NEWS

Paul Hastings continues expansion of its Asia Projects Group

June 20, 2006

Paul Hastings continues expansion of its Asia Projects Group

Hong Kong/Tokyo (June 20, 2006) – Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading global law firm, is pleased to announce that Alex Regan, partner, and Yumiko Abe, associate, have joined the firm’s Asia Projects Group.  Mr. Regan is based in Hong Kong and Ms. Abe is based in Tokyo.

Mr. Regan has broad experience in project finance, leveraged finance and Islamic finance transactions. He has successfully completed project and leveraged financings in a number of countries with a particular focus on Asia during the last ten years, including India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Singapore and Vietnam.

Says Raj Pande, Head of Paul Hastings’ Asia Project Finance Group, “We are excited to have Alex and Yumiko join our team. Their addition bolsters our existing regional capabilities and demonstrates Paul Hastings’ commitment to providing a leading team of projects experts to service our clients throughout the Asia region and in Japan.” He added: “Alex is recognized as one of Asia’s most experienced projects lawyers and has worked on a number of cutting-edge projects transactions regionally. Also, with Yumiko we have enhanced our junior ranks with a very capable and dynamic young lawyer.”

Mr. Regan has represented commercial lenders, financial institutions, multilateral development agencies, borrowers and sponsors in a broad range of sectors.  These sectors include: oil and petrochemical refineries, gas pipelines, power generation plants, fixed and cellular telecommunications facilities, mining and metals, rail transportation, roads, water facilities and greenfield manufacturing facilities.

Ms. Abe has been actively involved in representing Japanese and international banks in various financing and project financing transactions.  She also has been involved in mergers and acquisitions transactions and capital markets matters, including advisory work on US securities laws issues.  Ms. Abe has worked on JBIC financings and NEXI-backed financings, and has worked on a number of corporate and securities related matters for a major telecommunications company.

For the past 9 years, Mr. Regan practiced in the New York, London and Singapore offices of Shearman & Sterling. He is admitted as a solicitor in England and Wales and is a member of the State Bar of New York.  Ms. Abe is a New York qualified lawyer with experience working in New York and Tokyo. Prior to joining the Firm, Ms. Abe was an associate in the Tokyo office of Milbank, Tweed, Hadley & McCloy.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,000 attorneys in 17 offices. In Asia, Paul Hastings is among the largest international law firms with a broad range of practices and over 145 attorneys in Hong Kong, Beijing, Shanghai and Tokyo qualified to practice law in Hong Kong, China, Japan, Singapore, Australia, England & Wales and the US.  For more  information,  visit  www.paulhastings.com.

Additional Information - Representative Transactions:

Mr. Regan’s transactions include representation of:

• BNP Paribas and SMBC as lead arrangers of a US$250 million acquisition finance facility supporting Tanjong plc’s purchase of two power plants in Egypt from Electricite de France.

• Tiberon Minerals of Canada in connection with the development and limited-recourse financing of its tungsten, bismuth, fluorspar and copper mining project in Vietnam involving finance from HVB, Fortis, Standard Chartered, Caterpillar Financial and Export Development Canada (EDC), and political risk insurance from MIGA.

• HSBC (as sole lead arranger) in connection with the S$240 million project financing of the Horizon oil terminal project in Singapore sponsored by Emirates National Oil Company (ENOC) of Dubai, SK Corp and others.  This project was awarded “Asia Pacific Oil & Gas Deal of the Year 2005” by Project Finance International.

• JBIC and the lead arrangers (Calyon, SMBC, HSBC, Bangkok Bank and Krung Thai Bank) in connection with the US$800 million project financing of the Ratchaburi Power Project in Thailand sponsored by PTT, Hongkong Electric, Chubu Electric, Toyota Tsusho, Ratchaburi Holdings and Saha Union.

• Optimal Group of Companies (sponsors of which are Petronas, Dow Chemical and Sasol) in connection with the US$800 million limited-recourse financing for its petrochemical plants in Malaysia involving the funding of three separate project companies through a combination of two US dollar conventional syndicated loans and two ringgit Islamic project bonds lead arranged by HSBC and Maybank. This project received 6 “Deal of the Year 2004” awards from leading publications: Project Finance Magazine, Asiamoney, The Banker, CFO Asia, Euromoney and Project Finance International.

• TA Orange (sponsors of which are Charoen Pokphand Group and France Telecom) in connection with the US$870 million limited-recourse financing of its mobile telecoms network in Thailand involving finance from IFC, KfW and a syndicate of Thai banks.  This project received “Project Finance Deal of the Year 2004” from Asian Legal Business.

• Bank of America, Citigroup and Goldman Sachs as lead arrangers in connection with the US$180 million senior debt financing for the leveraged buyout of GE Capital International Services in India by General Atlantic Partners and Oak Hill Capital.

• JBIC, HVB, Dresdner Bank and KfW in connection with the US$300 project financing of the 210 MW Mindanao coal-fired power project in the Philippines sponsored by STEAG of Germany and involving PRI from GKA and NEXI.

• ADB and Islamic Development Bank in connection with the US$150 million project financing of a hydroelectric power project in Pakistan involving both conventional loans and Islamic finance.