Baring Asia Announces Investment in Noah Technology Holdings Limited

HONG KONG, Jul 19, 2004 (BUSINESS WIRE) -- Baring Private Equity Partners Asia ("Baring Asia") today announced that it has invested $15 million in Noah Technology Holdings Limited ("Noah"). Headquartered in Shenzhen, China, and founded in 1999, Noah develops, manufactures, and distributes electronic educational products to domestic Chinese consumers. In 2003, its electronic dictionary products were ranked second in China with a 22% market share.

Mr. Jean Eric Salata, Managing Partner of Baring Asia, said: "Noah is an investment in a dynamic growth sector. The sheer number of primary and secondary students in China (125 million and 91 million, respectively) makes the educational products market very attractive from an investment standpoint. The recent initiatives by the Chinese government to increase English language teaching in schools is part of the long term investment opportunity we are targeting. This latest investment is part of our strategy to invest in companies in China that are direct beneficiaries of growing domestic demand. This is a long term investment for Baring Asia, and we are planning to list the company on the Hong Kong Stock Exchange in the next 2 years."

About Baring Asia

The Baring Asia Private Equity Fund II and the Baring Asia Private Equity Fund are funds managed by Baring Private Equity Asia. Baring Asia has over US$560 million in capital committed to investment in Asia. Baring Asia specialises in providing expansion capital to rapidly growing middle market companies in Asia Pacific that require capital for expansion, recapitalisation or founders' liquidity. Baring Asia has offices in Hong Kong, Singapore, Shanghai, Delhi, and San Francisco and has 20 investment professionals on its investment team.

www.bpepasia.com

About Baring Private Equity International

Founded in 1984, Baring Private Equity International is a leading international private equity asset manager. The firm invests in every major market outside of the USA via six regional fund groups with local investment teams in Western and Central Europe, Asia, India, Latin America and Russia.

With more than $2 billion in funds under management, Baring Private Equity International has one of the most extensive on-the-ground networks of any international private equity provider. Its superior global reach provides the resources and investment expertise to help entrepreneurs around the world build world-class businesses.

Baring Private Equity International is currently finalising an agreed MBO from parent company, ING Group. Under the terms of the agreement, the Partners managing the regional funds have acquired ownership of their respective management companies, all of which will continue to use the Baring Private Equity brand.

www.bpep.com 

SOURCE: Baring Private Equity Partners

Baring Private Equity Partners
Rachel Lambert, +44 20 7290 5004
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Erin Burke, +1 631 757 0793
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Henrietta Hirst, + 44 20 7262 6648
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