PME African Infra - TMP Uganda Transaction

RNS Number:1294N

PME African Infrastructure Opps PLC

01 February 2008

PME AFRICAN INFRASTRUCTURE OPPORTUNITIES PLC

('PME' or the 'Company')

(AIM: PMEA.L; PMEW.L)

PME announces TMP Uganda transaction

PME today announced the exchange of contracts for an investment in TMP Uganda

Limited ('TMP Uganda').

TMP Uganda is a telecommunications start-up based in Uganda and which has been

awarded licences to provide telecommunications services throughout Uganda. It

aims to be the number one broadband provider in Uganda by delivering high

quality broadband services throughout the country using a WiMax technology

platform.

Investment highlights:

* PME has provided TMP Uganda with debt financing in order to accelerate the

roll-out of its WiMax based network platform.

* Subject to Ugandan regulatory approval, PME will also acquire a significant

controlling equity position in TMP Uganda.

* The initial investment is for a total of US$2.5 million with an option to

invest a further US$17.5 million.

TMP Uganda is owned and managed by TMP Uganda Management AS, which is a

Norwegian based spin-off of the multinational telecommunications giant, Telenor

ASA. TMP Uganda Management AS has a wealth of experience in building and

managing large telecommunications networks in developing countries and

particularly in Africa.

TMP Uganda Management will remain as a shareholder in TMP Uganda and will

continue to be responsible for providing to it all requisite management and

technical expertise.

Richard Bouma, CEO of PME Infrastructure Managers Limited, commented:

'TMP Uganda and the relationship with TMP Management AS are at the heart of

PME's telecommunication strategy. We believe that Uganda's continued economic

development and the spectacular growth in mobile penetration rates are

inextricably linked. We are excited to be investing in the next phase of this

growth, which we believe will bring broadband and data connectivity to a rapidly

increasing percentage of the Ugandan population.'

Further enquiries:

Principle Capital on behalf of Anne Dalen +44 20 7240 3222

PME Infrastructure Managers Limited

Smith & Williamson Siobhan Sergeant +44 20 7131 4000

Corporate Finance Limited

Fairfax I.S. PLC James King +44 207 598 5368

Bell Pottinger Dan de Belder +44 207 861 3232

Helvetica (Isle of Man) Company Limited Clara Parisot +41 798 249 788

Note to Editors:

- PME African Infrastructure Opportunities plc ('PME') is a company investing in

sub-Saharan African infrastructure and infrastructure related industries. Its

shares were admitted to AIM in July 2007 raising US$180 million.

- PME was established to invest in sub-Saharan African infrastructure and

infrastructure related industries with a view to generating attractive

returns, principally through capital growth. It is targeting opportunities

arising from years of under investment in sub-Saharan African infrastructure

where that infrastructure will be instrumental in allowing the continent's

economic development to continue to grow.

- The Investment Manager is PME Infrastructure Manager Limited. The Investment

Manager is responsible for identifying new investment opportunities.

- The Investment Manager is 31.7% owned by Principle Capital Holdings S.A.

(AIM: PCX.L)