Africa Investor Magazine Honours Ajala

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Ajala Travel Company 2010

13th February 2010

For Immediate ReleaseFor more information contact

Ajala Work SpaceP.O Box 52259

Falomo IkoyiLagos NIGERIA

Email [email protected] - +2348037080031

Africa Investor Magazine recognises AjalaChosen as part of annual list of the 10 most promising bankable Tourism Projects in Africa in 2010

Africa Investor Magazine, organizers of the 2010 Africa Investor Tourism Summit havejust announced its annual list of the 10 most promising bankable Tourism Projects inAfrica and Ajala has been chosen! Needless to say, were extremely honored to berecognized by one of the most accomplished publications in the Africa. And the list is

very impressive: Were up there with giants such as Southern Sun Ikoyi and Retosa butalso newer tourism projects such as the Bettsbridge Tourism Projects. The recognitionearned Ajala an opportunity to present its proposal for the Ajala Voyager TravelChannel to African Investors at the 2010 Africa Investor Tourism Summit. Investorspresent at the event include Actis, IFC and the South African development financer IDC.

In a letter from Hubert Danso the Vice President of Africa Investor dated 19th ofFebruary 2010:


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AjalaTM

Travel Company:Media |Tour Operations| Intellectual Property

Media:TV | Print | Web

Tour Operations:Retail | Online | Mail order | Teleshopping

Intellectual Property:Merchandising | Licensing| Tourism Industry Advisory

AjalaTM

is set to become one of the most recognized and popular travel and tourism consumer brands in the Nigerian market. The Ajala Travel

Company is a brand driven travel and tourism related media and Lifestyle Company that markets the jl brand through a range of media

properties and licensing initiatives. In the summer of 2011 we will launch Ajala TV a premium thematic travel and tourism related Pay-TV

channel for the African market and also create content for distribution via television networks, print, websites, mobile platforms and radio.

Through licensing agreements, the jl brand will appear on a wide range of travel and tourism related consumer products as well as on jl

retail packaged tour stores and other tourism related services. The Company's three business units are Tour Operations, Media and

Intellectual Property. The Ajala is currently a partnership registered with the Corporate Affairs Commission of the Federal Republic of Nigeriawith registration number OG3323. Ajala Workspace P.O Box 52259 Falomo Ikoyi Lagos NIGERIA. www.ajala.biz

On behalf of Africa Investor, we would like to say thank you for your part in making theSummit a great success

The Africa investor (Ai) Tourism Investor Summit and Awards were created toshowcase Africas opportunities and achievements in the tourism sector to the rest ofthe world, collectively raise awareness about Africa as a tourism destination and rewardthose groups developing the African tourism industry as a vehicle to drive sustainableeconomic growth.

The 2010 Africa Investor Tourism Summit and Awards is endorsed by the NEPADBusiness Group and supported by CNN International.

Pictures from the 2010 Africa Investor Summit. In Pictures: Dr Adedayo Osholowu Founder of Ajala with Minister of

International Relations of Zimbabwe sitting in the project pitch panel( 2) Dr Adedayo Osholowu presents his vision for

the Ajala Travel Channel to investors at the Africa Investor Tourism Summit. (3) Dr Adedayo Osholowu shaking

hands with Mr. Ernest Oji Project Managing Director of the Southern Sun Ikoyi Hotels Nigeria following the project

pitch panel.


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About Ajl

Ajala is set to become one of the most recognized and popular travel and tourismconsumer brands in Africa. jl is a brand driven travel and tourism related media andlifestyle Company that markets the jl brand through a range of media properties andlicensing initiatives. In the summer of 2011, we will launch Ajala TV, a premium thematictravel and tourism related Pay-TV channel for the African market and also createcontent for distribution via television networks, print, websites, mobile platforms andradio. Through licensing agreements, the jl brand will appear on a wide range oftravel and tourism related consumer products as well as on jl retail "packaged tour"stores and other tourism related services. The Company's three business units are TourOperations, Media and Intellectual Property. Ajala was recognized in February 2010 asone of the 10 most promising tourism projects in Africa by Africa Investor Magazine. InOctober 2010 DISCOP Africa's largest television industry event selected Ajala TV asone of the key Nigerian broadcasters in one of the most vibrant media markets in Africa.In line with jl's enterprise growth strategy to build a media franchise. The companytoday in Feburary 2011 announced a first-of-its-kind strategic content partnership withHiTV, Nigeria's leading indigenous DTH service provider, to offer a linear branded blockcalled Voyager. Voyager is a thematic travel channel devoted to Travel shows, TravelDocumentaries, Travel related movies, tours of grand hotels, and visits to significantcities and towns all of which are geared towards inspiring the "arm chair traveller".

This press release contains forward-looking statements, which are based upon the current expectationsof the Company. Because these forward-looking statements are inherently subject to risks anduncertainties, there are a number of factors that could cause the Companys plans, actions and actualresults to differ materially. Among these factors are the Companys ability to: profitably launch itstelevision venture on a timely and cost-effective basis, to successfully move its start up operation to theRepublic of South Africa; execute plans to exit its close or sell its tour operations business in Nigeria andreduce costs; achieve profitable operations; raise new capital and increase its borrowing at acceptablecosts; manage changes in customers forecasted requirements for the Companys products; continueinvesting in research and market development; profitably launch its merchandising business; and

penetrate existing, identified and emerging markets. The timing and occurrence (or non-occurrence) oftransactions and events that determine the future effect of these factors on the Company, as well as other


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factors, may be beyond the control of the Company. The Company undertakes no obligation to updateany forward-looking statement to reflect events or circumstances after the date of this press release.

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Africa Investor Magazine Honours Ajala