ASCOT VENTURE CAPITAL LIMITED PLEDGES 125- MILLION US DOLLAR.

Ascot Venture Capital Limited (AVC) has announces its significant pledge of 125-million US Dollars for the development of entrepreneurship on the African continent.

According to AVC’s Board of Directors the 125-million US Dollars forms part of the proceeds that are generated from the company’s sale of its 20% interest in Professional Investors Group www.professionalinvestorsgroup.com to an international corporate network group.

The shareholders have approved the generous donation on the company’s annual general meeting that was held during August 2006 at Cape Town. This clearly illustrates the company’s and its shareholders commitment to invest in the future of the African continent and its people.

The 125-million US Dollars will be presented to the specialist philanthropical organization, Global Association of Billionaires and Millionaires (GABM) www.gabm-pinc.com for the fair and just allocation as well as the management thereof in terms of AVC’s corporate social responsibility guidelines.

GABM’s objective with the funds is to establish an entrepreneurial development fund, which will be managed in accordance with a business model that will make it self-sustainable for generations to come.

GABM has indicated that as a result of this donation, its immediate goal is to drastically expand its African organizational capacity, by inviting professional individuals with a passion for philanthropy to apply for exclusive ambassador positions in the organization.

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