Denham Capital Management Appoints Louis van Pletsen to Head New London Office

Denham Capital Management LP ("Denham Capital"), a $2.3 billion
private equity fund manager focused on energy and commodities, today
announced that it has established a London office and has hired Dr.
Louis van Pletsen as Managing Director to head the new office,
beginning October 1, 2007. Dr. van Pletsen's primary responsibilities
will include origination of transactions in Europe, Russia/CIS, Asia,
the Middle East and Africa.

"Louis is a seasoned energy and commodities investor and we are
thrilled to welcome him to the Denham team," said Stu Porter, Managing
Partner of Denham Capital. "With more than twenty years of experience
in the energy sector, in both developed and emerging economies, we are
confident in Louis' ability to lead the London office and look forward
to his many contributions as we enter this exciting phase for Denham.
The establishment of a London office is a first step in our plans to
expand Denham's reach, capitalizing on our successful U.S. platform by
developing our capabilities in various international markets."

Dr. van Pletsen added, "I am excited to join the talented
professionals at Denham and look forward to the opportunity to build
upon their success internationally."

Most recently, from 2004, Dr. van Pletsen served as Managing
Director, Global Markets and Head of the International Energy Group at
Nomura International in London, responsible for marketing structured
finance, asset finance and capital markets capabilities to the broader
energy and commodities sectors. Prior to this, he led continental
European origination of utility transactions for a global client list
at Credit Suisse First Boston (CSFB). From 1993 to 1997, Dr. van
Pletsen was head of international business development in London for
Eskom, Africa's largest utility. He began his career at the Industrial
Development Corporation of South Africa in 1986, a premier investment
house where for seven years he was responsible for corporate
investment strategy across a wide range of manufacturing and service
sectors. Louis holds a Doctorate in Economics from Rand University
(S.A.), an MCom from Free State University (S.A.), an MBA from Notre
Dame University (U.S.A.), a Higher Diploma in Company Law from Wits
University (S.A.) and an ADP from London Business School (U.K.).

About Denham Capital Management:

Founded by Stu Porter, an alumnus of Harvard Management Company,
Denham makes direct investments in the energy and commodities sectors,
including in businesses and assets involving natural resources, metals
and mining, power and utilities and energy-related infrastructure and
services. It invests globally, with investments currently in the US,
Canada, South America, Europe and Asia, and across all stages of the
corporate lifecycle, from development projects to mature, operating
businesses. Denham invests across the capital structure and typically
targets equity investments in the $50 million to $250 million range.
It currently has offices in Boston, Houston and New Jersey.