SCIMITAR ORYX PARTNERS

In Asia, Scimitar Oryx Partners currently focuses on purchasing Rice farms under cultivation in Vietnam. We believe that investing in plantations today will reap massive returns in the future as the world's population quickly approaches 7 billion and roughly half of its citizens view Rice as the main staple of their diet. Continuing explosive population growth, rapid urbanization and massive growth in the price of basic foods, are all factors that lead Scimitar Oryx Partners to believe that on the current yield of a farm and on the underlying farm land itself, investing in rice farms offers a low risk, high return proposition for investors. Specifically in Vietnam, despite years of stagnant agricultural productivity (roughly 4% year on year growth), a slow rate of investment in agricultural and relatively underdeveloped infrastructure, Scimitar Oryx Partners believe that the government has made significant progress in recent years in policy reform including allocating land use rights to individuals, and allowing for higher prices for crops. In addition, the government has made significant progress in improving rural area transport access for goods (areas lacking in transport access has been halved since 1999). Hence, as land reform, price reform and transportation networks continue to improve domestically, we believe that investing in arable land in Vietnam will continue to be attractive for years to come. Together with our local partners, we have been active in identifying proven rice fields where Scimitar Oryx Partners can purchase and then lease back land to the local farmers enabling the farmers to free capital to improve their farming techniques/tecnologies - thereby improving crop yields benefiting both the land owner and operator.