Sydinvest Afrika & Mellemoesten (the Fund) is a Denmark-based investment fund. The Fund is primarily engaged in making investments in companies listed and operating in Africa and the Middle East. As of March 1, 2012, most of the Fund's investments were located in Kuwait (21.1%). As of December 31, 2011, the Fund's investment portfolio included the equities of such companies, as Mobile Telecommunications (7.9%), National Bank of Kuwait (6.8%), Qatar National Bank (4.4%), MTN Group (2.9%), Access Bank Nigeria (2.7%) and Kuwait Projects Holdings (2.7%), among others. Sydinvest Afrika & Mellemoesten is a division of Investeringsforeningen Sydinvest A/S, a Denmark-based investment organization.