Source: Rodman & Renshaw Capital Group, Inc.    Date: May 12, 2010

Rodman & Renshaw, a U.S.-based full-service investment bank, has signed a Memorandum of Understanding (MoU) with the Mineral Resources Authority of Mongolia (MRAM) to cooperate in efforts aimed at improving Mongolian mining companies’ understanding of issues pertaining to mining financing and their access to outside capital sources. The parties will also work to facilitate efficient and transparent flows of information and knowledge in the country’s overall mineral sector. An inaugural investment seminar will be held in June in Ulaanbaatar, and several additional events and activities are expected to take place this year within the framework of the partnership.

Mr. D. Batkhuyag, Chairman of MRAM, has said the partnership will foster the growth of domestic mining companies. Mr. Edward Rubin, CEO of Rodman & Renshaw, believes that the company’s “dual expertise in servicing growth companies in Asia and mining reinforce our ability to fulfill the objectives of this partnership”.