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International Funding for Paper Mill in China

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Chinese Business News indicated that Guangxi Hwagain Group Co., Ltd (“Hwagain” or the “Company”) plans to expand its tissue production capacity in Jiangxi Province (the “Project”). China

Hwagain is now a medium-sized, integrated bamboo and scrap wood based pulp and paper producer. In 2008, Hwagain diversified into tissue papers. The Company plans to shift its focus from printing and writing papers to tissues, and significantly build up its tissue production.

Mr. Ning Jun, aged 50, is the Chairman of Hwagain and the Sponsor for the Project. He is responsible for the strategic planning and overall management of the Company. Mr. Ning has more than 15 years experience in pulp and paper, and is well regarded in the local business community as a competent, credible entrepreneur. Under his leadership, the Company evolved from a small sugar plant into an integrated pulp and paper producer with good reputation in southern China.

The total value of the Project Funding is estimated at$245 million. Hindmarsh LLC t/as Hindmarsh Finance proposed an IFC investment is a $15-25 million equity investment.

The Proposed Project will be implemented by Hwagain in Ganzhou City of Jiangxi Province, China. The Production facility is located in an industrial park developed by the local government.