|                                                                                                                                                             |  | NEW CAUCASUS FUND                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
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|**BISNISHome PageSearchBISNISEmbassyReportsCountryReportsIndustryReportsPublicationsSourcesof FinanceLeadsand EventsExchangeRatesState ExportsOtherSources** |  | **July 1998**The Overseas Private Investment Corporation (OPIC) has signed a formal commitment for $30
million to support a new $46 million Caucasus Fund.  The fund will provide equity capital to
private sector projects in Armenia, Azerbaijan, and Georgia.  The Caucasus Fund is jointly
sponsored by Commonwealth Property Investors (CPI) and Junction Investors, Ltd.  Both CPI,
an affiliate of AEW International, and Junction are  Boston-based investment advisory firms with
activities in Georgia and Russia.  The fund will open offices in each of the three countries to
assure a steady flow of quality local opportunities and to provide careful management of the
fund's portfolio.Regional economic growth and diversification will be the fund's targets.  Particular emphasis will
be given to the agribusiness, real estate, transportation, and services sectors.  The fund will also
support infrastructure and development surrounding the Caspian oil pipeline project.  For more
information, contact Allison May Rosen of OPIC, at 202-336-8636.This report is provided courtesy of the Business Information Service for the Newly
Independent States (BISNIS)