Hambrecht &Quist Korea Growth and Restructuring Fund

completed

Summary Of Project Information (SPI)Project NameKorea-Hambrecht & Quist Korea Growth and Recovery Fund ("H&Q Korea")     RegionAsiaSectorProject No009035Projected Board DateMay 28, 1998Company NameHambrecht & Quist Korea Growth and Recovery Fund ("H&Q Korea")Technical Partner and/or Major Shareholders The principal project sponsor is H&Q Asia Pacific ("H&QAP"), a private equity fund management affiliate of the Hambrecht & Quist Group ("H&Q"), headquartered in San Francisco, CaliforniaProject Cost Including proposed IFC investment Total project cost or fund size is expected to be around US$140 million. IFC''s proposed investment is the lower of 25% of fund size or US$30 million.Location of project and Description of site Seoul, South KoreaDescription of Company and Purpose of Project H&Q Korea with be H&QAP''s first South Korea country-specific private equity fund. The closed-end fund will have an expected life of 10 years and will invest equity in private small to medium sized enterprizes ("SMEs"), with a focus on technology related firms.Given the ongoing regional economic downturn, IFC''s involvement will provide additional comfort to potential investors in H&Q Korea The project will provide much needed long term equity financing to South Korean SMEs and will help further develop the South Korean equity capital markets as the SMEs eventually become listed on the Korean Stock Exchange.Environmental Category and Issues This is a Financial Intermediary (FI) project according to IFC’s Environmental review procedure. H&Q Korea will be required to undertake an environmental review of eligible investee company’s environmental performance and each investee company’s compliance with South Korea''s environmental, health and safety laws, regulations and standards as well as applicable World Bank policies and guidelines. During implementation of the project, IFC’s Environmental Division must review and clear all environment category A investee companies. In addition, IFC will also assess H&Q Korea''s capability to carry out environmental reviews on each investee company      Date SPI sent to Infoshop      May 6, 1998“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384