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New York, NY – August 18, 2006 – Blue Financial Services has announced that AIG Capital
Partners, Inc., a member company of AIG Global Investment Group, has invested up to $15.0 million in three chances to acquire a significant minority interest in their company. New York based investment bank Nova Capital Partners, LLC advised Blue Financial Services, which is a leading micro-finance company based in South Africa that focuses on providing micro lending products to people with limited access to formal banking. The equity capital, which was raised by Nova Global Markets Group (a subsidiary of Nova Capital Partners that is based in Johannesburg, South Africa), will support Blue Financial Services’ expansion in southern Africa.

Based in Pretoria, South Africa, Blue Financial Services is led by Mr. Dave Van Niekerk and Mr.Riaan Swart, founding shareholders, who saw the opportunity in 2002 to expand the model of micro-finance from South Africa into other undeserved countries in southern Africa. Blue Financial Services’ net revenues grew by 100% in 2005 and the company has successfully established 33 branches in three countries (South Africa, Botswana and Zambia) and has obtained regulatory approvals required to start businesses in three additional African nations (Kenya, Uganda, and Tanzania).

David Yeung, President and CEO of AIG Capital Partners said, “We are pleased to partner with Blue Financial Services and are excited about the company’s model, its team and the business opportunity in Africa. Micro-finance is a high growth industry in Africa and we feel that Blue Financial Services is a leader in expanding the micro-finance model beyond South Africa. This transaction further demonstrates the breadth and depth of AIG Capital Partners’ expertise in private equity transactions in worldwide emerging markets.”

“We are excited to have AIG Capital Partners as an investor,” said Dave Van Niekerk, CEO of Blue Financial Services. “We further believe that in addition to a strong financial supporter, AIG Capital Partners will also play a key role in guiding our expansion strategy through board representation.” Wm. Terry Krueger of Nova stated, “We are pleased to assist Blue as this further validates Nova’s global move into the undeserved emerging markets.”

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