Breakthrough for Impact Investing in Africa, as LeapFrog Invests $14M in Insurer Apollo

NAIROBI, Kenya, April 14, 2011 - LeapFrog Investments has announced a landmark investment of $14 million
into East African insurance group Apollo Investment Ltd, the largest deal in
the history of microinsurance in Africa. Launched with President Bill Clinton
at the Clinton Global Initiative in 2008, LeapFrog's $135 million fund
invests in companies providing insurance to under-served people in emerging
markets. In Africa, LeapFrog now gains exposure to Kenya, Tanzania, and
Uganda in addition to its investment in South Africa.

"Some of the greatest opportunities for business growth, profitability,
and impact are found in Africa - whose people so often prove the critics
wrong," said Dr. Andrew Kuper, Founder and President of LeapFrog. "By
investing in Apollo, a fast-growing insurance group and multi-line insurer,
we expect to achieve robust returns and to reshape the market - helping bring
safety nets to millions of low-income and vulnerable people. It epitomises
our profit-with-purpose approach to investing."

Ashok Shah, who is continuing as Apollo CEO, said, "LeapFrog's capital
and global insurance expertise will help Apollo to become the preeminent
regional player in insurance in East Africa - including in microinsurance. We
are taking the next leap." Beyond its current life, health, and property
insurance activities, Apollo is now targeting a market of 7.9 million
self-employed people in the informal sector. Mr. Shah is the recent winner of
the Lifetime Achievement Award for his contribution to the Kenyan insurance
industry.

LeapFrog, a pioneer of impact investment in Africa and Asia, previously
invested in AllLife, the innovative South African insurer that covers people
living with HIV. By linking clients with a health management program, AllLife
helps people lead long and productive lives, which also makes it commercially
worthwhile to insure them. Since LeapFrog's investment a year ago, AllLife
has doubled in size.

In addition to capital, LeapFrog's team brings decades of operational
experience in distribution and product design to portfolio companies. This
enables groups like Apollo and AllLife to swiftly change their growth curve
and amplify their impact.

"Our aim as a fund is to reach 25 million vulnerable people with
affordable insurance - generating robust financial returns as well as social
impact from serving this untapped market," concluded Doug Lacey, the LeapFrog
partner who led the investment. "Apollo's track record and commercial courage
are exactly what we look for in a partner."

In the coming year, LeapFrog expects to make further investments in
Africa as well as Asia, where its focus countries are India, the Philippines
and Indonesia.

LeapFrog Investments invests in insurance companies serving 'The Next
Billion' consumers in Asia and Africa. Launched with President Bill Clinton
in 2008, LeapFrog's $135 million fund targets robust returns for investors
while bringing financial security to 25 million vulnerable people. The fund's
profit-with-purpose investment approach, combining capital with specialist
expertise, has been hailed by The Financial Times, Bloomberg, Fast Company,
and many global leaders as opening up new frontiers for alternative
investing. Investors in LeapFrog's high impact investment fund include global
banks such as JP Morgan, Triodos, IFC, KfW, and EIB; leading funds such as
Soros EDF, TIAA-CREF, Omidyar Network, FMO, and Calvert; global reinsurers
SCOR, Haverford, and Flagstone Re; and development financiers including
Proparco and Accion.

www.leapfroginvest.com

Dr. Andrew Kuper, President and Founder, andykuper at leapfroginvest.com, +61-410-638-770, or Dr. Jim Roth, Partner and Co-Founder, jimroth at leapfroginvest.com, +44-(0)7914-397-314