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PUBLIC LENDER & INSURER INFRASTRUCTURE

FINANCE SUMMIT 2005Exploring New Risk Management Solutions for Asian Infrastructure Finance

9-10 June 2005, Meritus Mandarin Singapore

1st Annual Conference

ATTEND THIS SUMMIT AND n EXPLORE potential solutions to risk management concerns which prevent greater private sector investment in

Asia’s infrastructure sectorn IDENTIFY ideas to increase cooperation among multilateral development banks, export credit agencies, other

government-backed financial institutions, commercial banks, and borrowers to enable greater private sector investment in Asian infrastructure

n DETERMINE how multilateral development banks and export credit agencies can help mitigate political risk, payment risks, and help mobilize private sector lending capital for Asian project finance transactions

n UNDERSTAND issues of concern to public lenders which shape their lending policiesn GRASP objectives of borrowers, and commercial banks regarding assistance required from public lenders to

address key risk management issues in the Asian infrastructure market

JOIN AN INTER-ACTIVE DISCUSSION WITH TOP INDUSTRY LEADERS ON WAYS TO OVERCOME OBSTACLES TO PRIVATE SECTOR INFRASTRUCTURE INVESTMENT, INCLUDING:

Werner Liepach, Director, Office of Cofinancing Operations, Asian Development Bank (ADB)Martin Endelman, Principal Cofinancing Officer, Office of Cofinancing Operations, Asian Development Bank (ADB)

Christophe Bellinger, Senior Cofinancing Specialist, Office of Cofinancing Operations, Asian Development Bank (ADB)Laurent Demey, Director, Thailand, Agence Francaise de Development

Andreas Klocke, Director, Head Of S.E.A. Regional Office, Kreditanstalt Für Wiederaufbau (KfW)Daniel Nichols, Vice President, Investment Development & Economic Growth, Overseas Private Investment Corporation (OPIC)

John Wasielewski, Director, Office of Development Credit, United States Agency for International Development (USAID)Brian Little, Senior Vice President & Regional Head of Integrated Energy, ABN Amro Bank

Surender Singh, Vice President, Asia Development, AES Transpower Pte. Ltd.Vijay Sethu, Head of Project Finance, ANZ Investment Bank

Colin Chen, First Vice President, Deputy Head of Project Finance Global Finance Group, Asian Investment Banking Division, Bank of Tokyo-Mitsubishi, Ltd.

Nicolas Vix, Head of Asia Project Finance, Calyon BankJohn Stefan Robertsson, Executive Director, Finance, CLP Power Asia

Joris Dierckx, Vice President, Global Export & Project Finance Asia, Fortis Bank S.A./N.V.James F. Quirk III, Regional Director, Political, Credit and Terrorism Risks, Asia Marsh (Singapore) Pte. Ltd.

Peter Wick, Senior Vice President, Marubeni Asian Power Ltd.David Gore, Managing Director, Project Finance & Advisory, Societe Generale Asia Limited

Nila Davda, Vice President & Senior Underwriter, Sovereign Risk Insurance Ltd.Conor McCoole, Director, Project and Export Finance, Standard Chartered Bank

David Gardner, Head of Project Finance, Sumitomo Mitsui Banking CorporationStephan Truchot, Project Finance Director – Asia, Veolia Water Asia

PUBLIC LENDER INFRASTRUCTURE FINANCE SUMMITPUBLIC LENDER & INSURER INFRASTRUCTURE FINANCE SUMMIT 2005ABOUT THE SUMMIT

Many believe that multilateral development banks and export credit agencies will play the leading role in expanding private sector investment in Asia’s infrastructure sector. Ever since the Asian financial crisis, the role of multi-lateral lending agencies, export credit agencies and other public sector financial institutions has taken on increased importance in the Asia project finance market. Very few major project finance transactions can be closed in certain Asian markets without the involvement of public sector lenders.

Governments in countries such as China, India, Indonesia, the Philippines, and Thailand have invited the private sector to invest in power, water, transportation and telecommunications infrastructure in order to meet growing demand. However, existing projects which are in default, regulatory uncertainty, sub-sovereign credit risk, management difficulties among certain sub-sovereign entities and general political risk all stand in the way of opening the gates to wide-scale private sector investment in infrastructure. Can multilateral lenders and export credit agencies develop solutions to these obstacles through guarantee products, extended political risk cover, direct lending, and other measures? The Public Lender Infrastructure Finance Summit will explore what to expect from public sector financial institutions in solving risk management issues in Asian infrastructure finance, and attempt to set realistic expectations.

ATTEND THIS SUMMIT TO n EXPLORE potential solutions to risk

management concerns which prevent greater private sector investment in Asia’s infrastructure sector

n IDENTIFY ideas to increase cooperation among multilateral development banks, export credit agencies, other government-backed financial institutions, commercial banks, and borrowers to enable greater private sector investment in Asian infrastructure

n DETERMINE how multilateral development banks and export credit agencies can help mitigate political risk, payment risks, and help mobilize private sector lending capital for Asian project finance transactions

n UNDERSTAND issues of concern to public lenders which shape their lending policies

n GRASP objectives of borrowers, and commercial banks regarding assistance required from public lenders to address key risk management issues in the Asian infrastructure market

WHO SHOULD ATTENDThis Summit is specifically targeted at senior executives responsible for infrastructure development and finance in Asian markets including;

Heads of Project Finance, Chief Executives, Chief Financial Officers, Chief Operating Officers, Managing Directors, General Managers, Heads of Corporate & Strategic Planning, Heads of Business Development, Partners, Investors, Contractors, Government Officials, Developers, Bankers, Lawyers and Consultants involved in or interested in Infrastructure Development around the region (Power, Water, Telecoms, Roads, Ports etc.)

Public Lender Infrastructure Finance Summit 2005 will offer significant value to companies and financial institutions considering opportunities in Asia’s infrastructure market, whether in the power, roads, telecoms, water, ports or rail sectors. The Summit will:

l Avoid generalities on the status of Asia’s infrastructure market, and focus instead on specific structural impediments to investment and potential solutions;

l Utilize a format which is inter-active, in order to encourage “brainstorming” and an exchange of views among key industry leaders;

l Enable investors who are new to the infrastructure market in Asia to quickly come up to speed on lessons learned from the past decade and explore strategies to develop viable, profitable projects; and

l Offer an opportunity to network among key decision-makers in Asia’s infrastructure finance and development community.

PUBLIC LENDER INFRASTRUCTURE FINANCE SUMMITPUBLIC LENDER & INSURER INFRASTRUCTURE FINANCE SUMMIT 2005 • Colin Chen, First Vice President, Deputy Head of Project Finance Global Finance Group, Asian Investment Banking Division, Bank of Tokyo-Mitsubishi, Ltd. • Conor McCoole, Director, Project and Export Finance, Standard Chartered Bank

12:15 Lunch

2:00 Borrower Comments

• Stephan Truchot, Project Finance Director, Asia, Veolia Water Asia • Surender Singh, Vice President, Development, AES Transpower Pte. Ltd • John Stefan Robertsson, Executive Director, Finance, CLP Power Asia Limited • Peter Wick, Senior Vice President, Marubeni Asian Power Limited

2:45 Public Lender Response

• Werner Liepach, Director, Office of Cofinancing Operations, Asian Development Bank (ADB) • Daniel Nichols, Vice President, Investment Development & Economic Growth, Overseas Private Investment Corporation (OPIC) • Laurent Demey, Director, Thailand, Agence Francaise de Development

3:30 Afternoon Tea

4:00 SESSION 2 – NEW OPPORTUNITIES AND ISSUES IN INFRASTRUCTURE FINANCE: SUB-SOVEREIGN LENDING AND LOCAL CURRENCY FINANCE – HYPE OR REALITY?

n Is it real - and for whom? What are the key drivers?

n Recent trends and innovations?

n What are the implications for international lenders and borrowers?

n How to assess risks and price the products?

• Brian Little, Senior Vice President & Regional Head of Integrated Energy, ABN-AMRO Bank • Martin Endelman, Principal Cofinancing Specialist, Office of Cofinancing Operations, Asian Development Bank (ADB) • David Gardner, Head of Project Finance, Sumitomo Mitsui Banking Corporation • David Gore, Managing Director, Project Finance & Advisory, Societe Generale Asia Limited

5:30 Chairman’s Closing Remarks and End of Day One

5:30 Networking Cocktail Reception – An ideal way to network with your peers in a relaxed atmosphere

DAY 1, Thursday, 9th June 2005

8:00 Registration and Morning Coffee

9:00 Chairman’s Welcome, Opening Remarks Joseph A. Anderson, Managing Partner, Singapore Office Morrison & Foerster LLP

SESSION 1 – COMPARATIVE LOAN AND GUARANTEE PRODUCTS AMONG PUBLIC LENDERS AND NEW INITIATIVES – DO THEY MEET MARKET NEEDS?

9:15 Part 1

n What do MDBs and ECAs offer and how do products complement or compete with each other? Are they competitive and relevant?

n What are the mandates of MDBs and ECAs? How have they done in the past and do new trends require a change in future?

• Werner Liepach, Director, Office of Cofinancing Operations, Asian Development Bank (ADB) • Daniel Nichols, Vice President, Investment Development & Economic Growth, Overseas Private Investment Corporation (OPIC) • Andreas Klocke, Director, Head of S.E.A. Regional Office, Kreditanstalt für Wiederaufbau (KfW)

10:15 Morning Coffee

10:45 Continuation of Discussion

• Laurent Demey, Director, Thailand, Agence Francaise de Development • John Wasielewski, Director, Office of Development Credit, United States Agency

for International Development (USAID)

Part 2

n Wishlist: What do commercial bank lenders and borrowers expect from MDBs? What has to change?

n Is there a void that existing institutions can’t fill (due to Charter or policy limitations) and thus a need for new specialised vehicles?

11:15 Commercial Bank Comments

• Nicolas Vix, Head of Asia Project Finance, Calyon Bank • Joris Dierckx, Vice President, Global Export & Project Finance Asia, Fortis Bank S.A./N.V. • David Gore, Managing Director, Project Finance & Advisory, Societe Generale Asia Limited

9-10 June 2005, Meritus Mandarin Singapore

• Christophe Bellinger, Senior Cofinancing Specialist, Office of Cofinancing Operations, Asian Development Bank (ADB) • Vijay Sethu, Head of Project Finance, ANZ Investment Bank • Nicolas Vix, Head of Asia Project Finance, Calyon Bank • Surender Singh, Vice President, Development, AES Transpower Pte. Ltd.

12:00 Lunch

1:30 SESSION 4 – RISK MANAGEMENT

n Public and private lenders approaches to risk management? How do they establish and manage risk limits?

n How is counterparty risk of re-insurance and/or GOR transactions managed?

n Organizational arrangements for risk management – who is in charge for what?

n What is the position of various MDBs and commercial financiers on the issue of leverage on contingent liabilities?

n Has Basle II changed the landscape and the case for partnerships – and in which direction?

n Capital backing/allocation for guarantee operations - what are best practices?

• Werner Liepach, Director, Office of Cofinancing Operations, Asian Development Bank (ADB) • Andreas Klocke, Director, Head of S.E.A. Regional Office, Kreditanstalt für Wiederaufbau (KfW) • James F. Quirk III, Regional Director, Political, Credit and Terrorism Risks, Asia, Marsh (Singapore) Pte. Ltd. • Nila Davda, Vice President & Senior Underwriter, Sovereign Risk Insurance Ltd. • Daniel Nichols, Vice President, Investment Development & Economic Growth, Overseas Private Investment Corporation (OPIC) • David Gardner, Head of Project Finance, Sumitomo Mitsui Banking Corporation

3:00 Coffee Break

3:30 Questions & Answers and Chairman’s Closing Remarks

4:00 Close of Conference

DAY 2, Friday 10th June 2005

8:45 Morning Coffee

9:00 Chairman’s Welcome, Opening Remarks Joseph A. Anderson, Managing Partner, Singapore Office Morrison & Foerster LLP

9:15 SESSION 3 – PUBLIC-PRIVATE RISK SHARING PARTNERSHIP: WHAT DOES IT TAKE TO WORK?

n What is the “natural role” and justification for MDBs as cofinanciers or risk sharing partners?

n Relevance and limitations of the preferred creditor status (PCS) concept? Does it work, and/or what does it take to make it work?

n What is the position of the various MDBs in sharing PCS? Under which instruments? With which partners?

n Is ‘fronting’ through lender/guarantor-of-record the answer or a non-starter? What are differences versus re-insurance and traditional PRI?

n How can MDBs crowd-in the market (through syndication or reinsurance structures), and how much risk should MDBs keep on their own account?

n What does it take to make cooperation between MDBs and ECAs more effective?

• Christophe Bellinger, Senior Cofinancing Specialist, Office of Cofinancing Operations, Asian Development Bank (ADB) • Nila Davda, Vice President & Senior Underwriter, Sovereign Risk Insurance Ltd. • Vijay Sethu, Head of Project Finance, ANZ Investment Bank • Andreas Klocke, Director, Head of S.E.A. Regional Office, Kreditanstalt für Wiederaufbau (KfW) • David Gore, Managing Director, Project Finance & Advisory, Societe Generale Asia Limited

10:15 Morning Coffee

10:45 PANEL DISCUSSION :

IF SOMETHING GOES WRONG: DISPUTE RESOLUTION ASSISTANCE AND EXPERIENCES? WHAT ARE REALISTIC EXPECTATIONS FOR PUBLIC LENDER INTERRACTION?

• Andreas Klocke, Director, Head of S.E.A. Regional Office, Kreditanstalt für Wiederaufbau (KfW)

ABOUT YOUR SUPPORTING ORGANISATIONSAsian Development Bank (“ADB”)

The Asian Development Bank is a multilateral development finance institution owned by 63 members, 45 from Asia and the Pacific and 18 from other parts of the globe. ADB’s vision is an Asia and Pacific region free of poverty. Its mission is to help its developing member countries reduce poverty and improve their living conditions and quality of life. ADB’s main instruments in providing help to its developing member countries are policy dialogues, loans, technical assistance, grants, guarantees, and equity investments. ADB’s annual lending volume is typically about $6 billion, with technical assistance provided usually totaling about $180 million a year. ADB’s headquarters is in Manila. It has 25 offices around the world. ADB’s staff numbers more than 2,000 employees from over 50 countries. For more information, visit www.adb.org.

International Enterprise Singapore (“IE Singapore”)Formerly known as the Singapore Trade Development Board, International Enterprise Singapore (IE Singapore) is the lead agency spearheading Singapore’s efforts to develop its external economic wing. Our mission is to help Singapore-based companies grow and internationalise successfully. Our vision is to be an expert agency in firm level growth, market intelligence and internationalisation strategies. We offer a wide range of services in 35 locations worldwide by using a “3C” framework of assistance – Competency, Connections and Capital. We provide market information, and assist enterprises to develop their business capabilities and find overseas partners. At the same time, IE Singapore works to position Singapore as a base for foreign businesses to expand into the region in partnership with Singapore-based companies. Singapore’s unique advantages of strategic location, stable government, competitive workforce, and pro-business environment make it the ideal launch pad for globalisation. For more information, please visit www.iesingapore.com.

International Private Water Association (“IPWA”)The International Private Water Association (IPWA) was formed in 1999 to address the changing dynamics that are taking place in individual countries around the world within the context of the evolving water/wastewater infrastructure project and service arena. The Association serves as a conduit between the public and private sector players - facilitating effective timely dialogues that highlight the critical need for speed, transparency and cost-effectiveness in the development/operations of global water and wastewater projects, and the practical means for achieving those elements in projects. More importantly, IPWA is uniquely recognized as one of the few independent organizations that address, as a central part of its mission, the potential expanding role of the private sector as a viable partner to governments and “parastatals” within the global water/wastewater project and service arena. IPWA provides ministerial dialogues, workshops, networking receptions, information resources, financial tool options, and model project framework options.

For more information, contact Kathy Shandling at KShandling@nyc.rr.com or at +1 (202) 873-0920.

IN ASSOCIATION WITHAbout Morrison & Foerster

Morrison & Foerster LLP is a full service international U.S. law firm with 1,000 attorneys worldwide. Our Project Finance and Development Group includes lawyers located in our offices in Singapore, Hong Kong, Beijing, Shanghai, Tokyo, Washington, D.C., New York, San Francisco, Los Angeles, and London offices. We represent lenders, developers, multilateral and bilateral agencies and governments in major international infrastructure projects. The Project Finance Group is able to provide clients with both sectoral and geographic depth of experience, having worked on projects across all major infrastructure categories including energy, water, ports, pipelines and transportation in projects in Africa, Asia, Latin America and the Middle East. Our Project Finance attorneys have extensive experience in the following industry areas:

n Power-Lender Representation n Power-Developer Representation n Pipelines n Oil & Gas n Water Sector Projects n Ports n Airports n Light Rail & Railroads n Major Industrial Projects n Workouts & Restructurings n International Arbitration n Political Risk Insurance n Hotels & Resorts

The firm is honored to have been retained as international legal counsel to the Beijing Organizing Committee for the XXIX Olympiad to provide a range of legal advice in connection with Beijing’s preparing for and hosting the 2008 Summer Games, including contract negotiation for venue construction and procurement and other related matters. For more information, visit www.mofo.com.

SPONSORSHIP & EXHIBITION OPPORTUNITIESA limited number of sponsorship and exhibition opportunities exist for companies to profile their products and services. Promote your company internationally and maximize on your Asian exposure by sponsoring or exhibiting at the 1st Annual Public Lender Infrastructure Finance Summit. The next generation of Infrastructure projects will be worth billions to the players in the infrastructure arena. Reach a carefully target audience of key executives with influential power in the region’s infrastructure industry. Table Top Exhibition Space will be strictly limited and will be on a first come first served basis at S$4500 per exhibition table. Confirm your Sponsorship or Reserve your exhibition space early to avoid being disappointed.

For further details, contact TOTAL FOCUS CONFERENCES at Tel: 65-6245 3550; Fax : 65-6441 9832; email: clogan@pacific.net.sg; www.sgtfc.com.

REGISTER NOW! FAX BACK ON (65) 6441 9832

To register for the workshop, fax this whole page to:

Total Focus Conferences5B Crescent Road, Singapore 439292

Fax: (65) 6441 9832

Delegates are entitled to One discount per person registration ONLY in the event that more than one discount is applicable, delegates will receive the discount with the highest value.

administrative charges. Cancellations received in writing 2 weeks prior to the event will receive 75% refund. Cancellations received in writing 1 week to the event will receive 50% refund. Thereafter cancellations are not refundable although participants can be substituted at any time.

SPONSORSHIP OPPORTUNITIESSponsorship opportunities are available with a range of exposure and investment level. Extensive visibility as a sponsor/exhibitor will ensure your direct personal access to potential clients whilst enhancing your company profile. Please call (65) 6245 3550 for more details.

ENQUIRIESAll enquiries, telephone bookings, payments and changes to delegate information should be directed to 5B Crescent Road, Singapore 439292. Tel: (65) 6245 3550; Fax: (65) 6441 9832.

ACCOMMODATIONHotel Charges are at the delegate’s own account and reservations can be made directly with the hotel on the above numbers. Delegates will be responsible for their own travel arrangements and accommodation.

Room Rates: South Tower Deluxe Room S$190+++

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❏ PUBLIC LENDER & INSURER INFRASTRUCTURE FINANCE SUMMIT 2005

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❏ Asian Development Bank (ADB)

❏ International Private Water Association (IPWA)

❏ International Enterprise Singapore (IE Singapore)

5 EASY WAYS TO REGISTER

BY TELEPHONE: (65) 6245 3550)

BY FAX: (65) 6441 98322

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REGISTRATION FORM

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GROUP DISCOUNTTotal Focus Conferences recognises the value of group training and is pleased to offer a 10% discount for 3 registrations from the same company. Register 4 delegates and the 5th comes for free.

CONFIRMATIONAll registrations, once invoiced are considered as confirmed. The cancellation clauses will apply for any cancellations received after participants are invoiced.

CANCELLATIONSCancellations received in writing one month prior to the event will receive full refund less 10% for

PLEASE SELECT PAYMENT METHODPayment is required prior to the conference.❏ Payments in US Dollars must be made

by telegraphic transfer into Account No: 532-045853-001 with Oversea-Chinese Banking Corporation Ltd, Upper Serangoon Branch, 777 Upper Serangoon Road #01-01, Singapore 534645.

❏ Cheques/Bank Draft in Singapore Dollars ONLY must be crossed with A/C Payee Only and made payable to Total Focus Conferences. Please mail your cheque or bank draft to Total Focus Conferences, 5B Crescent Road, Singapore 439292.

DATES & VENUE9-10 June 2005Meritus Mandarin Singapore333 Orchard Road, Singapore 238867Tel: (65) 6737 2200 Fax: (65) 6738 2382

WORKSHOP FEES

2-day Summit Fee S$2495/-

Please ensure that you fax or send in your registration form.

Registration No.: 52852773L

PUBLIC LENDER & INSURER INFRASTRUCTURE FINANCE SUMMIT 2005