SEAF’S AFGHAN GROWTH FINANCE AND RANA TECHNOLOGIES ENTERPRISES PARTNER TO EXPAND INTERNET SERVICE IN AFGHANISTAN

SEAF-AGF expands its partnership with RANA Technologies Enterprises (RTE) through a follow-on investment and helps the company make history by becoming the first ISP/ICT company in Afghanistan to launch a project to offer broadband wireless internet services to all 34 provinces of Afghanistan. The investment will enable RTE to offer high quality internet service at affordable prices to more Afghans throughout the country. Through the planned expansion, RTE plans to increase internet penetration in Afghanistan from 20% currently to nearly 80% in three years. The expansion will also add 1,000 jobs to the Afghan economy.

Afghanistan’s Minister of Telecommunications and Information Technology, Amir Zai Sangin, has praised RTE for its significant contribution to the promotion and development of Afghanistan’s telecom sector. RTE and the telecom sector continue to be vital to the growth of the local economy, creating more than 100,000 well-paying jobs for local Afghans while increasing the availability of quality products and services.

“SEAF is pleased to be expanding our promising partnership with RANA Technologies,” Richard Sheridan, CEO at SEAF stated. “By providing greater access to internet, RANA is helping to bridge the digital divide in Afghanistan and is enabling individuals and businesses to participate more actively in the global economy.”

“We are excited to be partnering with SEAF and AGF in our shared goal to expand internet access in Afghanistan,” said RTE Executive Vice President, Farhad Ghafoor. “SEAF’s global experience combined with our domestic expertise position RANA to make a valuable impact on Afghan citizens and businesses across the country.”

About RANA TECHNOLOGIES ENTERPRISES

RTE is the leading Internet Service Provider (ISP) & Information and Communications (ICT) Enterprise in Afghanistan, with its corporate office in Kabul and regional offices in Herat, Mazaar-e-Sharif, Kandahar and Jalalabad, Hairatan, and Ghardiz. RTE’s nation-wide network and operations are managed by a team of over 130 experienced, trained and qualified international experts and Afghans.

In the last five years, RTE has successfully developed strong project conceptualization, planning, end-to-end project management, and has achieved quality assurance and customer satisfaction of nearly 100%.

About SEAF

SEAF is a not-for-profit global fund management group specializing in providing growth capital and business support to SMEs in developing countries that are underserved by traditional sources of capital. Headquartered in Washington, D.C., SEAF manages private equity funds in emerging markets through a network of offices around the world. For over 20 years SEAF has supported the sustainable growth of SMEs through structured debt and equity growth capital and extensive post-investment business development assistance. SEAF’s experience making more than 330 investments in small businesses has allowed it to identify and invest in promising companies that deliver both positive financial results, as well as significant economic and social benefits to their employees and their communities.

For more information about SEAF, AGF and SEAF’s other emerging market funds, please visit www.seaf.com.

For more information on RANA Technologies please visit www.ranatech.com or contact Farhad Ghafoor at fghafoor@ranatech.com.