Press on Interlink From Our Clients and Partners

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GLOBAL MARKETING CONSULTANTS/SALIHI GROUP INTERNATIONAL AGREEMENT WITH INTERLINK CAPITAL STRATEGIES TAKE INITIATIVE STEPS IN SECURING FUNDING FOR IRAQ BASED PROJECTS .

January 4, 2007 - Washington, D.C.- Global Marketing Consultants (GMC) with the inclusion its parent company, Salihi Group International (SGI) and Interlink Capital Strategies (ICS), have constructed a memorandum of understanding in order to promote projects and market entry in the various markets throughout Iraq, by securing funding from programs offered through OPIC, EXIM Bank, and other related institutions. Ali Salhi, U.S. Representative and Director of U.S. Operations, signed the MOU on behalf of Global Marketing Consultants together with Alan Beard, Managing Director of Interlink Capital Strategies/Capitol Financial Strategies, LLC. Ali Salhi continued to explain, “The MOU signed today establishes a basis for the ongoing relationship and cooperative nature between GMC/SGI and ICS, which includes the sharing of information, collaboration regarding proposed projects and related activities in the Iraqi markets, the identification of valuable projects and the legitimacy of companies attached to them, and lastly that of resource sharing between both parties in order to facilitate one another’s responsibilities that much more efficiently.” “We look forward to our newly founded relationship established by this MOU, and believe it will facilitate benefits for both global investors, but more importantly the people of Iraq,” said Ali Salhi. Global Marketing Consultants, (GMC), a sister company of Salihi Group International (SGI – www.salihi.net), is a newly constructed Northern Iraq-based consulting firm, which specializes in providing consultant based services to its Iraqi and international clients. GMC primarily coordinates and arranges for financing of various projects throughout Iraq and its many markets. Included among its consultation services, other focal points include market research and thorough applications, evaluative and risk assessment for foreign investment, and the strengthening of relations between Iraqi businessmen and foreign investors. Interlink Capital Strategies (ICS) is a well known Washington, DC-based consulting firm that specializes in using government programs to develop and finance projects in emerging markets and has a number of preferred relationships with U.S. government institutions such as EXIM Bank (ICS’ Chairman sits on its Advisory Board) and OPIC (the only outsourcing agreement for small to medium sized transactions).

For further information, contact Delshad Salhi, Salihi Group International/Global Marketing Consultants, 703-350-2415

INTERLINK CAPITAL STRATEGIES AND GOODWORKS INTERNATIONAL ENTER INTO TEAMING ARRANGEMENT.

December 5, 2006- WASHINGTON, D.C.- GoodWorks International (GWI) and Interlink Capital Strategies (ICS) and today announced that a memorandum of understanding was signed to create a teaming relationship that will mutually beneficial to both Parties. GWI was founded in 1996 by Andrew Young, Carl Masters and Hamilton Jordon to provide market access, political risk management and transactional negotiations to enterprising firms and emerging markets in Africa and the Caribbean. To carry out its vision, in addition to its presence in Washington, DC, GWI has offices throughout western Africa, as well as in New York and Atlanta. ICS is a Washington, DC-based consulting firm specializing in emerging market finance and business development. ICS provides critical financial advisory services to mobilize financing in regions outside Western Europe and North America. The type of financial support includes: business development seed money, export working capital, vendor financing, direct foreign investment support, insurance, bonding and guarantees. Ambassador Jeter, U.S. Ambassador to Nigeria during the Clinton Administration, and Tim Bridgewater, Founder and Chairman of ICS, signed the agreement today and indicated their hope that this would become the basis of a substantial relationship between the two organizations. Under the terms of the MOU, the Parties agreed to support each other on a number of initiatives, including creating seminars on investing in west Africa, supporting each other on existing client engagements, and leveraging off ICS groundbreaking Framework Agreement with OPIC, which is essentially an outsourcing of certain transactions with a loan amount of less than $10 million.

FOR IMMEDIATE RELEASE

Tuesday, September 6, 2006

BLUE BIRD SIGNS MOU TO SELL AND ASSEMBLE BUSES FOR JOINT VENTURE IN KAZAKHSTAN

Fort Valley, GA – A Kazakhstan transportation company has now entered into an MOU with Blue Bird (www.blue-bird.com) to purchase initially as many as 135 buses and create an assembly operation in its country to manufacture kits (Complete Knock Down process or CKD’s) from Blue Bird’s U.S. facility for the market of the former Soviet Union countries. With financial backing from JSC Alliance Bank (http://www.alb.kz), Blue Bird and the Kazakh company expect to finalize financing through U.S. ExIm Bank for the project later this year. Last week officials from TOO Vostokavtoprom (Kazakhstan), USA Motors International (U.S.), Interlink Capital Strategies (U.S.) and the U.S. Department of Commerce met at Blue Bird’s facility in Fort Valley, Georgia to finalize and sign the agreement (see picture below).

Photo: Alan Beard (Interlink Capital Strategies, Khasan Yusupov (U.S.A. Motors International) Rahmatuldinov Gumar (TOO Vaostokavtoprom), Wayne Duncan (Blue Bird) and Lincoln Martinez (Department of Commerce).

TOO Vostokavtoprom and USA Motors International are an established auto parts distribution and project development company, who with government support, have obtained the concession to construct a bus assembly line in Kazakhstan with an annual capacity of 2000 buses. The new facility to be called Kazakh Blue Bird, has obtained financial backing from a private equity group and from JSC Alliance Bank, which it will use with the assistance of Interlink Capital Strategies (www.i-caps.com), a Washington, DC-based financial advisory firm, to obtain ExIm Bank financing for 85 percent of the project cost of $10 million USD. Blue Bird will sell a combination of its All American model (popular in many developing countries) and its new city buses, as well as provide its technical expertise and intellectual property to provide Kazakh Blue Bird with exclusive rights to distribute and assemble all types of Blue Bird buses (including motor coach and motor homes) in Kazakhstan and the former Soviet Union countries. Once the assembly operation is fully operational in Kazakhstan, Blue Bird’s Fort Valley plant will supply the factory with CKD’s where final assembly will occur using some local parts. “The combination of Blue Bird’s proven technology and CKD process and Vostokavtoprom’s local expertise and financial backing, make this an ideal joint venture opportunity for both countries. Blue Bird will have better access to a huge market of some 300+ million people who can benefit from its years of providing well designed and built transportation equipment to the U.S. and Latin American markets” Mr. Martinez from the U.S. Department of Commerce observed. “The Department of Commerce is pleased to support Blue Bird in this international expansion and looks forward to working with ExIm Bank to complete the process as quickly as possible on such an important project.” Blue Bird Corporation is one of the world's leading bus manufacturers, delivering thousands of school buses, commercial buses and recreational vehicles to the market each year. Founded in 1927, Blue Bird has nearly 3,000 employees and three facilities in two countries. Blue Bird has an extensive network of distributors and service parts facilities throughout North America

For further information, contact: Wayne Duncan (478) 822-2764

TIM BRIDGEWATER JOINS EXPORT-IMPORT BANK ADVISORY BOARD

The Export-Import Bank of the United States is pleased to announce that Tim Bridgewater has joined its Advisory Board. Mr. Bridgewater brings to Ex-Im Bank extensive experience in both the public and private sector. He currently serves as Chairman and Managing Director of Interlink Capital Strategies (www.i-caps.com), a Salt Lake City-headquarted consulting firm, with offices in Washington DC and Hong Kong specializing in emerging market finance and business development. Interlink Capital Strategies focuses on international project financing, trade financing, raising private equity, business development and marketing. Mr. Bridgewater and one of his partners previously worked at Ex-Im Bank, and the company currently has formal ties to the Overseas Private Investment Corporation (OPIC), as well as other U.S. government export promotion and investment activities. The original company was co-founded by Tim Bridgewater in 1994 to focus on business between the U.S. and Asia. In 1998, it expanded into private equity and is now invested directly and indirectly in approximately 60 U.S. companies through a publicly-traded Small Business Investment Company, MorAmerica Capital Corporation (NASDAQ symbol: MACC). Mr. Bridgewater has co-founded five companies including environmental services, bio-technology and multimedia/software technology companies and has served on various boards, including the Advisory Committee of the U.S. Department of Commerce. In addition to working as a Loan Officer for Ex-Im Bank, he has been active in politics and ran for the U.S. Congress in 2002 and 2004. He received a B.S. in Finance from Brigham Young University and completed graduate studies in international economics from the University of Utah. Ex-Im Bank is an independent federal agency that assists in financing the export of U.S. goods and services to developing markets around the world, through export credit insurance, loan guarantees and direct loans. In fiscal year 2001, Ex-Im Bank helped to finance approximately $12.5 billion of U.S. exports worldwide.

ECONERGY PROJECT INVESTMENT AND DEVELOPMENT

Econergy Project Investment and Development is building a portfolio of clean energy assets that will generate both power and carbon credit sales in Latin America and the Caribbean, as well as in other emerging economies. Econergy defines a “clean energy project” as one that has the effect of reducing Greenhouse Gas Emissions (“GHGs”). In October 2004, as part of its evolving strategy to build, acquire, own and operate a strategic portfolio of investments in clean energy projects, Econergy closed the initial round of investment into the CleanTech Fund (CTF), a $20m private equity fund focused on investment in clean energy projects in Latin America. In December 2005, the CleanTech Fund’s Investment Committee approved its first investment into NEOgás, a Compressed Natural Gas (“CNG”) distribution company in Brazil, which currently has a 75 per cent market share in the CNG distribution business. In January 2006, as part of its project development initiatives, Econergy was awarded the contract to supply, install, operate and maintain a 10MW customer peak shaving operation for UCAR in Mexico. This activity will be managed through Econergy’s Mexico office, which has been providing on-site energy generation services to industrial and commercial customers in Mexico. These services include: design, procurement, installation and operation and maintenance of peak shaving power supply systems. Econergy may acquire either minority or majority interests in existing clean energy projects and may develop, build, own and operate greenfield projects, either alone or in strategic partnerships. Clean energy projects may include, but are not limited to: Power generation using renewable technologies (wind, hydro, geothermal, solar, biomass, alternative fuels, etc.) Manufacture and/or distribution of alternative fuels such as biodiesel, ethanol and CNG Though Econergy’s present focus is on Latin America and the Caribbean, its investment and development interests extend to all emerging markets.

SALT LAKE TRIBUNE - BUSINESS INSIGHT

Alan Beard Alan Beard Managing director, Interlink Capital Strategies, Falls Church, Va. International trade requires awareness of culture, costs How difficult is it for a small or medium-size company to export? The lines between international and domestic trade are blurred. We drive foreign cars and we don't think a thing about buying foreign goods. The first step is to be realistic about what product or service you have. For instance, you're not going to sell pizzas to Japan from Salt Lake City. The next step is to know what kind of modifications that must be made to sell in a foreign market. Go to the markets you're interested in doing business with and learn the culture. Then contact the Department of Commerce or World Trade Association (801-422-6495 or visit www.utahworldtrade.org). It's a lot cheaper than hiring a consultant like me. Can you talk specifically about Utah companies? There might be an inferiority complex when it comes to international trade in Utah. But there shouldn't be. There are unequaled language skills here, in part because of the Mormon church's missionary program. Utah also has a good reputation for technology. When I look at some neighboring states, I see that Utah companies have more to offer. Certain overseas markets are a natural fit for Utah. For instance, Mexico is much closer than the East Coast. What are some common mistakes in dealing with a foreign culture? To assume the goods and services you offer will be understood exactly the same in another country. General Motors is a classic example. They sold a small subcompact, the Nova, to Mexico, and they didn't think to change the name. In Spanish, "no va" means "it doesn't go." The next is pricing. Companies will have shipping costs, airfare, customs and other expenses. Yet in their eagerness to export, small to medium firms sometimes don't think through the price. The No. 1 reason more small to medium firms aren't in international trade is payment risk. The importer wants to be paid when the goods are shipped, while the importer wants performance assurances, and therefore they want to delay payments. What are some of these finance arrangements? Overseas sales risk is a function of the kind of terms your company offers. To the extent your company has a limited-risk appetite, you can insist on cash-in-advance terms, but then the volume of sales is likely to suffer. On the other hand, your sales staff may appreciate the possibility of selling everything on open-account terms with extended terms, but unfortunately the corporate controller will then not sleep at night. Using letters of credit, credit insurance and government risk programs allow both the buyer and seller to reach some middle ground where the risk is acceptable to both parties. This will then facilitate more trade. - Dawn House, dawn@sltrib.com

U.S. SMALL BUSINESS USES OPIC LOAN TO EXPAND CLEAN ENERGY TECHNOLOGY IN BRAZIL

A U.S. small business will use a loan from the Overseas Private Investment Corporation (OPIC) to expand its natural gas distribution project in Brazil, helping that nation meet a growing demand for clean-burning natural gas, OPIC President and CEO Robert Mosbacher, Jr. announced today. As part of OPIC's commitment to the Clean Energy Technology Exporters initiative, multi-agency initiative to encourage U.S. clean energy technologies, OPIC will provide a $5.4 million loan to Houston-based NEOgas to expand its operations. The project is expected to drastically increase the feasibility of using clean-burning compressed natural gas (CNG) in rural areas that are not currently served by natural gas pipelines, as well as its use in natural gas-powered vehicles. Although Brazil has a growing network of gas pipelines, much of the country still lacks access to branch pipelines, thereby denying direct availability of natural gas to consumers and industries. NEOgas transports gas that is available through the state gas distribution companies and delivers it to industrial and natural gas vehicle sites. Specifically, the company works with Brazilian state agencies to identify areas of demand and negotiates with natural gas distributors for the right to connect a compression station to a pipeline. Natural gas is then compressed and downloaded from the station into NEOgas transport vehicles. The gas is transported to retail gas stations and industrial parks. “This project achieves several important developmental goals for Brazil: it extends the country’s energy infrastructure to underserved rural areas, and does so by providing clean-burning natural gas to both retail and industrial customers,” Mosbacher said. “OPIC is pleased to work with a U.S. small business on a project with so many developmental benefits.” The project was processed through a small business fast-track system established by a framework agreement concluded last year between OPIC and Interlink Capital Strategies, a Washington, D.C.-based financial consultant. NEOgas was founded in 2001 as part of a venture capital-backed enterprise to create niche oil service business units. Later that year, NEOgas signed a cooperative research and development agreement with the U.S. Department of Energy through its Initiatives for Proliferation Prevention program to improve CNG economics through the development of new gas compression technologies and high-pressure gas storage vessels. By using their systems NEOgas costumers are able reduce costs by up to 50 percent, thereby increasing the feasibility of using clean burning CNG in rural areas that are not currently served by natural gas pipe lines. OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 33-year history, OPIC has supported $164 billion worth of investments that have helped developing countries to generate more than 732,000 host-country jobs and $13 billion in host-government revenues. OPIC projects have also generated $69 billion in U.S. exports and supported more than 264,000 American jobs.

U.S. SMALL BUSINESS USES OPIC LOAN TO BUILD 
PREFABRICATED HOMES IN MEXICO

WASHINGTON, D.C. – A U.S. small business will use a loan from the Overseas Private Investment Corporation (OPIC) to expand its production of prefabricated homes in Mexico, helping that nation meet a growing demand for low-income housing, OPIC President and CEO Dr. Peter Watson announced today. The project is expected to produce between 25,000 and 30,000 homes over the next ten years.

OPIC will provide a $10 million loan to Prefabricados y Modular de Monterrey (PyMM) to expand production of pre-made concrete homes from its manufacturing facility in Monterrey, Mexico. PyMM, a wholly-owned subsidiary of Texas-based Modular Prefab-USA, LLC, has sold more than 700 of the homes during its first four years of production, and has six projects under way. The homes cost approximately $US 15,000 apiece.

PyMM’s homes will be sold to low-income buyers through Mexico’s Infonavit program, which operates in similar fashion to Fannie Mae in the U.S.: Infonavit collects payroll deductions from employers on behalf of employees that can be used for down payments on homes and which enables Infonavit to provide long-term mortgage financing when those employees are ready to purchase their homes.

“The combination of a large housing deficit for low-income Mexicans, PyMM’s cost-effective manufacturing process, and Infonavit’s mortgage financing capability, make this project uniquely valuable, and potentially one that could revolutionize the production of quality, low-income housing in Mexico,” Dr. Watson said. “OPIC is pleased to work with a U.S. small business on such an important project.” 

The project is the first to be processed using a new fast-track approach created under a framework agreement signed last May by OPIC and Interlink Capital Strategies, a Washington, D.C.-based financial consultant.

DOE AND OPIC FORM PARTNERSHIP TO PROMOTE ENVIRONMENTALLY-SOUND ECONOMIC DEVELOPMENT IN EMERGING MARKETS

OPIC President and CEO Dr. Peter Watson, left, and U.S. Energy Secretary Spencer Abraham after signing agreement to promote investment in cleaner energies in emerging markets.

WASHINGTON, D.C. - U.S. Energy Secretary Spencer Abraham <http://www.doe.gov/engine/content.do?BT_CODE=AD_LSA> and Overseas Private Investment Corporation (OPIC) President and CEO Dr. Peter Watson today signed an agreement acknowledging their partnership in the effort to promote investment in cleaner, more efficient energy technologies in emerging markets throughout the world. Under this agreement, both agencies will work to create an Efficient Energy and Renewables Program focused on innovative financing and creative partnerships that will lead to environmentally-sound economic growth in developing countries throughout the world.

"This important, forward-thinking initiative will help create jobs, improve infrastructure, and support economic growth in developing countries, while also creating new investment opportunities for American businesses," Secretary Abraham said.

"In addition to their environmental benefits, renewable energy technologies are often the most cost-effective means to generate electricity in developing countries, particularly those with few fossil fuel resources," said Dr. Watson. "By cooperating with the Department of Energy and, OPIC can help American companies access these new markets, and in the process deliver environmentally-friendly energy service, and with it a strong foundation for further economic growth."

More specifically, the Memorandum of Understanding signed today advances two U.S. energy initiatives, the U.S. Clean Energy Initiative (CEI) and the Clean Energy Technology Export Initiative (CETE). The CEI, created by President George W. Bush in 2002, and the CETE seek to reduce poverty in developing nations through development and access to modern, clean, efficient and affordable energy using exported American technologies. For example, DOE and OPIC are currently engaged in an effort to gather information regarding wind and efficiency opportunities in developing countries to determine the most promising targets for investment.

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC's political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 32-year history, OPIC has supported $150 billion worth of investments that have helped developing countries to generate over 690,000 host-country jobs. OPIC projects have also generated $66 billion in U.S. exports and created more than 257,000 American jobs.

USAID AWARDS IRAQ PRIVATE SECTOR DEVELOPMENT INITIATIVE GRANT

USAID AWARDS IRAQ PRIVATE SECTOR DEVELOPMENT INITIATIVE GRANT

WASHINGTON, DC 20523
PRESS OFFICE
http://www.usaid.gov/
Press: (202) 712-4320
Public Information: (202) 712-4810

2004-068

FOR IMMEDIATE RELEASE
July 26, 2004

Contact: USAID Press Office

WASHINGTON, DC - In support of the reconstruction efforts in Iraq, the U.S. Agency for International Development (USAID) announces the award of a multi-million dollar grant to the Volunteers for Economic Growth Alliance (VEGA) to implement the Iraq Private Sector Development Initiative. The grant award provides funding up to $12.3 million over the next 15 months.

The VEGA Iraq Private Sector Development Initiative will establish new business centers and work through existing centers throughout the country to provide training and technical assistance to businesses of all sizes. VEGA will leverage access to over 20,000 volunteer advisors and experts covering all industrial and business sectors to provide Iraqi businesses with exposure to successful business methods. Services will include training courses, business kits, and technical assistance to businesses. Additionally, assistance will be provided to firms to compete for procurements under supplemental funds. Businesses who successfully complete the requisite training courses will be eligible to receive small grants to follow-through on implementing changes and pursuing opportunities suggested in training activities.

The VEGA Iraq Private Sector Development Initiative is part of U.S. government reconstruction assistance to the Iraqi people aimed at improving stability, ensuring the delivery of essential services, and facilitating economic recovery.

For more information on USAID's humanitarian relief and reconstruction efforts in Iraq please visit www.usaid.gov/iraq VEGA is an alliance of sixteen economic growth volunteer organizations. More information on VEGA can be found at www.vegaalliance.us.

ORBITAL SCIENCES CORPORATION OBTAINS TDA SUPPORT IN AN ATTEMPT TO WIN BRAZILIAN SATELLITE (DECEMBER 2004)

WASHINGTON, D.C. –  Orbital Sciences Corporation (OSC) obtained U.S. Trade Development Administration (TDA) support through the efforts of Interlink Capital Strategies in its attempt to win a satellite opportunity in Brazil with Embratel.  TDA made a $500,000 offer to provide training and technical assistance, based on the Brazilians purchasing the U.S. made OSC satellite.  Unfortunately, OSC lost to Alcatel, the French satellite provider.

TDA advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  TDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates anenabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

OPIC PARTNERS WITH ZIONS BANK AND INTERLINK CAPITAL STRATEGIES TO SUPPORT U.S. SMALL BUSINESSES

WASHINGTON, D.C. – The Overseas Private Investment Corporation (OPIC) today entered into a cooperative agreement with Zions First National Bank and a financial consultant, Interlink Capital Strategies, to facilitate efforts by Zions’ U.S. small business customers to invest in emerging markets through the support of OPIC financing.

Through the agreement, Interlink will prepare applications for OPIC financing by Zions’ small business customers, in return for a small packaging fee. Interlink’s involvement will ease the application process and thereby encourage investment overseas by small businesses from the western part of the United States, represented by Zions’ customers.

“OPIC’s partnership with Zions Bank and Interlink will open new opportunities for U.S. small businesses from the western part of the country to invest in dynamic markets overseas,” OPIC President and CEO Dr. Peter Watson said. “Interlink’s involvement will result in a valuable ‘force multiplier’ effect, extending OPIC’s outreach to small businesses in the American west. Given the strong records of both Zions Bank and Interlink, we at OPIC expect this partnership to yield significant benefits to both U.S. small businesses and the developing nations where they invest.”

Dr. Watson noted that the partnership represented the latest initiative in OPIC’s efforts to encourage investment overseas by U.S. small businesses. OPIC established a Small Business Center and entered into a special initiative with the U.S. Small Business Administration in 2002, and created a Small and Medium Enterprise Finance Department last year. OPIC supported 42 small business projects with $479 million in 2003, compared to $269 million for 31 projects in 2002.

"As our market’s top SBA lender, Zions Bank is pleased to partner with OPIC to bring small businesses easy strategies for investing in the worldwide marketplace,” said Scott Anderson, Zions Bank president and CEO. “We are committed to helping our business clients find ways to expand their companies beyond traditional domestic borders.”

Zions Bank, a subsidiary of Zions Bancorporation, operates 133 full-service branches and more than 200 ATMs throughout Utah and Idaho. In addition to a wide range of traditional banking services, Zions offers a comprehensive array of investment, mortgage, and insurance services, and has a network of loan origination offices for small businesses nationwide. The company is also a leader in providing electronic banking services, including electronic municipal bond trading. Founded in 1873, Zions has been serving the communities of the Intermountain West for more than 130 years. Additional information on Zions Bank is available at www.zionsbank.com.

Interlink Capital Strategies specializes in financing transactions and projects in emerging markets using government programs. Because financial markets are typically unable to support sales and direct foreign investment in emerging markets without government involvement, Interlink Capital Strategies provides critical financial advisory services to mobilize financing in regions outside Western Europe and North America. The type of financial support includes: business development seed money, export working capital, vendor financing, direct foreign investment support, insurance, bonding and guarantees.

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 32-year history, OPIC has supported $150 billion worth of investments that have helped developing countries to generate over 690,000 host-country jobs. OPIC projects have also generated $66 billion in U.S. exports and created more than 257,000 American jobs.

ZIONS BANK COMPLETES SALE OF MACC STOCK TO ATLAS MANAGEMENT PARTNERS

CEDAR RAPIDS, Iowa, Oct. 14 /PRNewswire-FirstCall/ -- MACC Private Equities Inc. (Nasdaq: MACC - News) today announced that on September 30, 2003, Zions First National Bank ("Zions Bank") completed the sale to Atlas Management Partners, LLC ("Atlas") of 804,689 shares of MACC common stock, representing approximately 34.5% of the currently issued and outstanding shares of MACC common stock. The purchase price for the MACC shares purchased by Atlas was $3.2 million. The pending transaction had been previously reported in a Schedule 13D filed with the Securities and Exchange Commission by Atlas on August 8, 2003. MACC issued no shares of common stock and received no proceeds in connection with the transaction.

PARKER INTERNATIONAL, INC.

(October 2003) - Parker International, Inc is a well established international meat broker and distributor, specialized in beef, pork, poultry, and other food items. The Company services customers mainly in Korea, Japan, Hong Kong, and Mexico. ICS assisted Zions Bank arrange a $3.4 million export working capital line of credit guaranteed by ExIm Bank.

ADEPT SYSTEMS, INC.

(May 2003) - Adept Systems provides products for network controlled systems, including gateways, routers, and network interface chips. ICS assisted Zions Bank in approving a $250,000 line of credit for Adept with an ExIm Bank guarantee. The credit facility was used to support the Company’s working capital needs to fulfill international purchase orders for customers in the United Kingdom, the Netherlands, and Israel.

WENCOR, INC.

(October 2003) - To assist Wencor in providing more attractive terms to its overseas customers and allow its line bank to provide additional credit capacity, Interlink Capital Strategies obtained a $5 million ExIm Bank export accounts receivable credit insurance policy.

TITAN ACQUISITION OF GLOBALNET CLOSES

SAN DIEGO, CA - March 21, 2002 - The Titan Corporation (NYSE:TTN) today announced that the acquisition of GlobalNet, Inc. has closed, following a vote by GlobalNet shareholders approving the transaction. As a result of the transaction, the former shareholders of GlobalNet will receive 0.03853 shares of Titan common stock for each share of GlobalNet common stock plus cash in lieu of fractional shares.

Since its founding in 1996, GlobalNet has focused on providing international voice, data, and Internet services to US and foreign based communications service providers operating in capacity constrained telecommunications corridors in Latin America. More than 15 countries are currently being served by GlobalNet's state-of-the-art Internet Protocol (IP) network that uses packet-switched technology to utilize bandwidth capacity more efficiently than circuit-switched carriers.

About Titan

Headquartered in San Diego, The Titan Corporation creates, builds and launches technology-based businesses, offering innovative technical solutions. For more than 20 years, Titan has provided comprehensive information systems solutions and services to the Department of Defense and intelligence agencies. Today, three of Titan's four core businesses develop and deploy communications and information technology solutions and services for both government and commercial customers. In addition, Titan's subsidiary SureBeam (Nasdaq: SURE) markets the leading technology for the electronic irradiation of food products and Titan is continually identifying promising technologies suitable for commercialization. The company has 10,000 employees and annualized sales of approximately $1.3 billion.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Examples of such forward looking statements include the Company's belief, that its technology-based businesses will continue to grow or result in profitability and that its government information technology business is stable and predictable and that it will be able to capitalize on government funded research and development. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the risks inherent in the acquisition of GlobalNet, risks associated with the Titan's entry into new commercial businesses and new markets such as telecommunications services market, risks associated with acquiring other companies, including integration risks, the risks of doing business in developing countries and international markets including foreign currency risks, and other risks described in the Titan's Securities and Exchange Commission filings. The information in this press release is current as of its release date.

Media Contact:
Wil Williams, Vice President Corporate Communications
(858) 552-9724 or wwilliams@titan.com

OPIC BOARD APPROVES $35 MILLION LENDING FACILITY FOR MIDDLE-MARKET BUSINESSES

WASHINGTON, D.C. – The board of directors of the Overseas Private Investment Corporation (OPIC) approved a $35 million guaranty to enable a leading American bank to expand its lending to middle-market businesses worldwide.

The OPIC guaranty, for National City Bank of Cleveland, will allow National City to expand its medium and long-term lending to middle-market businesses – those with annual revenues between $35 million and $350 million – in OPIC-eligible countries globally. OPIC will review each National City transaction for U.S. effects, environmental, human and workers' rights, and establish concentration limits to ensure that the facility's transaction portfolio is diversified. National City is one of only three U.S. banks to undertake this type of lending facility with OPIC this year.

National City operates 1200 branch offices throughout six states and Canada, and provides cross-border loans to U.S. small and medium-sized businesses and overseas banks. Its overseas portfolio includes exposure in Europe, Latin America, Asia and the Caribbean. In the past two years, National City has substantially expanded its international banking activities, focusing on the delivery of international trade, investment, and treasury services to its corporate customer base.

"OPIC is pleased to work with a leading American financial institution such as National City to expand its lending to medium-sized businesses in emerging markets. The growth of medium-sized businesses depends on the availability of banking capital, which is typically difficult to obtain in emerging markets. Through OPIC's partnership with National City, we have taken an important step to help those markets start down the road to accelerated economic growth," said OPIC President and CEO Dr. Peter Watson

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC's political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 30-year history, OPIC has supported $142 billion worth of investments that have helped developing countries to generate over $11 billion in host-government revenues and create over 673,000 host-country jobs. OPIC projects have also generated $64 billion in U.S. exports and create more than 253,000 American jobs.

American Management Association Elects Two New Members to Board of Trustees During 80th Annual Meeting

NEW YORK, June 19, 2003—William K. Slate II, chairman of American Management Association, today announced the election of two new members to AMA’s Board of Trustees during the 80th Annual Meeting. Javier Urioste, senior vice president and chief procurement officer of Global Procurement Services at JPMorgan Chase Corporation, and Lew Cramer, managing director of Summit Ventures, LLC, were elected to serve two-year terms.

Javier Urioste joined JPMorgan Chase and assumed his current role as chief procurement officer at the firm’s Corporate Business Services organization in February 2002. From 1994 to 2002, he worked for IBM, where he was Director of Global Procurement Strategy and Policy and later Director of Global Business Operations for IBM’s Global Procurement organization.

Mr. Urioste began his professional career at General Electric Company in 1970. He held several positions at various GE businesses, including manufacturing and supply, business development and international trade. In 1991, he was promoted to general manager of Corporate Procurement at GE’s headquarters. Mr. Urioste is also chairman of AMA’s Supply Chain Management Council.

Lew Cramer is managing director of Summit Ventures, LLC, a Washington, D.C. and Salt Lake City-based strategic business consulting firm focusing on international business development, major project financing and advocacy issues. He has worked extensively in the global telecommunications and broadband sectors, including as vice president for MediaOne International and US WEST, responsible for their international government and multilateral financial institution relations, and public policy for numerous wireless and broadband investments in over 30 countries.

Previously, Mr. Cramer served as director general of the U.S. & Foreign Commercial Service, leading the U.S. Government’s commercial staff of 1,400 employees at over 120 embassies overseas and in 65 offices throughout the United States. His government service in the Reagan and George H. W. Bush Administrations also included positions as assistant secretary of commerce for International Trade, deputy assistant secretary of commerce for Science and Electronics and White House Fellow with the U.S. Trade Representative.

Mr. Cramer is also chairman of AMA’s International Council, a member of the U.S. Department of State’s International Communications and Information Policy Advisory Board, and special advisor to the president of the International Chamber of Commerce in Paris.

Also during AMA’s 80th Annual Meeting, five members were re-elected to the Board of Trustees. Re-elected for three-year terms were Sir Paul Judge, chairman, Isoworth Group; Tony LeDinh, vice president-international, Siemens Building Technologies, Inc.; Teresa E. McCaslin, executive vice president, human resources and information systems, Contigroup Companies, Inc.; and Susan B. Sentell, former CEO, Percipient. Re-elected for a two-year term was David C. Anderson, former president, Executive Search, Heidrick & Struggles International, Inc.

About AMA
American Management Association is the world’s leading membership-based management development organization. For 80 years, it has provided valuable and practical action-oriented learning programs to people at all levels, in all industries, from companies and agencies of all sizes. More than 500,000 AMA customers and members a year learn new skills and behaviors, gain more confidence, advance their careers and contribute to the success of their organizations through a wide range of AMA seminars, conferences and executive forums, as well as through AMA books and publications, research and print and online self-study courses.

U.S. SMALL BUSINESS USES OPIC LOAN TO HELP CAUCASUS AIRLINES EXPAND

WASHINGTON, D.C. – Financing from the Overseas Private Investment Corporation (OPIC) will enable a U.S. small business to purchase two airplanes for a new airline in the Caucasus, helping three countries in the region – Georgia, Azerbaijan and Armenia – meet important commercial and infrastructural goals, OPIC President and CEO Dr. Peter Watson announced today.

OPIC will provide a $4.6 million loan to U.S. sponsor Pacific International Holdings, Inc. for the purchase of two turbo-propeller airplanes from Air Excel for use by Caucasus Airlines, which began service last year. The airline provides chartered and scheduled flight service between its hub in the Georgian capital of Tbilisi and other commercial centers in the region: Batumi in Georgia, Baku in Azerbaijan and Yerevan in Armenia. Market demand for those routes is driven primarily by commercial business travel.

“Economic development in the Caucasus, like anywhere else, depends on reliable transportation. This project will help to establish an important foundation for future growth, by promoting safe travel within the Caucasus region, generating local jobs and providing an exchange of technology from a U.S. small business to a regional company,” said Dr. Watson.

Dr. Watson noted that the project was approved by OPIC’s new Small Business Center. The center was established in October 2002 to provide qualified small businesses the opportunity to utilize OPIC’s resources with improved customer service, flexible coverage and easier access through a streamlined approval process.

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 32-year history, OPIC has supported $145 billion worth of investments that have helped developing countries to generate over $11 billion in host-government revenues and create over 680,000 host-country jobs. OPIC projects have also generated $65 billion in U.S. exports and created more than 254,000 American jobs.

ELLIS SIGNS NEW CONTRACT IN CHINA

MARCH 20, 2003, Salt Lake City, Utah.- English Language Learning & Instruction System, Inc. (Ellis, ELLG:OTC BB) announced the signing of a contract with Beijing Carnelian Education Management Co., Ltd. (Carnelian) for the marketing and distribution of the Ellis "Kids" suite of products targeting the elementary public school market in Mainland China. The agreement is a result of a contact made through the retired head of the Chinese Department of Education when David Rees, Chief Executive Officer of Ellis, visited Beijing for the grand opening of the New Oriental Schools/Ellis Center last December.

Terms of the agreement call for Carnelian to market the product line under the "Carnelian Education Ellis Kids English" nomenclature. Carnelian will prepare, at its expense, all related materials for the project that are not specifically Ellis product, such as workbooks, school texts and related items. Ellis will receive an ongoing royalty from the sale of these components. Carnelian will purchase Ellis Kids at varying prices depending upon quantities, but is obligated to minimum purchase requirements totaling $1.5 million annually.

"Our China representative, Ling Plancon, has done an outstanding job of extending the Ellis product line into the substantial elementary school market in China with this agreement, as Carnelian has a solid reputation in the educational market in China. I am looking forward to the ribbon cutting ceremony with Carnelian in Beijing in April and intend to spend additional time with Ling and New Oriental Schools while I am there," Rees stated. "Combined with our association with New Oriental Schools for the private language school market for teens and adults, Ellis is now in an enviable position to capitalize on the extremely large and lucrative Mainland Chinese market. While sizeable in its own right, complete penetration in this marketplace serves as a springboard to related geographical areas in Asia," Rees continued.

"Ellis continues to make verifiable progress in our international sales efforts throughout the world, while continuing to expand our domestic distributorships. I am confident that these efforts will begin to produce meaningful results beginning this year and particularly in 2004 and beyond," Rees concluded.

Additional information on Ellis and its business may be found in the 2002 10K, which has been filed with the Securities and Exchange Commission.

The discussion above contains, in addition to historical information, forward-looking statements that include risk and uncertainties. Such forward-looking statements include statements regarding the Company's expectations. The Company's actual results may differ materially from those anticipated in such statements. Factors that might cause such differences are included in the Company's latest 10K for the period ending December 31, 2002, and in prior press releases and documents previously issued in 2002.