CEA Latin American Communications Equity Associates L.P.

in implementation

The project consists of a US$7.5 million participation in The CEA Latin American Communications Partners, L.P., a diversified regional fund with a target capitalization of US$100 million. The fund is a Delaware limited partnership whose aim is to invest in equity related securities of privately held small and middle market media and telecommunication companies located in the Latin America and the Caribbean. The Fund will focus on five primary industry areas: a) fixed-line telephony (including data communications and Internet access services; b) mobile telephony; c) cable and pay television; d) advertising-related businesses such as broadcasting, publishing and outdoor advertising, and; e) Internet commerce and content related sectors.