CHINA

China and India share a number of similarities, while having some fundamental differences. One is a democracy and therefore a free market as we understand it, while the other is a closely controlled market with dynamic and benevolent leadership that keeps up with the global economic trends. Despite their differences both these economies are standing out in the global market place today. Although Chinese economy is much more dependent on the US and European markets, mainly due to its manufacturing industry supplying to those markets, it has a large enough domestic market to sustain itself. The fact that this country has shown a growth of 10% until the end of September this year (2008) despite all the ups and downs in the world, bears a testament to the strength of China in the world today. China has blossomed into an undisputed global economic powerhouse. The inflow of foreign direct investment has soared in the recent past and it shows no signs of slowing down. Likewise, the expatriation of Chinese companies to the rest of the globe has increased and is set to expand even further with the current economic situation. There will a number of global acquisitions by Chinese companies. We also see a growing traffic of cross border trade between China and India, and this will present good opportunities for Curve Cap.

Curvecap's strategy in China is to partner with experienced local institutions and rely on their knowledge to navigate through the local environment and capitalise on the opportunities we come across, even though we have quite significant experience ourselves in dealing with this market. Our chosen partner firms are Galaxaco Group and New York Global Group (NYGG). Galaxaco is a private equity firm with more than 20 years of experience based out of Beijing and Sanfrancisco, bridging Silicon Valley capital with opportunities in China. They are headed by Ms. Carol Yang, CEO who has made very successful investments in China showing almost a 100% track record of success and return. On investment banking, NYGG was awarded the "best mid-market merchant bank in China". They are ably led by Mr. Benjamin Wey, Managin Director, and have more than 50 experienced professionals working out of Beijing and New York. NYGG are experts in taking mid market Chinese companies public in New York giving them access to capital and help them expand globally. We wish to utilise their expertise in doing the same with many mid market Indian companies.