SEI-Asset Korea

completed

REVISED Summary Of Project Information (SPI)Project NameKorea: SEI-Asset KoreaMutual Fund Management Compay and Equity Mutual FundRegionAsiaSectorProject No009392Projected Board DateJanuary 8, 1999Company NameSEI-Asset KoreaTechnical Partner and/or Major Shareholders The proposed project seeks to develop a mutual fund management company in Korea (SEI-Asset Korea or SEI-AK) structured as a joint venture amongst SEI Investments, (possibly) Tong Yang Securities, IFC, and the management of Asset Korea Capital Management Co. (Asset Korea)Project Cost Including proposed IFC investment US$6.0 MMLocation of project and Description of site Seoul, Korea Urban locationDescription of Company and Purpose of Project SEI-Asset Korea, is expected to be one of the first joint-venture mutual fund management companies set up under the Korean Securities Investment Company Act, which became effective on Sept. 16, 1998 and is modeled on the U.S. Investment Company Act of 1940. The new law intends to create an alternative to the existing Investment Trust Funds (ITMCs), which are perceived by industry experts and government officials to be in need of reform. The proposed project intends to build on the continued liberalization of the Korean financial sector to develop a mutual fund management company along the lines of best international practices.           Environmental Category and Issues Based on the available information, this is a Category C project according to IFC’s environmental review procedure. No further environmental review is therefore required.     Date SPI sent to InfoShopRevised December 7, 1998December 8, 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