Strategic Partnership: MCL, an international industrial and investment group.

The Company has previously announced that it is acting with a Strategic Partner to develop several opportunities in Africa, Middle East and South America with a view to develop those opportunities into viable projects.

Aladdin, in addition to its own capabilities, is now able to expand on that announcement and introduce its Strategic Partner, that it has been working with through their London base; MCL - an international industrial and investment group, operating in 11 countries around the world.

MCL has extensive interests in agriculture, agriculture related products, agricultural equipment, communication, mining, industrial companies, trading and logistics. These companies have relationships with and service provision to international clients, including the provision of logistical support to United Nations agencies.

MCL has an annual turnover in excess of USD 140 Million and gross assets in excess of USD 500 Million.

MCL has identified a number of oil and gas related transactions in territories mentioned above, and organized high-level governmental successful meetings with them together with Aladdin. As part of its own development plans, MCL has been actively developing these opportunities with its own team for some time.

In particular, both parties are pleased to convey their satisfaction to the steps taken to date in relation to the acquisition of major stake in oil and gas infrastructure capabilities in Africa, which is now in the final stages of negotiation. Aladdin is expecting further announcements to its shareholders in the very near future.

Whilst these negotiations have proceeded, MCL has been in discussion with Aladdin and involved Aladdin in the negotiations as stated above. MCL has appreciated the depth of knowledge and the technical expertise of the oil and gas industry available in Norway, together with the access to capital markets, which a Norwegian based company affords in this sector.

Accordingly, the MCL has taken an initial equity interest in Aladdin and made available a conditional financial support to Aladdin in the sum of up to USD 50 Million for it to act as a joint principal in the pending transactions.

For further information, please contact:

John E. Skajem, CEO 
Email: john.e.skajem@araca.no
Phone: +47 4188 7412