Moving forward into 2009, the investment focus of FEM will be centered upon the following areas:

Current Portfolio Development - FEM will continue investing into its portfolio companies in order to make them market leaders within their segment.

Fund Management - FEM is in the process of creating a Private Partnership Fund which will be focused on the following business areas:

• Restructuring - Investing in the takeover and restructuring of existing companies with an eye on generating cash flow back to the parent company and ultimately exits to a strategic investor.
• Consolidation - Working within industry sectors to identify highly fragmented industries to consolidate many small players into one entity with a strong market position.