Source: MCS Group                      Date: 15 June, 2011

Standard Bank has agreed to lend the MCS Group up to USD150 million, primarily to finance the construction of the 220-kW electric power line connecting Mandalgovi, Tavan Tolgoi and Oyu Tolgoi projects. The loan will also finance a number of other projects that include the construction of residential complexes suited to the needs and financial capacities of young adults in the capital city, introduction of the latest information and communications technology, and development and construction of healthcare and sports resorts.

This is the third loan from Standard Bank to the Group, and its size “is an affirmation of the strength of MCS Group’s activities, management and organization, meeting with the highest international standards,” said Mr. L. Gantumur, VP of MCS Group. Mr. Andrew King, CEO Standard Bank Asia, also said the “quantum of the facility amount is a reflection of MCS Group’s leading position in the Mongolian market and the high quality of its operations and management teams.”