INTERNATIONAL VENTURE CAPITAL ASSOCIATION’S (IVCA) SOUND REPUTATION USED TO COMMIT FRAUD

June 2005

Several venture capital associations have made International Venture Capital Association (IVCA) aware of certain fraudulent investment houses that are using IVCA’s sound reputation and proud history to defraud investors out of millions of dollars.

As IVCA is extremely concerned about this alleged illegal practices, IVCA will not hesitate to prosecute anyone – pretending to be a member of IVCA – in their efforts to defraud unsuspected investors. IVCA categorically distance itself from any such fraudulent entities and/or activities and condone such actions in the strongest way possible.

IVCA is part of the private investment group, Paulsmeier Inc. Group founded in 1981. IVCA currently represents approximately 1200 funding syndicates with a collective funding capacity exceeding $115-billion.

IVCA wish to place it on record that it does not, in any way - under any circumstances, accept or manage any funds or investments on behalf of investors. IVCA is merely an association of venture capital funders which has the following function, purpose and objective:

Function of IVCA

The function of IVCA is to accommodate discerning venture capital financiers and investment angels seeking viable and high yielding investment and project opportunities to invest in.

Furthermore, IVCA seeks to provide its associate members with opportunities that will fulfill their social and moral aspirations. This is achieved by funding responsible business opportunities and project developments that create work opportunities, work expertise and infrastructure.

Purpose of IVCA

The purpose of IVCA is to:

• Provide visionary financiers with a choice from a broad range of viable projects from the Paulsmeier Inc. Group’s project portfolio.
• Represent and promote funder members to associate members seeking venture capital.
• Represent funder members’ interests in negotiations with international governments and Chambers of Commerce.
• Facilitate the exchange of important information between funder members.
• Improve the image of the venture capital industry by encouraging funder members to comply with the highest standard of corporate governance and professional practice, as well as moral and ethical values.

Objective of IVCA

The objective of IVCA is to provide associate funder members with the following potential opportunities:

• Formal association with an exclusive international venture capital network organization of stature and integrity.
• Provision with an array of excellent projects in need of funding.
• Access to up-to-date research and general information about the venture capital industry.
• Exposure to a substantial number of investment bankers and project brokers.
• Access to high yielding projects with reduced risk as a result of strict pre-evaluation processes.

IVCA’s position regarding these alleged illegal practices is very clear. IVCA will not tolerate it and are prepared to co-operate with any international authority and the venture capital industry as a whole, to get rid of rogue elements whose actions may discredit the venture capital industry.

IVCA is requesting anyone who has information in this regard to contact Mark Paulsmeier, group chairman, at info@paulsmeierincgroup.com.

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