Nex-Rubica and Emerging Africa Offer Index Series:
to Rate Companies Trading on 5 African Stock Markets

Nex-Rubica Emerging Africa Top 40 Index - Year End 2007

FOR IMMEDIATE RELEASE

New York, NY: December 5, 2006 - Emerging Africa Ltd. of New York and Nex-Rubica Analytics the Ratings and Market Data Group in London have joined forces to provide the Index Series tracking selected companies from five of Africa’s most liquid and active stock markets.

For ten years Emerging Africa (EA) via Bloomberg (EAR<GO>) has published daily information on companies listed on the16 stock exchanges of Africa…
“Teaming up with Nex-Rubica, EA can now offer market risk data as well as historic and reference data information on individual companies and their risk profiles,” according to Thomas Mims, founder and Managing Partner of Emerging Africa Limited. “The data are tailored for use by institutional investors, hedge funds managers, in fact, all international investors seeking a representative benchmark of African markets and shares they can realistically buy or sell individually or in a basket.”

Nex-Rubica, in the words of its Managing Director, Martin Orji, “serves as a conduit through which institutional investors and 600 of Africa’s largest companies can access liquidity provided by our network of on the ground brokers and dealers spread across Africa. With Emerging Africa we now service North America with the NXR Africa Indexes, Risk, Ratings and Reference Market Data, offering clients the confidence to trade African stocks, African government, state and corporate bonds. Providing an opportunity to analyze and mitigate the risks associated with local African capital market infrastructures and the general difficulties concerning direct investment in African securities.”

“Investors - large and small - seeking to engage with African stock markets have in the past found that access to reliable information from the capital markets is limited,” EA’s Thomas Mims acknowledges. “For 10 years we have worked to change this and to help bring the African capital markets into the global marketplace. The Top 40 companies selected represent the vanguard of increased capital flow into Africa, which at long last is beginning to happen, led by China, and followed by India, big US and international banks and, lately, hedge funds.”