fRESS.

RI:LIEASE

Good a fterfil O'O'RII ~ II,ad ~ei, and '9 em!'tlemen of the Piress,. Tihan ~ you fo r 'V !D Ui Iii' attenda nee at ,$,~.];C~ rt ~ @tlce 'to th is 1m p 0 rtalnt: bni:e'fi n g"

My fu n nern e ils Briga dl'!!iF Geru'!NiI~ (RJW] Su~,aiman Mali ernmed Yahy,a All Aide!! wi. I aim here to put ~!he jj',E!Coro s'tralig ht~ I am the Imalj 0 rity' GWn~r of I[)owalfis tI o!d~,n glS ~A a nd U~ erefore ~:ts SIU bs f(nary illl1 Tanza 11~lall' DO/wans "fa nza mial Lim ~tedl. I 'Wli 1111 a d'~ ress my' twe com,pairl;i es 100 Illectively as ~Dowalns'.

Mry visit to T;anza nfa hes MO, rna nn ,cH)jelOtiIVles~'

.. te ,add ress ttl e m ~s~'iri'rormaftiDn ,9 n d mis~re pirese.nta,tlo rfI tal rg etedl at D'®w~ln5r an C]'

iii to u I'll dlE'rsta [lId wlilefther Ithe're ca 1"11 10 ~ ,EI fIl aim lea bh~ so 11JI,'~io I!'N to tih,!! 'CUI rrent siituH3['IJOn

,I halve p r,elP,8ll~ed astatement wh i,on I am I!1i,OW g,o ling 1~i(~1 di:s'ttJilb ute to Y'~'lf!'" 'Tilen my' ~e~ ml wi II be: a ~'a~ lab'~e' to ta kE!' some qu eSti,o I1!S,.

firsU)I I would il'ike: ito, ~ntlj\odY'~e ,my team ibriefly,. Oiill my right Is Stanley M!lJ"~i 'VY~u~, '~s th e lFilli8,U'lCe IDlfreetcH" o.f IDliJ'Walns Ta iillaln~a ILJi:I'iIi'I'~ted1, On my h~(rt ~s ]oh n Mines who is a prom ~rn e flit ~ntel"inatli'oril a I Jii.a wye r end fa as been acbi n g fo it Dowa n s :ffh'il OS ttl e' ,~'ta ~t of our d tspute with T,AN E'SCO;,

]!1l:1tlrojjl'u e1t'i ID Ii'I

'Tanza ill ie!' maric'ets ~'ts'ell'f as a respertfl!l l, I aW~8Ibi(nngJ !lilnd arttw,act i~e des'tina,Uo n tor ~o re'h;Jn di ired: i iilve:s"tment llhe expe nence ('tf mlV company.r l[)IowanS.; -in T,a,lil~aln la ha s bee 111- bhe c-o m plelte: cOI1i;tf',ad~ atioln t{!l ~lhalt ,a5lsert~on and ha is been not:h ing rno r'~ t nan ,iii f'IlHJ ntmare. I PUlt my iF'ijI itjh ~ n your eou ~trv ,and illil $,Iil'itered ''V0u 11" ca,11 ro inve'st at tn!e tl m,e' of YCN,l1 r ens [S;,. ,An you tiU:!iVe d~ l!1,e since m y ~;nv\est'm e nt I[S Inar,ass me, tod1;y yo IiJ ,c.ont;l'mue to h a r~ 55 me: this is s !'mp 1"1' not rn iii"

I aim prhia'te rna III 111 rn d I: have bee iii private in alll~ my blUSH n ess des I~ f1!'gfS tbre I)Jlg Iii om my Hfre" Y'O'l!!r treatmle!lI1t hl;a,s: [:omJ~u!'Iif!d me to de ~h,at I have neVIEU' haldl to co bef~rB~ ~D come '~orwa rei pu btlcs ~~y 'W I th my anger at ttn,e, i njustlc:e itt;~ ~'It y,o u ha'V,e i iill91ictedl (lIn me,

TANESC-:O 'gave assurances ,aiild made centractual O~Jimlmitmefi!its" 1"AlrNJES·CO then bJr'lea'~hi ed th ese assurances ~nd O~Hltra ctlJJ a I ~o m m ~tm,e jiltsi on 'ttl e fa Ise prem r~ thit T ANI E sea hard br~a ch ed ilb own interiil,i3l ~ procuFteme1fi~ p ~oceS'ses" This is, un hea rd ()If ~ ~ 'the WDr:1 di lof ~n~ennar~r,QfiI ~ I '00 rn rneree a nd wi~ I cause v'Our Cou ntry ,a n e.norm'GliI ~ dlamage~

Mry ba1ckig f'ound

M'V backgro ~,uild' ts In tlte, Sullta I'iU~ire, ,~'f o,ffl,i:) n, wh E:re 'Talflli Iii ial ll! sed to be' held ~ DIl h h~lh est~ m, 5talfti Iii 9 'from a sma n ,be!:Q 11'1'''11 Ai n g i ffI 2 .. 9'7 7 ~ I hal~e 9 n;,wn Ua e 'SelNlioes a, Trade LlC gro u p to iii mull ti' ee liIlaitli 0 Illi3 I 'J) resenee in the Mli ddle EastiJI, A;fiiucal and the tn dian subconti iii e nt, M V IOOm,PEl n tes now tu rn lover mere m:~,a n US$ :2!OtO Im,U I i@<fII ~:Jiid eml~ I ~'Y' over ,;2 5,~ 00 personnel. The 5,e Nlces &, Trade' LLC gf'O!JJ P is on.e' of tJhe pfif: -em lnent :b!JJsirn,e55es, In the MiI'ddl"~' lEast.

OW11iI· f5 til ~p

lIherel nas been mtJIclh un~Wcl!rrIEm"ed speculaitiofil abou i who owns Cowans Holdifll[gs SA. I ill m h ere 'to .$-& Un~ record str IIi g nt.,

Cowans is wholly foreign OWIii ed by rrn y~e I:f.

COlilsiderJllIlg Do-w,i'ns' llOroper condlllc[ of !tlile 'Po~er Off-tali<{,e Agifieement l(hef;'ie~l1.afrti!f referred to as the '~POA""I, Dow'alll5 and itE, pnncipals ere hiQ.h~[y dh~sa'tisfi<ed by. 'the waly. IDawa ns has bee iii beated. Fu r her 00 nsideri ng ttl • 1m gllnil[ . ude of [Jowans; Invest rnent at o\ll\~r lIS$ ILOOM, i!;!1~egaJtiofils, ~halt Dowarns lis .a1ll¥tlh~fil9 oth.e,r tJH~ln a Iprincipled sertous i~ve5tor are' both mi5,I'ea,ding [and maUcioliJs,.

-'owa[ns<; bl~kalrD nell

Cowarns Hold!i ngs SA wa,s 11111 t'Q[r:IP-Qralted il n ~a'te :2005. At that tl[me, I ih!ld 'b~~1il 'mHowililg Itlhe~ dJeve'hJpmemt ,of bt~e<:ommulilitcatJj'ol1l nfras ructure h'l East. A~rica with i[lfloorest. I linoond'ed that IDow,ans would become an invest'oF" intD T[anzanh~,~s remerg1lln'g teleeorn s~cto Ii by' p'ro\I'i d Ingl a high QIUClII tty s:ltarte'-O'f~'the -a,r!: fi Dlr,e cpt~.e' nE!'twork - 'hroug iii out th e 'oo'U1r1!ttJry i

A-s :[ hav.e a Ireiird!,y expl ai ned, n ami based ~n M ~$C9t 1m Omld n , :[ needed so meo n e tOI represent allllo promote' my plann.ed fibt.'iilJ! optiic project on a lI'leg[UlalF basis in Tallil.arnia. H ence I ,asked my fr,i end or m ny yea'r5i r Mw Rosta m, Azlz", Ito asslst i n se,t:~ln g up, tlhe ~ roj.~ ct. nn 0 rder th at Mr A::dz ha'cI sUff~, rent authority to re present mly campa rrv ci' In ,2'~ 05" I 9 Ifanted, 1M r ,A:z~z. a PQW@1i" of attorney"

:subseque'ntly. i[ tra rrs p·1 red 'th at, th e [en lilires-E! govern ment ffie nit till e T3rnz.iJ n;la ,go¥elinm~nt funds [to enabJl:e al g:overnmen,t"biM:ked 'fiblfe' opnc network 't1~J. [t; ~ illl5talh~dl negatlog the 'r,J b rei -optlc '0 pport~nllity m,l' c-o m,p~IIilY ha. d seen in Talfilz'alni[a. $(D I bll rifled my atte'ntiio iii to i nlfira,st!lf'uctu fie i Investments e IseWh ere, eh iefil "I ifir Asia ,',

Tih . :1006, POWEllf 'Cir\i'sfi 5,

~n 2D06~ TanZian i,a was suff:e[rl ng from an eztre m,e' Ijj,iroug lilt and 'TAN ESCOIS ~,a[rlg[elv hVd r() -dtHJendl&lllt: gle neJr,stj IiIg til paltt:ity' W'aJS d ra m[atkailly red l!I cedi'. Til e ,cDt:J[ntry was suffer.l1gl from IOfipPUlng ,powe,r outs aritdl the ~c-onomv warS in (1'1.515,. RDE,VeO llC {~h i-,oM ~ 'W~ M refer to. ~,S '" Ril dh me nd ') a ~'p.eirred not to h a v'€. rna d e much IPiI"log'f'\eS5, in impl- men' In9.[ ,tts, :ll ]l3MW project.

In Se ~tember 2006~ M'II" Rosta 1m Alilz cOr! tacte'd me Ito expla i n 'tine' pow"'fir elil :;h;, a I1d :~olllght to persuade m,2 t:Ol [2assis,t., It seemed 00 me at tllhalt tlme that Ta<i"illan[l, needed an infJIeS'~or wno h,ad g)oces:s t~[ resources and who[ oould 'moib nse[ fast,

You wUII remember iJlrwe TANESCO [appe'all trI ~h~ media ~1iII 2rO~6 'f'o.r anyc.ne 'With the ab~1 iiry to 9'ene rate 1 M W and ,a'l!liove te co ll1t.act T ANI ESCO to ,~ssi!St n gen.e'rat i ng eme ~9,e ncy' powe if,. TIne: nartiona I le~ectC'lldtv 9 ~Id was ,c-olla psi rag.

,As you know, eve[nfu~'Hv Ilowans reac ed "MI a[Qlf\eement witJlh Richmondi met, upon receipt ,o:r l'ANESCO"s COfil5ent to the assignment, DQWelr]'s would take, [ol'li'er Rh:hm,ond·~ Ij1'iIower Off-take ,Aglliee.men't w~th lANI::SCQ,.

Wh,~t I find pa,rt1Ic,ullarly ~shocklng today is that [e be:lnElvledi at Ithat time that IDowan'S we uld be weill f'E!io!lved bV l' ANJ ESC'O I ·G,overnmerrt and tn[~ PubUc s the hero caJf the' [hourr stepplngilin whe'n a,l!1 ·ens-e= was fali·~ ng:.

tDo.wans ttl e Il1 IrJti1I[ld OUlt US$ :w, 09M '~O ~ u[wna 81!2 the ttl! rbi nes, 'tJransfonm[e.r.s,~ b'~~ ~ niCie' of' plant eCllullPm:ent" engi,n-;@,lfs, nd install,aJtAoll1 e~pel!ts necessary to undertallKe' the project from harrd-eennedi cash r>eiOIiJ~OeS from Im'V group of companies,., Later ~III ,2,1)017

AS51gnmemt of the pow~r: off""'talke. Aglreemell1lt

On 21.50t December 2.0D6~ TAINESCO ccmsen'tf!d, to 1I1e a:ssignment !Of '!he R.ichmond Power Of '~t- ke Agr'ee-ment ,and Cowans was' contracted to EIJJPply the NlatnolrlJ,iilll Giir,l,d with iUlt3MW' ,of e~ectrh:'allPoWeif,. DO'wans insta'lledl,iJiI1di ~uUy. oolffllm'isSioned lEI .stat,e,-Qlf-, the~art 113,MW I~ow,er Plant Faciliity at: ill cose in excess af US~r 1001 mll'l,Uon. From, ]19 IiIIlJ rv 20101 IIJ ntill 3. fSl JllJ Iy 2'0018it' Co.wans gen erated ii!I nd su I'll Ilied m,u,oh ru;e.dedl p:0wiI!'r to '[h'E: N at[~,li'Ial~ G. rid.,

S-ee'lllg 1JJni3lt the ICC AW~lFd seams Inow to be [a pUibUrc document] .' .. ~, w~~~, take thl S (J,p'portunity ta rea,al '00 you what tine IC'C Trliibunra tho.ught of Do.wans' lP:Ei:noU'mancfh I lfii!~~r to Pa ra 9 U',ap'h 24,8, of the ICC A w-a rdl ,and 1 quote:

'It ts ill p'~a rE! nt '... bJ IPuit it: at its lowest", (Iti) i)W a ns) lost no tilr"llle 11111 IproglFeSsingl 'the pro~eet, m:nd ed, the (ICC) Tnbuncitl 'tl'nd's tt noth~ng h~$Is 'than Fiemijrkabrl'e, and a cause ~ior 'C:OI'i!'9 lia~u~atJ,on, th at. o Iii I "I ~I month or so Iitfte n' D ow,an s. had ~a,ken ave r tlI1e projectj' electlolty \'V,as. being SIlIP,p~~ed to Ufiri! national gr~el ~ .. I

~n'ow!3inSr achievremell1t :in tlhiis respect Wi:i5 1811111 the more implr'ieS5rlve !g~velil that .n ,Dar es S1611i1;am wals fllooded by ,fliM irmmenSl12 ra rufal~ll, causing s~gni'fka;l1I1t sliiffeW\lllI:g, 'Site A ,at U tJ ung,tj· we 5· loomp~e-telv w.ater-lo9.9~d a s ,:3 resu~t of floodi flg" .-}

I p:erso.na Uy gua ra III teed a furth er US$, 2QM flna nee Iii liIe 'f:~ I" ,l1)owa ns worlkin 91 ca ~ l'telJiI" Some ill~-in~'rli'm,ed rpelo,pire ha\l'e cr~ticlsed IOOIlN,8IllS ,cal'Ulilg Imy .compiany ifi :s1h€n cromrparny. ,I ch,aUenge those' p -op',te to show rne another sh'el_ CQli110arny whiCh rowns a U5,$ :lI. 091M [power- pll iii n I AllY ae:r;1 0 UJS bus~nessma n u ndersta nds rLh(il:t 1t5lhe use of a IS pe(ia I lIP urnose \l'lehic!I'i!~ 'rFci,r such projec "-5 is stalnd ~ r'rd intelinatl 0 'nail co m me r,oia II plr.ac;t,foe .• Amongl ~ther reasons 'for I.Hl1Mg 'sjpecial 1~lUr,mse \i'ehriCI~s, are: rillig fencing assets ,& I iarb11~'Ir:~es ,_ pmt'ectill1H~1 them rrom cOIllUiglo!lll 'a,nd fro Ii ta>ll: IPulrpos'es"

'Whill.e iln the process. setting Up-r 13 T~I:i'lz,anlan I(:Qmpany ,~,c oversee [l1i~ operaltlortJ, I rnl!OOre.dJ p eOrp:~e a ndl fa 01 I, - ~es on it:he '9 reu nd tihat we Fie lntricai e1ly eonv ~ rsa nit: wtth th T,anz;anialn lbusine-5s @IilVifO:jilment~ pr('J.(e£huo!s and p.~ctjr;:~s.. 'Nartu_ BIIiV 1 called en my F'li'iend Rostam A~~z tD asS'i'5.t me'. ]'n the Ilanguag·e off lbusiiilElSS "- hits ts known as a "hospitalitv ,i'll"rangemen'It"". I rel_,ed ilnjtJi'8UV on "n [emp~oyleEl of Caspianr lim U:.dl whol Immedr:ately therealfr!Ier handed ever to' pelrSDllIf1Iel r.etrUrit'e~ for the p·rQ~ect,

Th,@, Power rOf1i'_'ti.t '~._, , ,"glfeelnenl-liiIrd Dowa 1i1" IIlLrforma fti,ce

The k~y loorlclus on ,o'f ne Arbitlratllolfl Trlbuna,11 In the ICC award wals the 'oon'lfirn:u5'tion th·~t he Power on~' ake Agraemri3f"1't was valid ,fj d blrndrl'nrg on thr! parties. Anatlil,er ind;~pendent Alrlbrtra~ Tliintn,Jnal1 (lANE~iOO vs, RJDEVCO) alsor arrived art. the :same eruclal

(ndlng,

Dowarks~ lcontract with T.ANESCO was negotiaited at arm's ~engith. T1he cost. of Il:)eW,jir(i'iSi' E!:lectrlc1il1 f).O'we r was, ~ lir: ,ttl e earll" city p. rl i!:1!1 Iper k.W 'w',as ''lIhe Ilowest O'f ,- n,' ill1ld@pend'e-qt po'wer oontf.'a~t ~1iiI-1['alni8ni' I " s well as in East and C.e treal A;fr~ca. TAN'ESCO nes alwaV5 aocepted that DOWClIf1rSi' perf'brrnalm;e thlfollghout ~he ccntract reG.lmrpil~dr to tlhe letter of tnart COfrrtIiBct'.

I 'fu rtner qltmt':.e from 1J:1i1@ :~ c,e A,wa rd Pa rag,~a!ph 52'9:

'.n DTL Ilad fuUy pelITrormed rts obUg'atJionls under 'three I[power O~f=take Agree'memtJI in a rn nner whim ;,v,as (as ll'Af'llJIESCO]1 acc-e,pts) aboV1_ critic sm. . .. .'

lihi!il, val~,daltes ~lne Q'liJali'ty'nd effiCiency, ,o'r !the e~luapme'n: that, Cowans aCQuilfied girealy fir,o'm VrEUldors· eiltiheli new e'X .. faemf'll and~'or UnUlel!'" w',arranty. Dowar'lL!; . .:an bo'lt:lly'state . h,~tr bV int ma"-iom:;11I s:tandall'ids". lit Instailled the' best eQu~pmrent irvaillable.

To cenetuee my ecmrnants on Dowansoll exemplary pellformalnoo, I ~ul1'her quote from 'the lCC Awa r:dl ,Pa mglraptl 341. ,:

'~... th e [OQwa ns ,p~'ali1t hadl be@n ,ill Fe ~iable' effld tnt piant prev tUng 'TJ\J~4 ESCO wn.n m:ucLh ,needed pow,er to the liI,aUo,lIlal,g,nd".

I am Inform ed, iJild i nde,eejl gralti aed ~ Itha,t If-! is. Ex cel!llenc V. r the ~lfeside nt Jla kava Kliikwete re~el'i1'tly pllIbUc;1I'y ioknovlwged 'th~t ~he Dow,al1ll5 p(lwer gene,r,a' ion facJlity 9Jreat~v assisted m~s mation tn aUev.atl.ng the persiste:lilt power Ipr;obJlem.

P l1i:slmeIliiO.-y' S' I-ct Co I!!I'ilmli~t.e -,[

It IreS iilot my. inten:l!li'o.n 't!;) g'o ,~f1lt~) the details of' wlt,at ~rl1;)nspired in parU,Bment - l' leav.a' thlii!t 100 ethers. Dowa ns is, ,iI leg rt~mate~ II regia Uy. co nsti1tu ed compa n'V ~ c-ontrt.u;ted on a co,mm,erc!aI bas~5 at the iowe~1i' thafmla'~ ,l!lIrioe to l:ANES'CO, ro balill out th,e T;jJlrllzani,Clln n.at~o.· 'fo.llow'!n'Q ,a criIPpJ~n;g power iOiJltag€ in ,2006,.

,~, . ulrther ,q,uote fifo m ICC Awa ml Pair, gralph 529::

~As 5ulbseqlllent events had' dem~nstr,at,ed.!', DHSA, I DTL was an otg.al"!ltza't on ,of Si aUlc:Hng and 'Sulbstanoe in th,at it had ImkJan on ,a hligh~pfo.ime and lafg'e-,seale~ project ,a,nd progressed tlha,t IPfilljett e'ntilre~y sa!lllis'act~,rUfl em'plo:r,lng its OWI1 resources n tet'm5, 0._ rum~n~cei' eqllllpmte.IIl'[ ailldl m1cm,power, uilltn [l:A.NES'CO]. for its own reasons (wnlicn had nottlhilng to do. 'wltlh Dow - ns' I~erfofmancelif so:ughit 'to bnll19 t~e projet;t t,o an endi~'

Dowan:s [tSi proud CJir 'iits, ,condu-ct and pertorrnence 'h" ';an:zaitia.

'" :nd1er andl in,junethl)'_

As dir,~ct,edl bV flf ESt:O' ,In lune200!8,r. Dow-ans commenced the precess of dec.ommJssionilnlg the p~lant~ nue to the abFu,~;:rti'u~.ss af the' ldeoommissionlng d]irective, trn, dlid not have ill 5ultaible immedi3'be re~uiremernt 'for deplo¥ing the' Powe'r Pilant' 'wlth"fit the lEast African region" For ','hat rE!'ilII5:0n Dowans; deci'died tc]! advertise thte Power IP~a-;; t for sa,le;, As e'lCpected" the pubJiI: ad'!j/werti5Jeml'nt ,@t the !Offer or 5alle~ o·f ~he' I~ow'er Plant ,attraetJedl gre!~lt ,interest 'from ,miJljor p~ay'ers tn the Irrternationall powerm1ilrket; due' tal tlhe su,perl,QIi technf(a~ specifica~[on ,and low INlIilnifl91 hOUl1'S of 'the Power Piant.

SIJf)seql,!H2n~~Vt in ,cl!Jntradiction of the dil~tlve' to decolmlmissioln from site", TA_" 1!'5CO, ,ag'ilin withal.:! notlce to Dowans. .. lobtah':u~d an l~x-parte res ra1n[lrng o[i'",der, ,eff:ective~y IPl"e1Ien'tng Dowans lTo,m pooCieedling wrthl ttH~ dectimmis!lloln~'fbg af' tts p~an' that

Pa!YlIIlen.·· I

Des'pile 'this: exemplary performance, TANESOO's ipavmefil'ts f\or power' 6lupph'edl were, no ~QrthcG)mjl11g and 'wihi!l."ie made, signililcantly del,njed. '~' quote aga,iil"ll froml !l:tu~ JuC ,Award P,aJiaglr-ap.n 315 where'ln ithe: 'Tribunal 'was sho~ked ~hat;

"on ;2'5 Ma['lch 100S~ .... payments t:otall,lllI1lg US$ 25M ..• Irelilialill1edl DLlltsltillnc:Hng' ... and de'ay.s, in Ipalyment had reBult,ed lin IDowans! ope,ji'aCllons be,inQ severely OQlI'lstra~lI'1ied.~'

Dispw'te

On 30 June 20081 TANE$:CO'", w~thol\Jt notice cr dlSClUssicHl1 dilf~cted lO'o.w,ens. ,to de.co,mmlisslon its p~ant. lhhs, dif,sctive w,as made' wftho:ut tilear reason and W.thO.oft any criilt)l'clsm o.f Dowans~ ctmdluct or pEMfofimance. Dowans ~oo:lk ijIPPfOIP,ria',e. ~egal ,ad!v,ice alnd~, as, prO\'I['d,ed under the' centract, Irodged Iits request fbr Arb!l',raUofl w~th ~he ,mntemai{llon8l~1 Chamber ot',C.o'mmen:e i'n Pans 'for 11!li",each of contract by l'ANIESCO.

a.OlliiiOnl inevitably mcreased tne damages that: Dowans suffe:red, The Court ~ljidef~ w h~oh wa 5, m~fd'e so beliV CHii the ev! dence o,'f 'TAN E'SCO ~ w,as chaillengloo in tn e a pp r!t!ljp il'larte walY.

ICC ,Arbirt,F8ti,g,n

MOi$t Gomlnn,~rt'i-al oontracts between 'GO'Viernment Min~.5tJries, ,and Parastatals, such as TANIE;S,(;Oj illiJ{I irrrternatJional nvestors provide that ~llspute5 an"ig~ng CHJI't of contracts sha U be resolved thro:ugh ,an intE!'finiiiltiona ,arb fr ralUon t li bu nal, Thiis 115 est, bllisnedl Itn usfness pre ~tiQe tha't has devellQ~ed oveir th,e I ast century ,of jliTltemationa I corn meres. 'The' ln1terlllatito lI1al Co III rt of Ai!iibitr~Uo n of tn'e ~ ntern ~~r (3 rUiil Cha mbe r' of 'Go,m meree' is one o.f [h e ,0 I d est, a Adl m ~st recoil) I'll Ized arbitlrat'~o n i nstttutlen s i If! the w'Of~d.

Und'8r thee ICC rules~, CC a,~, ards are deemoo to be '~na! , nd bl1nd'lng. Tthe IreastJilftiing beh iliad th~s pri fO(lple us UI,~t It e!,fli s uras 'f! rnal~ commerdal ee rta int,v f.{U 1ttMe pa !ties to ,anv d lsp ute,. [Ill a ddlttoll1 ro this r- botlM IANI ESCrOI and D o,w,a ns sp etific~~ly aglJ'ie!.~d loy contre a tG) wClliVle a nv p o5s,lble right of a ppea I. 'ThE!!: ICC: I(lW,a rd is '!final I and bi ndiin9 on DOW,allns a 1!1 d j,ANIES OCl

ICC ,A'Willfid

The Arbitration l'rllbL!na~ oif the tnt'e'rfhltionai Chamber 0" Commerce r~,()C1 ,[ntel"ina,tionall CoIUrt olf AJlFbttrar'iion ideUvl red! Ilts· aWBi:O dealilflQ wi h the Issues, between T:AN IE:S'C:O' (BInd D,Qw,a rilS dated :1 s;th NOv,e[mi[,1i!f :20,1.101., Yo u 51'!! tHJ. lid note that Dowa 11<5, was nQt aW\flllrd,edi the Ifulll arne u nt that I[ clali Iil1I eel i f1I tlh'i! AFbi'l!i!'atioR. !D@wafilS ts beu n ~ IC¥ tine awbltfat~Oll1 dause fn tJheg!l'1eemenit w~th T:ArN[E~:H:'Q ·iJlliid I !hIUS [Cowans con~ed,es

halt", as a cgnse~uence of the ,~,cc aWilrO, tlhe prevlouslV ol.ltstandilng disputes wfth [ AN IES CO were UIIE~[n resolved,

Hlow 1I:2i11il1 ~lU'iM/0rbe: suggl!st. ~h,at com pensaltlon based 0 JI1 a 4.9'9 c price is 'contralry to Pulb~ic Interest whren alii he etner IPPs costs ,are s:gnifltca:lFitfy in ,ex Cess. of th~s . ,mouiIilt?

The GoV'e:rllmen1E st.a~es that [itts plJlbl'ic polic't is to em:ouragle pr;llVa'te illv@'s~ment. I ,am (j,eeply co ncerne d flO r th e fu'tl.!! re of' ~l;lU!~ ~gJlI c:J irect !nvestme rat lin i,~n:ll:l UI ia should fanzaB1~a seek 'to' h:;J)nolre' cr reject a b~nd·ng[ ICC AWaJrd. W',e are no, (H1IkiP.1 ,Ilooking at f,uturie (ontracts here: by li\i"@j!ctlng . -n U:C Award, 'Tanzania is [In ,effect ftpplngl up every Intem'irtlornai irJlt-,estment aglli',ee[menit in e)l;i$:~ence In T,'lnzanna today~

OcnN~lns rlIOW expects 'l:A~ [ES C-o t(! [hon eN.!! r its obU g;a1Dlo ns un der ttl €' awa n::I wit)nQllIl Idelary.,

You sJUJu[ld note tnat us: 241M: ,of UH~ ,aw,aF1d is f'of" IplOwer supp'l:ied to TAJNESOO ".fitOIF to bermination. TANIESCIO has supplh~d [lin S !lowe[J:' to its Gustomers ,and eeen paJd by ~ts loustome:f'S" TAIN ESCO ill" d Gcv\ern i1i'1E! nt iharVle aff~rm eel en seve ra I eeea s Ions t'hslt ss rviCE!' rendered by' Dowans plilor to! t,ewmlinat~on is not in di$pu~ e, TANESCO and the Mi[n:istry of Energv and Milneralls approvred a[nd ce'rti iled th,e re'~evant ~Ji1~oiioes all1d passed them '[@ 'the Min !it!)' ~' FlrJitHiiOO rOlf payment i~ 200S:.

~!i1sider·n\g the a,bOrv~~ 'thiSi 115 money diU€: 00 DoW'ans,

"'Ifill! futurl

!Upon fe~8 pt of th,e A,waliid[" DOW,a![ns wr~~e to TANESCO and GQverrl11melilt :se. [king to engalg,e in dliscussion ,and clonslderat~on 10f avail8Jb~e epttons, IDcnvans is, yet to reoeive a, response.

MV a8SUranCe: ~S: 'that Dlowans". Iff alPpro:aoliled mr SUCh rdics.cussion, wiU aS515 ; wb~re' possible to ease It:he Illu rde III iOcr th e . Aw.ard! ,0 n T,AN ESCO. Witt. '9 Clod iin entions ~nd illl the splr~tr of Imicahle resoill,iIt::UOiil~ ~'t 5 my sincfre hope that TA:: ESCO, the GO'fJem'"'tent a nd th,e pee pl,e of the Unijted RepubUrc of Tca IilliillHlia will I.sten to u 5, so th iiirt we ca n

'together see how we cain w,crrk. to ~111@\i'lal e ~e.ur~ent electno1ty crisis. .

'C'~fI,ch~S~QIiI-

:$ubsequefrl1z: to the. award" key facts Na~laltjng 'Ito 'the Power OffataJke Ag~eement and t:Jhe s:ubseqlJJen' dispute betw,een TAINE.5C,IO and Dowans continue to be m s-U'lep(jJrtedJ in the Tanzani'B m'edlla.

Con'siderirngl Do'Wafls'~ prope ,conduct rif It he' If'owell' Off-take Agrr«eITHal'1lt 1: J~n1 h~gh~y. d~ssatlsfled by the wal)!' Do.walns. has. been tfi!!ate,d. FUftlitelf considering, 'th,e magvnftJlJde of ,cur ~nvestm@jntj' al1,.egatJolf'irs, that Dlowan~ j!ii anythingl o.M1er ~hii!Hl raj ,priFlic~pilled :se'r~oYls, mlve5tQf' are both mj'slc' adill1g and ma:~ici!)us..

:~ am marking this: statemlen't in ,u·d~r rto correct tlhe high' ~evel lof tneceurate rreportJng ,ellnd con.'ffirentalrry !l!ha,t has occurred In Irecent wee'ks,. As matters between l'A,rNJESCO and Dctrw,ans are now reso.lV'E!d by. ltlhe ICC aIWitU,d!" we :e)(pect tJnat [)owaAs, be ac-cur,a-tely and lif,espeotfulllV reported 'I'n he natJlofi'ta~ media" Any' dlsbuitJClfJ1 ,of mls,,~nrofm'~tJitOllJ sha~i Ibe dea~t tlhnn!lglh legal charnrrl.e~s.

Si' .nedl

IBrlgadi 'Ii' G.ene.r-alll 1'~td)1 S-- __ ,~-_ -_ IMiollit,amNed Y<abJlil A~ Ad wii Dow_ ns, HoJdi,Rg:_ SA

lS9ue-cl; 20 fe.bnllary 20:i 1