PME African Infrastructure Opps PLC 04 October 2007 4 October 2007 PME African Infrastructure Opportunities plc ("PMEA" or "the Company") Update on Progress Since Launch PME African Infrastructure Opportunities plc (Ticker: PMEA (ordinary shares), PMEW (warrants)), the AIM listed fund investing in infrastructure projects across sub-Saharan Africa, announces an update on progress since admission on 12 July 2007. Five of the potential projects listed in the pipeline in the Admission Document have been, or are in the process of being subjected to due diligence. Of these, two in the Energy and Telecommunications sectors received board approval to invest funds, subject to certain conditions. In one of these two situations, PMEA was outbid by an Indian Fortune 500 company which had already conducted several months of due diligence on the opportunity. However, in the second, various approvals comprising the aforementioned conditions precedent are in process. The three remaining projects are looking positive and it is likely that at least one of them will progress to an investment proposal being submitted to the Board of PMEA for consideration. In addition to the pipeline contained in the Admission Document, a further nine opportunities, across the Real Estate, Transportation, Energy and Telecommunications sectors have been reviewed. Of these, six have warranted further examination as they appear to meet PMEA's investment criteria. PME Investment Managers Limited, the Company's Investment Manager, continues to strengthen its team with the addition of two investment professionals at PME Infrastructure Advisors Limited, its London based subsidiary and advisor, at the beginning of August. The two professionals have a combined forty years of experience in investment banking and infrastructure related transactions, both in developed and emerging markets. Their experience spans sectors including Energy, Transportation, Water and Telecommunications. For further information, please contact: Azhic Basirov Smith & Williamson Corporate Finance Limited 020 7131 4000 James King Fairfax I.S. PLC 020 7598 4078 Anne Dalen Principle Capital on behalf of PME Infrastructure Managers Limited 020 7240 3222 Notes to editors: - PME African Infrastructure Opportunities plc is an Isle of Man company with an investment objective to achieve significant total return to investors through investing in various infrastructure projects and related opportunities across a range of countries in sub-Saharan Africa. - The Company listed on AIM on 12 July 2007, raising US$180.45 million (before expenses) through a placing of shares. - PME Infrastrucuture Managers Limited ("PMEIML") is the Investment Manager and is responsible for sourcing investment opportunities for the Company. PMEIML is a joint venture between the Principle Capital Group (a group of companies specialising in alternative investment management, the holding company of which is Principle Capital Holdings S.A. (AIM: PCX)), Dunkeld Trust, Sonrise Investment Limited and Unicos Partners LLP. This information is provided by RNS The company news service from the London Stock Exchange