CMH Role: Main Sponsor and Investment Advisor

Launched in 2007, the Libya Fund (the “Fund”) is a private equity fund established to invest in the energy, healthcare and other promising sectors in Libya. The Fund seeks to build a diversified portfolio of investments through balancing its exposure to sectors, industries and types of investments and aims to achieve growth through investing in early stage businesses, start-ups, and businesses with a future growth potential. Libya offers immense investment opportunities in view of its strong GDP growth, economic liberalization, serious restructuring efforts, encouraging political developments and the attention given by authorities towards developing a comprehensive private sector. Current Investors in the fund include well known Islamic financial institutions from the Gulf Cooperation Council (GCC).

The Fund established TAB Energy (the “Company”) to engage in providing services to Libya’s oil and gas sector. The Company subsequently acquired majority stake in Etelaf, a firm which primarily provides drilling services for multinational oil companies operating in Libya. Two other subsidiaries were established by the Company to own and lease drilling rigs. Etelaf won two significant drilling contracts in 2008 - the first with Woodside Energy, a leading oil company in Australia and the second with Shell. Both contracts offer strong revenue opportunities.

Woodside discovered oil in December 2008 the extent of which is to be ascertained. The Company has also provided drilling services to Chevron and Inpex (Japan). These contracts enable the TAB Group of Companies to secure and procure contracts with international oil companies.

Other than the energy sector, the Fund is in an advanced stage of talks with a European healthcare provider to form a joint venture that will focus on providing healthcare services in Libya.