The Gray Ghost Fund Appoints First Independent Member to the Investment Committee.Atlanta, GA, November 3, 2006 —
Mr. FitzHerbert is the Founder and CEO of Arbutus Energy and an active investor in microfinance. He currently serves as Deputy Chairman of the Investment Committee for The Deutsche Bank Global Microfinance Commercial Consortium Investment Committee and as a Director of Accion Investments Limited is an observer to the Investment Committee of the Bellwether Fund. Prior to starting Arbutus Energy, FitzHerbert started and founded tow other companies in the renewable energy filed which he managed and successfully sold. Previously he had held senior positions with Hambros Bank where he served as Fund Manager in London and in Hong Kong and Director and Chief Representative for the bank’s operations in Japan. “We are pleased to have David on board”, commented Paul DiLeo, Chief Executive Officer of the Gray Ghost Fund. “We believe that he brings to the team invaluable international investment experience and a shared passion for microfinance which add depth and rigor to our investment process.” An entrepreneur and industry mobilizer, FitzHerbert has since 1989 been a prime mover in the UK renewable energy industry and key in bringing together players in the renewables sector to form trade associations aimed at further advancing the industry. The Gray Ghost Investment Committee is responsible for approval of all investment and divestment proposals submitted by the management team, and for periodic reviews of portfolio performance.It has broad discretionary authority over the investments of the Fund and oversees the activities of the Investment Manager who is responsible for investment analysis and oversight. # # # ABOUT THE GRAY GHOST FUNDThe Gray Ghost Microfinance Fund, Inc, is a $75-million, for-profit portfolio of investments aimed at connecting private social investors with microfinance opportunities worldwide. As a fund of funds, Gray Ghost hopes to educate the investment community about the dual benefits of microfinance investing as both a means of growing individual wealth and alleviating poverty. The Gray Ghost Microfinance Fund is committed to enriching lives, both financially and spiritually, on both sides of the investment relationship. For more information on the Gray Ghost Microfinance Fund and its work, visit www.grayghostfund.com. MEDIA CONTACTYvonne Johanneson-Jones
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