Khmer Electrical Power Co., Ltd. (KEP) is a Company incorporated in Cambodia under
Cambodian law since 28th February 2004. The company has entered into a Power Purchase Agreement (PPA) with Electric Du Combodge (EDC) for 18 years. The construction of 30 MW power plant which consist of 4 Wartsila 18V32 generating sets, has been completed and put
into operation on 24th March 2005.

Since the power demand is dramatically increasing and there’s current shortage of power
in Phnom Penh, KEP has been requested and approved by Government to expand its power
plant from 30 MW to 45 MW by adding 2 x Wartsila 18V32 generating sets with 8.03 MW
each to meet the increasing power demand and the shortage of power in Phnom Penh.
The construction of the expansion of 15 MW power plant is planned to take place in July 2005
and to be completed before end of July 2006.

FINANCING OF THE PROJECT

The total investment including fixed assets, development and pre-operation costs as well
as working capital requirement is USD 25 millions. This investment cost is fully financed
by a sole shareholder, Oknha. KOK AN.

FINANCIAL PROJECTION

     Paid-up capital: USD 25 millions.
     Total annual energy sales                       218 millions kwh
     Total sales of electricity per year             18 millions USD
Return on Capital
     The internal Rate of Return (IRR) is around 18 %

     On a cumulated basis, cash flow remains positive over the whole project period,
     from the first year of operation.