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
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