Mercuria Energy Group Makes Strategic Carbon Business Acquisition

Purchase of Carbon Offset Pioneer, MGM, Boosts Global Energy Trading Firm's Presence in Carbon Trading Markets

MIAMI, November 3, 2010 -

    Highlights

    - Major strategic step for Mercuria in the global carbon markets.
    - Mercuria purchases all equity of MGM.
    - Valuable growth platform for Mercuria in project origination
      and marketing.
    - Mercuria grows and diversifies its global energy business.

Mercuria Energy Group Ltd. announces today the acquisition of
carbon offset project developer MGM International Group LLC. The purchase of
MGM represents a strategic investment by the Geneva-based Mercuria to create
an additional growth platform for its global carbon trading activities.

Under the terms of the transaction, Mercuria has purchased all
of the equity in MGM International Group from Morgan Stanley Capital Group
Inc. and MGM International LLC, which is owned by MGM International Group's
founders.

"MGM has proven to be a leading innovator in the field of
carbon project development, and we are very pleased to bring this company and
its management on board at Mercuria," said Jean-Francois Steels, Mercuria
Head of Carbon Trading. "We anticipate MGM will provide a valuable platform
for the growth of our carbon project origination and marketing activities."

The Miami, Florida-based MGM International Group is a leader
in the development of international projects to reduce greenhouse gas
emissions and a pioneer in global carbon trading markets. The firm was one of
the first to focus on global carbon project development, and it currently
manages projects in 22 countries.

"There are few companies in the carbon market with such a
mature and sizable portfolio of projects as MGM," said Paul Chivers, Mercuria
Group Chief Investment Officer. "MGM's portfolio stands out for the diversity
of its projects by geography, technology, and credit delivery dates. The
company is poised to produce a significant amount of credits between now and
the end of the Kyoto Protocol compliance period in December 2012, which
provides a solid platform to support our focus on global carbon trading
markets."

About Mercuria Energy Group Ltd.

Mercuria is a privately-owned international group of companies
active over a wide spectrum of global energy markets including crude oil and
refined petroleum products, natural gas (including LNG), power, coal,
biodiesel, vegetable oils and carbon emissions. It is one of the world's five
largest independent energy traders and has a longstanding sector expertise.
Mercuria's worldwide operations are carried out from 28 offices across five
continents.

About MGM International Group LLC

MGM International Group LLC (MGM or The Company) is a leading carbon
project development company, helping clients worldwide identify, design,
develop and monitor greenhouse gas (GHG) emission reduction projects in the
Kyoto, voluntary and pre-compliance markets.

Media Contacts: Patrick Prendergast (Mercuria) +41-22-595-88-52 pprendergast at mercuria.com; Hugh Fraser (Morgan Stanley) hugh.fraser at morganstanley.com