PANAFRA ENDORSES GLOBAL SULLIVAN PRINCIPLES

CINCINNATI, OH, January 9, 2007 – – Pan African Management and Development Company, Inc., “Panafra”, announced today that it has endorsed the Global Sullivan Principles, a philosophy of business conduct that encourages business support for human rights, economic justice, racial and gender equality, sustainable development and environmentally responsible behavior. Companies that endorse the Principles agree to respect the voluntary association of employees, to work within the communities in which they prosper to help improve the quality of life in those communities, and to train and provide opportunities for workers from disadvantaged backgrounds. The Principles also promote fair competition and respect for property and intellectual rights.

The Principles were developed by the late international civil rights leader Rev. Leon H. Sullivan and introduced in November 1999, by Rev. Sullivan and United Nations Secretary General Kofi Annan. The Principles have been endorsed by many of the world’s leading companies.

J. Tate, Panafra’s Chairman commented, “We believe it is essential to base our business decisions and corporate behavior on a foundation that respects and builds on the principles Rev. Sullivan developed in his work to help bring an end to apartheid in South Africa. Consequently as we commence operations, we feel it is essential to include the Principles as a cornerstone of our Ethics Policy and will strive at all times to focus on providing services that contribute positively to the welfare of all stakeholders thereby ensuring the sustainability of our initiatives and assisting the Company in promoting socially responsible and inclusive development in Africa”.

Panafra is a management and development company that works with small and medium sized enterprises in Africa to provide financial, managerial, and international market entry support in order to increase the economic reach of indigenous entrepreneurial individuals and communities. Panafra also provides opportunities for US-based stakeholders to participate in the rapid and unfolding economic development of Africa. Requests for information should be addressed to investorrelations@panafra.com.