London / Accra / Lusaka, May 6, 2008 - Renaissance Capital, the specialist investment bank for high opportunity emerging markets, is further increasing its presence in sub-Saharan Africa by purchasing minority equity stakes in New World Investments, a Ghanaian brokerage, and Pangaea/EMI Securities, a Zambian brokerage. The firm has also hired Abena Amoah to be Head of Investment Banking for Ghana and CEO of the Ghanaian business.

The strategic alliances between Renaissance Capital and the two brokerages follow a long period of cooperation and a number of transactions in which Renaissance has worked with the brokerages in their respective markets. Both will work closely with Renaissance's investment banking, sales and trading, capital markets and research personnel in their offices in Lagos, Nairobi and London.

Neil Harvey, CEO Africa & Middle East at Renaissance Group, said: "Ghana and Zambia are strategically important markets for us in our African development plan. The investments we have made in these domestic businesses give us an opportunity to partner with leading brokers and advisors and play a role in the exciting development of both countries' financial markets and their importance in the region as a whole."

Kwame Pianim, outgoing CEO and director at New World Investments in Ghana, said: "Renaissance Group has the resources, as well as the technological infrastructure, to help scale up and deepen financial intermediation and investment banking services in Ghana. The Ghanaian economy is widely viewed as having exciting prospects, and the recent discovery of oil and gas in commercial quantities has strengthened the national drive to position the country as the financial gateway to the West African sub-region. We are thrilled to have the Renaissance Group as partners at this time."

Abena Amoah joins Renaissance as Head of Investment Banking, Ghana, and CEO of the business, which will be renamed NewWorld Renaissance Securities. She joins from Strategic African Securities, a corporate finance advisory firm in Ghana that was appointed on five out of the seven largest corporate finance transactions in the last three years. Ms. Amoah's experience covers mergers and acquisitions advisory, stock market listings, financial valuations, investment management and research. She serves on the Boards of, among others, the Ghana Stock Exchange and the Venture Capital Trust Fund, and is an Assessor (Capital Markets Expert) to the High Courts of Ghana.

Zambia's Pangaea/EMI will be renamed Pangaea Renaissance Securities Ltd. Ceaser Siwale, Managing Director, said: "This investment of behalf of Renaissance is a result of our strong relationship and our transaction record history. This clearly marks a new leg in the delivery of sophisticated expertise and technical ability that we can offer our Zambian and international clients by bringing together some of the best professionals in the international and domestic market."

About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading investment banking firm in the CIS, Central Asia and Sub-Saharan Africa. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research and derivatives. Renaissance Capital is part of the Renaissance Group.

About Renaissance Group (www.renaissancegroup.com)
Renaissance Group is an independent group of investment banking, asset management, merchant banking and consumer finance companies, specialising in high-opportunity emerging markets. The Group began operations in Sub-Saharan Africa in 2006. It is creating the region's leading financial services platform, establishing pan-regional investment banking, stockbroking, research and asset management operations through its offices in Lagos and Nairobi. Renaissance Group has already invested US$500 million in Africa, including a share in ETI, a leading West African banking franchise already operating in 16 countries. It also led the international US$300 million equity offering by Nigeria's United Bank for Africa in April 2007 and the US$300 million equity offering by Nigeria's Access Bank in July 2007.