Cordiant Capital to Manage New Infrastructure Crisis Facility Debt Pool - Unique Arrangement Addresses Emerging Market Infrastructure Liquidity Crisis

MONTREAL, December 1 -

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Cordiant Capital Inc. ("Cordiant"), a leading manager of emerging market
private sector investments, announced today that it has signed an agreement
to manage the newly created Infrastructure Crisis Facility Debt Pool ("ICF
Debt Pool") launched at the annual meeting of the World Bank Group in
October. Cordiant was chosen following a competitive selection process
involving financial institutions from around the world.

"New opportunities are arising in emerging markets as a result of the
global liquidity crisis, which has caused a significant vacuum in the
financing of new infrastructure projects," said David Creighton, President
and Chief Executive Officer of Montreal-based Cordiant. "As manager of the
ICF Debt Pool, Cordiant will enable vital support to promising infrastructure
projects in emerging countries by ensuring they are financed on a timely
basis, and on commercial terms. This role places us in a truly unique
position to access deal flow and bring together public and private money to
fund those projects.

"Cordiant has proven expertise in emerging markets, having funded and
managed 43 infrastructure investments in the past decade, along with more
than 150 company investments. We have been investing alongside international
financial institutions ("IFIs") on individual transactions since our
inception in 1999. Cordiant's unique relationships with IFIs enable us to
benefit from a broad range of carefully selected deals not otherwise
available to private investors. As manager of the ICF Debt Pool, we will have
access to very attractive, high quality infrastructure investment
opportunities in emerging countries that offer strong financial returns and
are developmentally sustainable," Mr. Creighton continued.

Speaking on behalf of the ICF Debt Pool Board, Chairman Andrew Bainbridge
said: "We are delighted to have selected Cordiant following a rigorous
tendering process. Their commitment to the ICF Debt Pool has been very clear
to the Board and, combined with their existing emerging markets expertise,
gives us great confidence that we will be able to act at speed to identify
and support worthy projects."

Sustainability is a key ingredient in every Cordiant project. Since
inception, Cordiant has integrated environmental, social and governance
screening into its existing investment analysis. Cordiant is a signatory of
the UN Principles for Responsible Investment.

The Infrastructure Crisis Facility directly addresses the continuing
liquidity crisis in emerging market infrastructure financing caused by the
withdrawal of major commercial financial institutions from emerging markets
during the global financial crisis as they continue to re-focus their lending
activities on their home markets.

Sovereign Development Institutions Participating in the Facility

To date, the Infrastructure Crisis Facility has mobilized over US$4
billion from international financial and development institutions. The
setting up of the ICF Debt Pool has been supported by the German Government,
which is providing a (euro)700 million interest subsidy and US$11 million
equity participation. Under a guarantee of the German Government, KfW
Entwicklungsbank has set aside (euro)500 million for the ICF Debt Pool and
Proparco, the French Investment and Promotions Company for Economic
Cooperation has pledged (euro)200 million. KfW's daughter company DEG has
earmarked US$400 million for co-financing opportunities, Proparco (euro)800
million and the European Investment Bank (EIB) has committed (euro)1 billion.

In keeping with its primary business of offering emerging market
investments to pension funds, Cordiant will also offer pension fund investors
the opportunity to co-invest alongside the ICF Debt Pool in individual
projects.

Emerging Market Infrastructure Liquidity Crisis

On a global basis, the International Finance Corporation ("IFC"), the
private sector arm of the World Bank Group, estimates that approximately
US$110 billion worth of new infrastructure projects risk delay or
postponement, while US$70 billion worth of existing projects are facing
refinancing. Emerging market infrastructure is facing long-term financing
needs of US$21 trillion over the next 10 years. Private funds and public
private partnerships will therefore continue to play a critical role in
financing infrastructure projects in emerging countries.

The Infrastructure Crisis Facility will provide direct financing to
qualified infrastructure projects in emerging economies, and will be the
catalyst in generating significant co-financing opportunities. The ICF Debt
Pool was conceived by the IFC and developed on the Private Infrastructure
Development Group platform. This ensures that the ICF Debt Pool is overseen
by a commercial and independent board, operates to the highest standards of
corporate governance and is flexible to the needs of IFIs in facilitating
progress with infrastructure in emerging markets.

Cordiant's Role as Manager

Cordiant will review all investment opportunities proposed to the ICF
Debt Pool by the originating international financial and development
institutions. Building on the work already carried out by those originating
institutions, Cordiant will undertake a thorough analysis of each project. It
will then prepare investment reviews of infrastructure projects that meet the
criteria of the ICF Debt Pool and present those reviews to an independent
board, which will make the final decision. Once the board approves a project,
Cordiant will negotiate and execute the legal documentation, disburse funds
and manage all aspects of the investment on behalf of the ICF Debt Pool.

The ICF Debt Pool has already committed to provide financing to several
projects, including SP-SSA International Container Services (SSIT), a joint
venture between Vinalines, Saigon Port and Carrix, Inc. to develop a modern,
efficient deepwater container-handling facility in Ho Chi Minh City, Vietnam.

"Infrastructure projects are key to the continued growth and economic
development of emerging market countries. Our firm has been active in
emerging markets for the last ten years, on our own and in partnership with
international financial institutions. We have witnessed first-hand the spirit
and resolve that drives these economies. We are proud to be associated with
the Infrastructure Crisis Facility and to contribute to the role it will play
in ensuring that the momentum these markets have built in recent years will
be maintained," Mr. Creighton concluded.

About Cordiant Capital

Founded in 1999, Cordiant has invested almost US$2 billion on behalf of
some of the world's largest institutional investors. The firm has made
investments in over 150 companies in more than 50 emerging and high growth
countries around the world, including a large number of infrastructure
investments. Cordiant pioneered the creation of emerging market corporate
loan funds in partnership with international financial institutions. Cordiant
co-manages one private equity fund, the Canadian Investment Fund for Africa,
and manages three private debt funds. The firm is a signatory to the UN
Principles for Responsible Investment.

For further information: and to arrange interviews with David Creighton,
President and Chief Executive Officer of Cordiant, or Bertrand Millot, Chief
Investment Officer: Anne-Marie Durand, NATIONAL Public Relations,
+1-514-843-2319

For further information: and to arrange interviews with David Creighton, President and Chief Executive Officer of Cordiant, or Bertrand Millot, Chief Investment Officer: Anne-Marie Durand, NATIONAL Public Relations, +1-514-843-2319