LeapFrog Poised to Invest US$112 Million in Insurance and Microfinance Companies, After Historic Commitments by IFC, KfW, Flagstone and Soros

FRANKFURT and WASHINGTON, March 29, 2010 - LeapFrog Investments, the world's first microinsurance fund, announced
today that it has surged past its US$100 million target capitalization,
months ahead of schedule. The fund invests in high-growth, high-impact
insurance and financial services companies in countries including India, the
Philippines, South Africa, Kenya, and Ghana. LeapFrog's dual aims are to
deliver strong returns for its investors and to bring affordable insurance to
25 million low-income and vulnerable people in Africa and Asia. For the 83
percent of Asians and 95 percent of Africans at the base of the economic
pyramid, quality insurance is critical to permanently escaping the cycle of
poverty and to catalyzing entrepreneurship. "Today we have achieved the
synergy of profit and purpose," said Dr. Andrew Kuper, President and Founder
of LeapFrog. "We have opened the gates of the capital markets, ensuring that
millions of vulnerable people, for the first time, will be able to build
futures without fear."

Leading global investors have aligned behind LeapFrog's ground-breaking
profit-with-purpose investment strategy, with four new investors announcing
their commitments today. IFC, a member of the World Bank Group, committed
US$20 million. The board of the Soros Economic Development Fund has approved
a US$7 million investment. Flagstone Reinsurance, a global reinsurer, has
committed US$12 million. In the largest investment announced today, KfW
Entwicklungsbank and BMZ, the German Ministry for Economic Cooperation and
Development, committed US$26 million. Together with the US$47 million raised
by LeapFrog in 2009 amid the global financial crisis, these commitments bring
the fund to US$112 million, making LeapFrog the largest dedicated investor in
microinsurance worldwide.

"We are delighted to join a group of visionary investors backing the
LeapFrog team to build high-growth companies that support critically
underserved communities," said Stewart Paperin, President of the Soros
Economic Development Fund. "Our investment represents a step in a very
exciting direction, giving IFC the opportunity to increase our impact in an
area where the need is great," added Jyrki Koskelo, IFC's Vice President for
Global Industries.

The commercial success and social impact of microinsurance are driven by
intensive demand from low-income people, who are willing to pay for quality
products that protect their families and businesses. Without the safety net
of insurance, their lives, property and livelihoods are constantly at risk,
and shocks from major life events such as illness or a death in the family
can mean destitution. The total estimated market for microinsurance is 1.5
billion people, according to Lloyds and the Microinsurance Center, and the
microinsurance industry now has an annual growth rate in excess of 18
percent. Yet the market is seriously underserved, with well over 90 percent
of low-income people still without any access to insurance. To date, the
microinsurance industry has lacked a specialist fund to drive its growth with
intelligent capital.

Launched with President Clinton at the Clinton Global Initiative, and
hailed by the former President as the Insurer to the Poor, the LeapFrog fund
has taken just 18 months to reshape the landscape of microfinance and
alternative investment. The fund seeks to invest amounts between US$5 million
and US$15 million in high-growth potential businesses that will bring
insurance to financially excluded people - including life, property,
catastrophe, and health insurance.

LeapFrog made its first investment of over 6 million USD in AllLife, an
innovative South African life insurer profitably serving people living with
HIV, with life-changing benefits. Whereas other insurers reject people with
pre-existing conditions, assuming they will die in five to seven years,
AllLife connects HIV-positive people to an adherence program that helps them
to manage their health so that they can live for a long time, making them
insurable and giving them the support to imagine and invest in a meaningful
future.

LeapFrog's investment approach is to meet the escalating demand for
microinsurance products at the right time, with the leading global team and
experts in the industry. The fund is able to invest in both growth-stage
opportunities and to partner with distribution players that reach relatively
low-income populations, from banks and retail stores to mobile phone
networks, religious groups, and microfinance institutions. In addition to
providing investment capital, the LeapFrog team adds value to portfolio
companies in business planning, product design, regulatory and risk
management, and development of efficient and high-volume distribution
channels.

Investors stressed the transformative social impact as well as financial
opportunity in tapping the underserved microinsurance market. "Our support
alongside like-minded investors helped prove that microfinance constitutes a
viable business model. We strongly believe in microinsurance as the next
logical step beyond microcredit to provide sustainable protection to poor
people," said Dr. Norbert Kloppenburg, Managing Board Member of KfW
Bankengruppe. At least 15 million of LeapFrog's anticipated beneficiaries
will be women and children.

Mark Byrne, Founder and Chairman of Flagstone Reinsurance, added:
"Investing in ways that will couple a reasonable commercial return with
flexible entrepreneurs has been shown to outperform direct charity as a way
of improving outcomes for poor populations. Flagstone views our investment in
LeapFrog as supporting our corporate social responsibility goals, but also as
a foundation for an emerging high growth business opportunity." BMZ Director
General Harald Klein concluded by highlighting the diverse investors who now
stand behind LeapFrog, in virtue of its "collaborative and innovative
approach to minimizing risks for poor people."

Major institutional investors in the fund also include the European
Investment Bank, Omidyar Network, FMO, the Triodos-Doen and Hivos-Triodos
funds, Accion International, SCOR, and Calvert. The team anticipates a third
and final capital raise in the coming weeks.

With US$112 million at the ready, LeapFrog's team is now seeking out
innovative insurance and financial services companies, as well as Asian and
African businesses that own strong distribution platforms. Many others see
low-income people as charity cases. LeapFrog sees them as the aspiring and
inspiring majority of emerging market consumers, ready to seize the simple
but essential financial tools needed to change their own lives.

About LeapFrog Investments

LeapFrog is the world's first microinsurance fund, hailed by President
Clinton as the Insurer to the Poor. LeapFrog's dual aims are to deliver
strong returns for its investors and to reach 25 million vulnerable people in
Africa and Asia with quality insurance - protecting their lives, families,
property, and businesses. The fund's profit-with-purpose investment strategy
has attracted leading global banks, funds, insurers and microfinance
investors - making LeapFrog the largest dedicated investor in microinsurance
globally. LeapFrog has also been recognized by many global leaders and media
as opening up a new frontier for microfinance and alternative investment.
www.leapfroginvest.com.

LeapFrog Investments: Dr. Jim Roth, +44-7914-397-314, jimroth at leapfroginvest.com, or Dr. Andrew Kuper, +1-917-755-0152, andrewkuper at leapfroginvest.com; or IFC: Aliza Marcus, +1-202-473-8168, amarcus at ifc.org; or KfW Entwicklungsbank: Dr. Charis Pothig, +49-(0)-69-7431-4683, charis.poethig at kfw.de; or Flagstone Reinsurance: Brent Slade,+1-441-278-4303, bslade at flagstonere.com; or Soros Economic Development Fund: Fawzia Naqvi, +1-212-548-0338, fnaqvi at sorosny.org