CHINA: contract signing ceremony for proposed $965,000,000 liquefied natural gas (LNG) terminal and related facilities, EurOrient Financial Group (EurOrient)

Los Angeles, CA -- September 22, 2006 -- Contract signing ceremony for the commissioning of liquefied natural gas (“LNG”) receiving terminal in Rizhao City and the related storage tanks, pipelines and gas distribution facilities with initial annual processing capacity of 1.5 million tons(the ”Rizhao LNG”) was held at the Rizhao City, Shandong Province, The People’s Republic of China on Wednesday the 13th day of September 2006.

The Contract between the Rizhao Municipal Government and EurOrient Financial Group (“EurOrient”) granted to EurOrient the Project Concession and established the framework to facilitate cooperation in the area of safety of to design, construct, finance, operate, market and maintain the Project in Rizhao City. The total investment to complete this undertaking is estimated to be over USD$ $965,000,000 to be financed and developed in phases. The first phase of project development is about 500,000 tons of LNG.

The Rizhao LNG Project been commissioned in order to relieve urban energy shortage and contribute to an improved environment by reducing the growth of air pollution caused by massive coal usage. The Rizhao LNG will promote sustainable economic and social development by making available affordable and clean energy supply in Rizhao City and to the greater Qingdao territory.

The President of EurOrient Financial Group Mr. Ron Nechemia stated to the Rizhao City People’s Committee, that EurOrient Financial Group is considering Rizhao Lanshan Port as possible location of the terminal for liquid natural gas. According to Mr. Nechemia, an LNG terminal could be of a great strategic value for Rizhao City. Furthermore, Mr. Nechemia also thinks that the availability of sufficient energy sources will reinforce the Rizhao City and the grater Qingdao as an excellent location for especially chemical companies. The LNG terminal in Rizhao City should include transshipment terminal and one or two storage tanks.

The Rizhao LNG terminal in north China is among the very first of the only ten (10) LNG projects to be commission in China along the costal cities for the next ten years by the decision of the State Council. The Rizhao LNG is expecting to obtain by December 2007 the construction permit from the relevant government authorities. Construction is expected to start during the first quarter of 2008. EurOrient Financial Group is considering various countries as suppliers of the liquid natural gas. Among those are Australia, Indonesia, Malaysia, Qatar, Oman, Bolivia and Russia.

EurOrient Financial Group is a socially responsible investor which is integrating traditional fundamental analysis of projects and programs with in-depth assessment of select social and environmental factors in the investment decision making. EurOrient is aiming at strengthening its position as energy investor with the emphasis on ‘clean” energy in China and in other developing economies.

EurOrient Financial Group is a private sector global development finance institution. Its mission is to mobilize financial, technical and human resources for the benefit of developing economies seeking sustainable economic development and poverty reduction. EurOrient invests in projects and programs that promote social development, build human capacities, and address host government priorities for investments in physical infrastructure that promotes and enhances social development. These projects include roads, transportation and communication systems, water, sanitation and other types of investments with social development outcomes such as improved quality of life and increased human knowledge and skills.

EurOrient at Glance

Headquarters: Los Angeles, California
Website: www.eurorient.com
CEO: Mr. Ron Nechemia

Contacts

EurOrient Financial Group
Ms. Xuan K. Le
Phone: 818-392-8144 or 818-800-0777
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