The Fund expects that the value of the companies it invests in will grow by at least 33-50 percent per year. The Fund is jointly managed by Western Europe's largest environmental investor, CDC-Participations, and America's largest environmental investor, First Analysis Corp.

  The Fund invests in any business that improves the environment, particularly in the following sectors:

• efficient use of resources (energy saving, cleaner production methods)
• products, components or materials (i.e. filters, test equipment, insulation)
• recycling
• power plants, landfills and waste water treatment plants
• environmental design and construction services
• environmental consulting and financial services

  To consider an investment proposal, a business plan with five years of projected financials (income statement, balance sheet and cash flow) is required from the company, including descriptions of:

• the company's legal structure and historical performance (financial and structural)
• the company's future plans and how it will use the Fund's money
• the products and markets in which the company competes
• the company's competitors, customers and suppliers
• management/owners of the company
• the environmental performance of the company
• any legal or financial information relevant to the investment

  Upon receipt of the business plan, the Fund will analyse the proposal and provide an initial response within three weeks.

  The Fund has agents in Paris, Amsterdam, Chicago and Warsaw. In CEE, contact: PP Investments, Ul. Piaskowa 12c, 05510, Konstancin-Chylice, Poland. Tel: (48-22) 756-3232, Fax: (48-22) 756-4919, pool@zigzag.pl. Attn: Adam Pool.