Elgeti Ashdown Advisers was set up in spring 2007 by Ashdown Capital and Rolf Elgeti. The aim of the company is to advise investors on the purchase and management of German residential property.

BRIEF RESUMÉ OF ROLF ELGETI

Rolf Elgeti had been involved in German property investment for four years, acquiring and managing a €40m portfolio for friends whilst working in the City. Prior to Elgeti Ashdown, Rolf worked as a European macro analyst focusing on Germany for three investment banks in London, UBS, Commerzbank Securities and ABN AMRO. He graduated with an MBA from the University of Mannheim, Germany and received an MBA from ESSEC, Paris in 1999.

BRIEF RESUMÉ OF CHARLES MONEY-KYRLE

Prior to Ashdown Capital, Charles Money-Kyrle was at Citigroup as a real estate specialist and prior to that, GE Capital in New York and London. He graduated with an MA degree from Wadham, Oxford in 1983, and received an MBA from INSEAD, Fontainbleau in 1989.