Access International is neither an equipment vendor nor are we power plant operators, engineers or contractors. We structure the deals and secure the financing for the projects that we develop. As a result, we adopt a partnership approach in all our projects.

Over the last 16 years, Access International witnessed the successful completion of all the projects that we undertook to develop.

Four geothermal power projects with a total investment of some $ 420 mil., are in operation and delivering power to the respective national grids.

The 670 MW (gross), $ 1.2 billion lignite fired Maritza East 1 project in Bulgaria has closed financing in December 2005.

Four other projects (2 coal fired and 2 gas fired) in Central and Eastern Europe representing some $ 2 billion are in project documentation phases.

Until mid 1997 all of our project development capabilities and activity were exclusively committed to Ormat International Inc., wholly owned subsidiary of Ormat industries Ltd, at that time a specialized Manufacturer / Vendor of power generation equipment for geothermal power plants.

Jointly with the Philippines branch office of the Japanese trading giant, Itochu Corporation, as our local partners, we developed all of the Philippines geothermal projects on behalf of Ormat International Inc. and Ormat Industries Ltd.

This development included the following projects:

• The 17 MW Mak –Ban geothermal plant as the world’s first Build Transfer Operate (BTO) financing concept. The power plant is in operation since 1994.

• The 132 MW Upper Mahiao geothermal power plant on the island of Leyte, Philippines. It is owned and operated by the CalEnergy company of Omaha, Nebraska, a wholly owned subsidiary of MIDAMERICAN ENERGY HOLDINGS COMPANY. The power plant is in operation since 1996.

• The 50 MW Leyte Optimization geothermal power plant owned by Ormat International with minority share participations by Itochu Corporation, Japan and the Tokyo utility Electric Power Development Company (EPDC). The power plant is in operation since 1998.

The Maritza East 1 Project in Bulgaria:

At the end of 1997 we started the development of the 670 MW (gross) Maritza East 1 project in Bulgaria jointly with Bank One of Columbus Ohio (that later on merged with First Chicago Bank). Bank One is represented in the project by Delphos International, at that time a division of the Bank One banking investment arm. In October 1998, following award after an international bid, an Access International Special Purpose Company (SPP) executed an Energy Conversion Contract with Natzionalna Elektricheska Kompania (NEK), Bulgaria’s national utility, as the project’s customer and power off-taker.

In September of 1999, AES Horizons Ltd., a wholly owned UK subsidiary of the US AES Corporation, joined the project as its future operator by acquiring controlling interest in the project. The project is jointly owned today by AES and by Access International (through our wholly owned SPP) on behalf of ourselves, Bank One and a Bulgarian local partner.

The project is at present at its construction stage with the French giant Alstom Power as our appointed EPC contractor, with a target date of first operation of August, 2008.

Two Combined Heat and Power (CHP) gas combined cycle power plants.

These two projects are developed by Access International jointly with Mitsubishi Heavy Industries Ltd of Japan on a limited partnership basis, each partner owning 50% in each one of the projects. The partnership enjoys the participation of a major engineering and construction firm in this central European country. The total investment will reach some $ 250 mil.

Two mine mouth coal fired power plants in two ex-Soviet Union Republics.

Both projects are developed on a limited partnership basis with the SES Tlmace company of the Slovak Republic. We own 2/3 of the equity in each project (through two Special Purpose Companies, respectively) on behalf of ourselves and of Delphos International. The remaining 1/3 is owned by SES Tlmace.

• A 220 MW, $ 300 mil. coal fired project. The off take agreements have already been executed and we are completing the remaining documentation requirements prior to the selection of the future operator and the appointment of the EPC contractor. Structuring of the financial package will start in the 1st quarter of 2002.

• The 1st 600MW phase $ 700 mil., of a total of 2,400 MW coal fired project. This project includes the upgrade of the local electrical grid. At present we are negotiating the off take agreements.

From 1986, prior to founding Access International Inc., Jacob Menahem has spent several years with the LUZ Group that pioneered the development of large size solar thermal power plants based on LUZ proprietary technologies. The LUZ project development activities resulted in a cluster of solar thermal power plants in the Californian Mojave dessert totaling over 250 MW of solar power, all privately funded and privately owned.