PME African Infrastructure Opps PLC 17 March 2008 17 March 2008 PME AFRICAN INFRASTRUCTURE OPPORTUNITIES PLC ("PME" or the "Company") (AIM: PMEA.L; PMEW.L) PME announces Dovetel transaction PME African Infrastructure Opportunities plc, the AIM listed fund investing in infrastructure projects across sub-Saharan Africa, today announced the completion of an investment in Dovetel (T) Limited ("Dovetel"). Dovetel is a telecommunications start-up based in Tanzania which has received Ministerial approval on its national licence application to provide telecommunications services throughout the country. Dovetel will deploy a fully-converged next generation (3G) network and aims to deliver high quality broadband, data and voice services throughout the country using a CDMA technology platform. Investment highlights: * PME has agreed to provide Dovetel with up to US$26 million in financing in order to roll-out its 3G network platform throughout Tanzania over a two to three year period. * PME has acquired a 65% shareholding in Dovetel. Dovetel has signed a management service contract with TMP Management AS ("TMP"), which is a Norwegian based spin-off from the multinational telecommunications giant, Telenor ASA. TMP has a wealth of experience in building and managing large telecommunication networks in developing countries, particularly in Africa , and will be responsible for providing all requisite management and technical expertise. Richard Bouma, CEO of PME Infrastructure Managers Limited, commented: "Dovetel and the relationship with TMP are at the heart of PME's telecommunication strategy. We believe that Tanzania's continued economic development and the spectacular growth in mobile penetration rates are inextricably linked. We are excited to be investing in the next phase of this growth, which we believe will bring converged IP-based voice, broadband and data connectivity to a rapidly increasing percentage of the Tanzanian population." Further enquiries: Principle Capital on behalf of Anne Dalen +44 20 7240 3222 PME Infrastructure Managers Limited Smith & Williamson Azhic Basirov +44 20 7131 4000 Corporate Finance Limited Fairfax I.S. PLC James King +44 20 7598 5368 Bell Pottinger Dan de Belder +44 20 7861 3232 On behalf of Helvetica (Isle of Man) Company Limited Clara Parisot +41 798 249 788 Note to Editors: - PME African Infrastructure Opportunities plc ("PME") is a company investing in sub-Saharan African infrastructure and infrastructure related industries. Its shares were admitted to AIM in July 2007 raising US$180 million. - PME was established to invest in sub-Saharan African infrastructure and infrastructure related industries with a view to generating attractive returns, principally through capital growth. It is targeting opportunities arising from years of under investment in sub-Saharan African infrastructure where that infrastructure will be instrumental in allowing the continent's economic development to continue to grow. - The Investment Manager is PME Infrastructure Manager Limited ("PMEIM"). PMEIM is responsible for identifying new investment opportunities. - PMEIM is a joint venture between Principle Capital Holdings S.A. (AIM: PCX.L), Unicos Partners LLP (holding company of the Helvetica Group of companies), Masazane Capital (Pty) Limited and the interests of Richard Bouma, CEO of PMEIM. This information is provided by RNS The company news service from the London Stock Exchange