestic manure organization Capacity of 990,000 tons of smelling salts, 660,000 tons of nitric corrosive, 198,000 tons of urea and 740,000 tons of compound composts GVM resolved to update the plants to meet universal operational and natural benchmarks GVM focused on building up the household Algerian cultivating division Looking to build up another alkali plant with limit of 1.1 million tons for each annum IFC\'s Involvement IFC\'s biggest interest in synthetic segment in Algeria US$24 million in value Will probably be financing the new smelling salts plant

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Other Oil, Gas, Mining and Chemicals Projects

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Petrochemicals 45% Asia 56% Chemicals 38% Latin America & Caribbean 31% Refineries 7% Africa 3% Fertilizers 10% E. Europe 3% Middle East & North Africa 7% Chemicals Portfolio US$1.1 Billion Catalyzed over $15 billion in task ventures By Product By Region • US$522 million for IFC\'s record • US$645 million held by members

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Oil and Gas Portfolio US$2.0 Billion  6 UJVs  Equity  Mezzanine Debt

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IFC works with outside speculators and neighborhood organizations on complex cross-fringe exchanges Azerbaijan/Georgia - Early Oil Project Financing of a US$2 bn venture ($0.5 bn pipeline component) for Amoco, Unocal, Exxon, Turkish Petroleum, and Lukoil Precedent for multilateral financing of extensive arrangements in this district Mitigation of political and cross-outskirt hazard IFC speculation: US$100 mm A credit, US$100 mm B advance Azeri Chirag Gunashli Project ACG field complex is being created in stages by a consortium of 11 nearby and worldwide oil organizations IFC drove the financing US$300 mm for ACG field improvement Project at present delivering 140,000 bbls/d Production will increase to 1,000,000 bbls/d BTC Pipeline 1,750 km Baku Tblisi Ceyhan cross-fringe pipeline Project expense is roughly US$3.8 billion IFC gave $250 million and lead the financing for different lenders including multilaterals, ECAs, business banks and political danger back up plans

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Landmark Transaction in Argentina - Pan American Energy US$250 million unsecured financing for PAE (Pan American Energy), second biggest oil & gas maker in Argentina PAE perceived as a decent corporate national Financing included US$135 million syndicated advance – 7 year advance longest syndicated for an argentine borrower since emergency Transaction finished in under 4 months (order to duty) LAC IFC Plus office along these lines marked MOU with customer propelling specialized help venture.

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IFC gives adaptable financing to developing Independents Bangladesh/India – Cairn Energy Development of oil and gas resources in Bangladesh and India IFC arrangements to give a US$150 mm spinning corporate office as a major aspect of a bigger syndicated obligation issue IFC investment looked for by Cairn for more prominent solace on political hazard and structure a more engaged Environment, Health & Safety Management Plan and its Corporate Social Responsibility Policy. IFC giving backing on SME improvement and group issues

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IFC gives adaptable financing to developing Independents Egypt/Bulgaria– Melrose Resources IFC gave a US$25 million rotating corporate office Funds utilized for capital consumptions and rebuilding bunch obligation Development of g

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