EXP ANDING HORIZONS

ANNUAL REPORT 2004 1 6 / 1 7

2004 INVESTMENT ACTIVITIES

AFRICA AND THE MIDDLE EAST

AFGHANISTAN

BOTSWANA

Covalent Energy Corporation Goldham PTY, Ltd. T/A Power Generation $8,500,000 Finance

Kalahari Gas Corporation

CONGO

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $385,557 Insurance

Seaboard Overseas Limited Minoterie du Congo, S.A. Flour Mill & Animal $10,781,789 Insurance

Feed Facility

CONGO, DEMOCRATIC REPUBLIC OF 

Alexander’s Group Congo Gates SPRL Telecommunications $15,000,000 Insurance

Telecommunications, Inc.

Number One Contracting Bureau for Coordination of Market Bid Bond/Road Construction $45,000 Insurance

Corporation Infrastructure

Number One Contracting Corporation Ministry of Finance of DRC Bid Bond/Road Construction $180,000 Insurance

EGYPT

Apache Corporation Various Apache Egypt Gas Development $300,000,000 Insurance

Concession Subsidiaries

ERITREA

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $272,925 Insurance

Team Technology, Inc. National Computing Center of Eritrea Computer Assembly Plant $523,250 Insurance

ETHIOPIA

MedPharm, Inc. MedPharm, Inc. Clinical Laboratory $149,400 Insurance

GHANA

Dr. Paul A. Lartey & Lagray Chemical Company, Ltd. Pharmaceuticals $4,901,000 Finance

Dr. Alexandra E. Graham

GUINEA-BISSAU

Ronald D. Jordan c/o ROTA Rota International Exporting, LLC Organic Cashew Nuts $1,670,000 Finance

International Exporting, LLC $810,000 Insurance

IRAQ

ARCADD, Inc. Cinema Sinbad Hotel Company Architectural Design Services $7,200,000 Insurance

Aziz Khudairi Khudairi Trading Company, Ltd. Construction Equipment $8,100,000 Insurance

American Equipment Company, N/A Construction Equipment $14,400,000 Insurance

Incorporated

Citibank, N.A. Citibank, N.A. (Al-Mansour Vehicle Distribution $22,500,000 Finance

Automotive Co.)

Citibank N.A. IRAQ Middle Market Loans to Middle Market $24,800,000 Finance

Development Foundation Enterprises

Citibank N.A. IRAQ Middle Market Loans to Middle Market $68,000,000 Finance

Facility-Tranche B Enterprises

Iraq Recovery Fund, LLC TBD Investment Fund $50,000,000 Insurance

David M. Morris Morris & McDaniel, Inc. Personnel Placement & $740,000 Finance

Training Services

Motorola Credit Corporation Orascom Telecom Iraq Corp. Cellular network $21,000,000 Insurance

H&W Holdings Group, LLC Dijlat Al-khair Real Estate Housing $8,175,000 Insurance

Services Co.

KENYA

Harold F. & Judith Flynn, Jr. GeoSurvey International, LLC Land Registration, Tax Mapping $840,000 Finance

& Collection System

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $710,285 Insurance

JNP Properties, Inc. Jopa Villas, LLC Duplex Apartment Units $7,100,000 Finance

JORDAN

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $54,155 Insurance

Beau Lendman c/o Middle East Middle East Central Gas, Ltd. Liquid Propane Gas Distribution $250,000 Finance

Central Gas, Ltd.

LEBANON

Velma Hermez & Selma Osseiran PETCO S.A.L. Plastic Bottles & Preforms $9,496,500 Finance

MALAWI

Railroad Development Central East Africa Railways Railway Rehabilitation $11,900,000 Finance

Corporation (USA) Company Limited

MALI

Robert Paul Marshall dba Adoberia Sahel, S.A. Tannery $1,000,000 Finance

Sahel International Leather $293,320 Insurance

MAURITIUS

Casamar Holdings, Inc. Casamar Mauritius, Ltd. Tuna Fishing Nets $1,100,000 Finance

MOZAMBIQUE

David Herbert GameTrackers Management, Ltd./ Lodge at Vilanculos Coastal $10,000,000 Finance

Mercury Investments Wildlife Sanctuary

Railway Development Corredor De Desenvolvimento Railway Rehabilitation $17,700,000 Finance

Corporation (USA) Do Norte S.A.R.L.

NIGERIA

AfriHUB, LLC AfriHUB Nigeria Limited Information $13,100,000 Insurance

Technology Facilities 

Danos & Curole Marine Danos & Curole Nigeria Limited Lift Boat Services $12,060,000 Insurance

Contractors, LLC

Exxon Corporation Natural Gas Liquids (II) Natural Gas Liquids $325,000,000 Finance

Financing Company Extraction

RWANDA

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $562,786 Insurance

Tea Importers, Inc. Societe Rwandaise Pour La Tea Plantation $1,100,000 Finance

Prod/Comm Du The

SOUTH AFRICA

Purple Rhino Imports, Inc. Purple Rhino Imports, Inc. Artwork & Curios $100,000 Finance

TANZANIA

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $1,479,884 Insurance

TUNISIA

Riggs Bank N.A. American Cooperative School School Renovation $1,060,052 Insurance

of Tunis (ACST) Association
EXP ANDING HORIZONS

ANNUAL REPORT 2004 1 8 / 1 9

2004 INVESTMENT ACTIVITIES

WEST BANK & GAZA

Morganti Development, LLC Gaza Power Generating Power Generation $48,150,000 Insurance

Private Limited Company

ZIMBABWE

K&S International, Inc. Merodent Zimbabwe (Pvt.), Ltd. Toothpaste & over-the-counter $14,294 Insurance

ointments & toiletries

ASIA AND THE PACIFIC

BANGLADESH

Citibank, N.A. Pacific Bangladesh Cellular Telephone Network $18,000,000 Finance

Telecommunications, Ltd.

INDIA

Domes International, Inc. Domes International, Inc. Modular Home Manufacturing $360,000 Insurance

INDONESIA

El Paso Corporation PT Energy Sengkang Power Generation $12,236,088 Insurance

General Electric Energy Rentals, Inc. PT Mega Power Mandiri Power Generation $540,000 Insurance

MONGOLIA

Edward Nef Santis Educational Services, LLC English Language Instruction School 158,000 Finance

Nueces Investment Trust, Ltd. IKH Tokhoirol XXK Gold Mine $883,313 Insurance

PAKISTAN

Sweetwater International, Inc. Sweetwater Pakistan (Private), Ltd. Water & Soil $1,125,900 Insurance

Treatment Equipment

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $807,482 Insurance

PHILIPPINES

New Hampshire Insurance Co. CBK Power Company Limited Power Generation $50,000,000 Insurance

of Harrisburg, PA

General Electric Energy The National Power Corporation Power Generation $9,180,000 Insurance

Rentals, Inc.

Richard Gould & Jerome Rotando Golden Cypress Water Co., Ltd. Bottled Water Manufacturing $198,444 Insurance

& Distribution

Richard Gould, Jerome Rotando, Golden Cypress Water Co., Ltd. Bottled Water Manufacturing $348,000 Finance

& Almera Guba-Gould & Distribution

VIETNAM

Kimberly-Clark Corp. Kimberly-Clark Vietnam Co., Ltd. Hygienic Products $4,240,800 Insurance

ASIA REGIONAL

Citibank N.A. Citibank Asia Framework Framework Agreement $125,000,000 Finance

Clearwater Capital Partners, LLC Clearwater Capital Partners Direct Equity Fund $40,000,000 Finance

Investments II LP

EUROPE AND INDEPENDENT STATES

AZERBAIJAN

BTC Pipeline Project 2003 Trust The Baku-Tbilisi-Ceyhan Oil Pipeline $141,800,000 Insurance

Pipeline Company

International Rescue Committee International Rescue Committee, Inc. Humanitarian services $352,863 Insurance

Jeff St. Clair Baku Oil Tools, Ltd. Oil Well Perforating $1,200,000 Finance

Equipment

BOSNIA-HERZEGOVINA

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $360,565 Insurance

CROATIA

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $131,557 Insurance

Private Export Funding Corporation Hrvatske Autoceste d.o.o. Motorway $250,000,000 Insurance

GEORGIA

Scott A. Sarran & Jenik Radon Georgian Leasing Company Small & Medium-sized $1,000,000 Finance

Enterprise Leasing

IRELAND (REPUBLIC OF)

Agronix, Inc. Organic Waste Returns, Ltd. Organic Waste Processing $2,900,000 Finance

/DBA/Agronix Irelend

KOSOVO

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $62,200 Insurance

MOLDOVA

International Communications International Communications Prepaid Phone Card Services $150,000 Finance

Systems, Inc. Systems, Inc.

POLAND

SEAF, LLC Biuro ProjekTowania Business Software Services $1,000,000 Finance

Systemow Cyfrowych S.A.

ROMANIA

Nabiel Fareed S.C. “International Communication Telecommunications & $180,000 Insurance

Systems” S.R.L. Internet Services

RUSSIA

Carlson Restaurants Worldwide, Inc. Rostik Restaurants Limited Restaurant Franchises $7,737,000 Finance

Globus International Limited Liability Co. Cold Storage Warehouse $4,879,000 Finance

Resources Corp “Globus Cold Storage”

International Rescue Committee International Rescue Committee, Inc. Humanitarian Services $469,177 Insurance

ISP Optics Corporation ZAO “ISP Optics, Saint-Petersburg” Optical Components Manufacture $243,000 Insurance

Joseph Caldwell & Tiger Machinery Company, LLC Machinery Distributorship $4,000,000 Finance

Michael Thompson

Subway Russia, LLC Subway Russia, LLC Restaurant Franchise $380,000 Finance

The U.S. Russia Investment Fund Deltacredit Bank Long-term Residential $125,000,000 Finance

Mortgage Loans

Three Papas, LLC Three Papas, LLC Restaurant Franchise $2,000,000 Finance

Thomas P. Scichili & Zao Star Networks Internet Service Provider $2,000,000 Finance

Lawrence S. Detmer

SERBIA

Motorola Israel, Ltd. Ministry of Interior, Republic of Serbia Telecommunications $21,600,000 Insurance

Uniworld Holdings, Ltd. ATD Putnik a.d., Belgrade Bid Bond/Tourism Privatization $20,610,000 Insurance

Uniworld Holdings, Ltd. Srbija Turist, a.d., Nis Bid Bond/Tourism Privatization $4,140,000 Insurance

TURKEY

Turkish-American Development SFC Entegre Orman Urunleri Fiberboard products $9,652,500 Finance

Partners, LLC (“TADP”) Sanayi Ve Tic AS

UKRAINE *

*Information has temporarily been redacted, including to protect the safety of implementing partners.
EXP ANDING HORIZONS

ANNUAL REPORT 2004 2 0 / 2 1

Magnum Machining Incorporated Magnum Machining Incorporated Machining Facility $1,300,000 Finance

Modular Prefab-USA, LLC Prefabricados y Modulares Prefabricated Housing $10,000,000 Finance

De Monterrey(PYMM)

Movie Theater Entertainment Xtreme Cinemas, SRL Movie Theater $2,655,000 Finance

Group, Inc. De C.V./IEHC, Inc.

Kent Hamilton Southern Valley Fruit & Agriculture $3,300,000 Finance

Vegetable, Inc.

NICARAGUA

Colite Outdoor, LLC Colite Nicaragua, S.A. Commercial Billboard Leasing $93,000 Insurance

Seminole Tribe of Florida Seminole S.A. Cattle Ranch $4,500,000 Insurance

MKJ Exploraciones MKJ Exploraciones Oil & Gas Exploration $4,000,000 Insurance

Internacionales, LLC Internacionales, S.A.

MKJ Exploraciones MKJ Exploraciones Oil & Gas Exploration $4,000,000 Insurance

Internacionales, LLC Internacionales, S.A

Oklahoma-Nicaragua, LLC Industria Oklahoma-Nicaragua, S.A. Oil & Gas Exploration $270,000 Insurance

PANAMA

Colite Outdoor, LLC Colite Panama, S.A. Commercial Billboard Leasing $450,000 Insurance

PERU

National Union Fire Insurance Co. Alterra Partners, LLC Airport $9,160,000 Insurance

ST. MAARTEN

Christopher Muglia & Leeward Island Ferry Transport, Inc. Ferry Transport $8,450,000 Finance

Barry Bhola

URUGUAY

El Saladero USA, LLC/ El Saladero, UY SRL Cattle Ranch $4,860,000 Insurance

Tedford V. Eidson

LATIN AMERICA REGIONAL

Joseph Townsend AmerIndia International, Inc. Tourism $3,860,000 Finance

Citibank N.A. Citibank CCAII Framework Framework Agreement $100,000,000 Finance

Darby Overseas Partners, Ltd. Darby-BBVA Latin American Direct Equity Fund $55,000,000 Finance

Holdings, LLC

Sylvia Blanchet, Jack Bodger, ForesTrade, Inc. Agriculture $5,460,000 Finance

& Cynthia Bodger

TeleworX Group, Inc. Newcom, Ltd. Telecommunications $9,447,750 Finance

Palador Realty I GP, LLC Paladin Realty Latin America Direct Equity Fund $35,000,000 Finance

Investors II,LP.

ALL OPIC COUNTRIES

Aegis Capital Corporation, LLC Aegis Investment Company Mezzanine Debt/Equity in $30,000,000 Finance

Companies Enhancing 

Global Security

AIG Capital Partners, Inc. AIG Global Emerging Direct Equity Fund $100,000,000 Finance

Markets Fund II, L.P.

Developing World Markets BlueOrchard Microfinance Micro-lending $53,900,000 Finance

Microfinance LLC Securities I, LLC

National City Bank National City Bank Framework Agreement $200,000,000 Finance

Global Framework

Wachovia Bank Wachovia Bank Global Framework Framework Agreement $100,000,000 Finance

National Association

UPS Capital Corp. UPS Capital Corp Framework Framework Agreement $6,000,000 Finance

2004 INVESTMENT ACTIVITIES

UZBEKISTAN

Erik Brooks Owen/O&S Consulting Malika Hotel Bukhara, LLC Tourist Hotel & Buses $400,000 Finance

Erik Brooks Owen/O&S Consulting Khiva Malikasi, Ltd. Hotel $560,000 Insurance

Erik Brooks Owen/O&S Consulting Takoma, Ltd. Hotel $620,000 Insurance

TIS, Ltd. Tashkent International School Co-educational Day School $1,530,000 Insurance

$1,657,000 Finance

THE AMERICAS

ARGENTINA

Bravo Energy Latin America, LLC Bravo Energy Argentina SCA Fuel Oil Recycling $1,550,000 Finance

BOLIVIA

Coeur d’Alene Mines Corporation Empresa Minera Manquiri, S.A. Silver Mining $60,000,000 Insurance

BRAZIL

Bank of New York Brasil Telecom, S.A. Telecommunications $16,875,000 Insurance

Computer Services International, Inc. CSI Latina Financial, Inc. Commercial Leases $10,000,000 Finance

Douglas Carlberg, Dennis Cote, Ruralfone, Inc. Cellular Telephone Networks $202,500 Insurance

& Robin Foor $3,375,000 Finance

Princeton Healthcare, Inc. Princeton Healthcare Medical Consulting Practice $150,000 Finance

$72,000 Insurance

UBS Securities, LLC Petroleo Brasileiro S.A. Oil & Gas Exploration $110,000,000 Insurance

CHILE

Stephen W. Houghton/ Compania Minera Pimenton S.A. Gold Mining $2,800,000 Finance

South American Gold &

Copper, Ltd.

MBIA Insurance Corporation Sociedad Concesionaria Vespucio Toll Road $200,000,000 Finance

Norte Expres

COLOMBIA

Sada Joshi & Claudette Joshi Joshi Technology International, Inc. Oil Well Drilling $3,800,000 Finance

COSTA RICA

Colite Outdoor, LLC Colite Costa Rica, S.A. Commercial Billboard Leasing $90,000 Insurance

GUATEMALA

Alvaro Enrique Luna, Alvaro Luna Administradora De Inversiones Commercial/Residential Building $1,246,539 Finance

Peggy, S.A.

Colite Outdoor, LLC Colite Guatemala, S.A. Commercial Billboard Leasing $910,000 Insurance

HONDURAS

Colite Outdoor, LLC Colite Honduras, S.A. Commercial Billboard Leasing $135,000 Insurance

E+Co, Inc. E+CO, Inc. Power Generation $100,000 Finance

JAMAICA

Wachovia Bank, N.A. Trans Jamaican Highway Limited Toll Road $75,000,000 Insurance

MEXICO

Computer Services International, Inc. CSI Latina Financial, Inc. Commercial Leases $20,000,000 Finance

*

*Information has temporarily been redacted, including to protect the safety of implementing partners.









REPORT DESIGN: LOMANGINO STUDIO, INC.

PRINTING: MOSAIC 

Credits & Acknowledgements

COVER

Hrvatske Autoceste d.o.o.

PAGE 00 / 01

Christopher Astriab — OPIC

PAGE 04 / 05

Bonnie Cybulko — OPIC

Constance Tzioumis — OPIC

Dulce Zahniser — OPIC

Barbara Gibian — OPIC

Marysue Shor — OPIC

Bonnie Cybulko — OPIC

Sweetwater International, Inc.

PAGE 06/07

Sweetwater International, Inc.

Bruce Cameron — OPIC

Karl Christensen — OPIC

Ron Jordan, R.O.T.A. International

Dulce Zahniser — OPIC

Karl Christensen — OPIC

Karl Christensen — OPIC

PAGE 08/09

Sweetwater International, Inc.

Thomas Debass — OPIC

Marysue Shore — OPIC

Thomas Debass — OPIC

Thomas Debass — OPIC

Bonnie Cybulko — OPIC

Bonnie Cybulko — OPIC

PAGE 10/11

Suzanne Etcheverry — OPIC

Suzanne Etcheverry — OPIC

Suzanne Etcheverry — OPIC

USAID

Suzanne Etcheverry — OPIC

Suzanne Etcheverry — OPIC

PAGE 12/13

Dulce Zahniser — OPIC

Hrvatske Autoceste d.o.o.

Karl Christensen — OPIC

Karl Christensen — OPIC

Karl Christensen — OPIC

Sweetwater International, Inc.

Karl Christensen — OPIC

PAGE 14/15

Sweetwater International, Inc. — OPIC

Thomas Debass — OPIC

Suzanne Etcheverry — OPIC

Sweetwater International, Inc.

Thomas Debass — OPIC

Thomas Debass — OPIC

BACK COVER

Bonnie Cybulko — OPIC

Thomas Debass — OPIC

Suzanne Etcheverry — OPIC

Constance Tzioumis — OPIC