Morocco’s Annual Investment Conference 2009

Participants

ABC International Bank Faisal Alshowaikh ABC International Bank Fadila Amri ABC International Bank Andrea Pankhurst Abraaj Capital Smiyet Belrhiti Abraaj Capital (Cairo) Yaser Gamali Abu Dhabi Investment Authority Ahmed Al Dhaheri Abu Dhabi Investment Authority Ahmed Almutawa Actis Meriem Smida Advance Emerging Capital Limited Slim Feriani Aerium Finance Limited Daniel Bendavid Aerium Finance Limited Franck Ruimy Ajensa Alistair Emery Al Farida Investment Company Peter Gray AL QUANTARA CONSEILS Susan Ouaknine Al-Futtaim Group Marwan Shehadeh Algebra Capital Ltd. Rayan Salam Allen & Overy LLP Kamal Rhazali Allied Solwin Lal Uttam Alstom Power Osama Lotfi Arab British Holding Group Younes El Ghazi Armajaro Securities Sofiane Megharbi Mohamed Chami Aureos Advisers Limited Bishakha Mukherjee Barclays Capital Abdeslam Alaoui Barclays Capital Cyrus Ardalan Barclays Capital Miloud Boudjemai Barclays Capital Idriss Machichi Barclays Capital Adnane Zerhouni Barclays Wealth John Senouf BDO JIWAR Zakaria Fahim Beetle Capital Partners Gareth Hughes Bellevue Asset Management AG Malek Bou-Diab Beltone Financial Sara Hamdy Benisha Group Roger Shashoua Black&Veatch Jim Wilson Blakeney Management James Hancocks Blakeney Management Karim Jetha BMB Islamic Zaineb Sefiani

BMCE Capital Bourse Khalid Nasr BMCE Capital Bourse Benkirane Youssef BNP Paribas Paul Johnson BNP Paribas Paul Chivers BNP Paribas Christopher Marks BNP Paribas Alexandra Skeggs BNP-Parisbas Ignacio Aguillo BNP-Parisbas UK Mehdi Ayari BNP-Parisbas UK Amine Bel Hadj Soulami BNP-Parisbas UK Mireille Nassif Bombardier Aerospace Shorts Stephen Cowan British Arab Michael Parr British Gaz Carlos Quintana British-American Tobacco Benoit Belhomme British-American Tobacco Ivan Gomez Brunswick Group LLP Rurik Ingram BT Global Services Abdellah Deguig Caithness Petroleum Jacqueline Forbes Caithness Petroleum Limited Robert Kennedy CALYON Anass Joundy Calyon Credit Agricole Jean Luc Eymery Cambridge Int.Colege Amina Wakefield Canamens Energy AS John Pickard Chartered Institute for Securities & Investment Helena Green Chartered Institute for Securities & Investment Lydia Tapping Chatham House Claire Spencer CI Capital Holding Karim Helal Circle Oil PLC Stuart Harker City North Mike Cope City North Leslie Hounsome City North Stephen Mallett City North Ltd Steven Shergold Clifford Chance Mustapha Mourahib Climate Change Capital Kostas Nikolopoulos Climate Change Capital Edmond Sassine Codexpro Philippe Klein Commerzbank Chawki Chouaibi CommunityWaste Philip Serfaty Consilium Capital Limited David Pollock Consultancy Support Ltd Bill Wilkinson Credit Suisse Oualid Lahsini Dana Petroleum (E&P) Limited Robert Booth Deutsche Bank Stéphane Boujnah Deutsche Bank Stéphane Boujnah Deutsche Bank Brett Olsher Development Partners International Omar Kotb

Discover Ltd. Chris McHugo DLA Piper llp Miriam Gonzalez DnB NOR Bank Omar Sekkat ECU Group Marco Musciacco El Sewedy Electric Emad Riad Emerald Energy plc Angus MacAskill Ernst & Young LLP Zeeshan Ashraf ESO Capital UK Ltd Driss Benkirane Eversheds Martin Issitt Exane BNP Paribas Youssef Benhaddouch Experian Maroc Jamal Rahal Foreshore Global Capital Boe Pahari Foreshore Global Capital Adam Ringer Former British Ambassador to Haydon Warren - Gash Foster + Partners Zak Ayah FS Elliott UK Ltd Will Collett GB Petroleum Plc Mike Hassell GDF Suez Raphael Barreau GDF Suez Mahinder Nath GE Capital Hicham ER RAFASS GlaxoSmithKline Anjali A. Radcliffe GLG Partners Driss Ben Brahim Goldman Sachs Hakim Cherrouk Goldman Sachs Halil Emecen Goldman Sachs Amine Jalal Goldman Sachs Zaïd Khaldi Goldman Sachs Laurent Lalou Goldman Sachs Omar Palmieri Goldman Sachs Jean Raby Goldman Sachs International Brahim Guessous Goldman Sachs International Yoël Zaoui Groundhog David Hornsby Halcrow Group Ltd Selma Hooley Halcrow Group Ltd Peter Roome House of Lords Baroness Symons HSBC Michael Hodges HSBC Ihsen KHELEF HSBC Bank Yusuf Macun IFSL Terry Stone IFSL International London Wayne Evans IFSL International Financial Services London Stephen Wright Intelligent Partnership Guy Tolhurst International Centre of Financial Regulation Nicole Hergarten International Power PLC Philip Cox Intesa Sanpaolo S.p.A. Alberto Castelli Island Oil & Gas PLC Paul Griffiths J.P. Morgan Safae Damir

J.P. Morgan Asset Management Anis Lahlou J.P.Morgan Ghali Laraki Jasper Capital Jason Peers Jiskoot Paul Bagnall JP Morgan Omar El Glaoui JP Morgan Houda Zinoun KGB&Co Patricia Kapferer Kingdom Zephyr Saad Aouad Kingdom Zephyr Sofiane Lahmar KKR (Dubai) Makram Azar la Caixa Ignacio Álvarez-Rendueles la Caixa O O´Loghlen

Lazard Frères Matthieu Bucaille Lazard Frères Michele Lamarche Legend Press Paperbooks Publishing Tom Chalmers Libertas Partners LLP Matthew Hindhaugh Lloyds Matthew Chandler Logica Jaoued Ahmed Logica Justin Hastings Lombard Odier Asset Management Aziz Nahas London Stock Exchange Ibukun Adebayo Longreach Oil & Gas ventures Limited Andrew Benitz Longreach Oil & Gas ventures Limited Bryan Benitz Louis Capital Market Patrice Cohen Louis Capital Market Mouna Hajji El Azizi Macfarlanes LLP Charles Martin Macfarlanes LLP Edward Reed Maghreb Consulting Ltd Andrew Mortimer Marks and Spencer PLC Nick John Marks and Spencer PLC Jon Knight Marriott International Nawfal Bendefa Masefield Justus Van Der Spuy Mazars Najwa El Iraki Medi1sat Mustapha Mellouk Mediajet Jalil Nekmouche Medicapital Yassine Benjelloun Medicapital Hicham Britel Medicapital Hicham Safir Medicapital Bank plc Eric Aouani Medicapitalbank Mohammed Bircharef Mediobanca Maria Luisa Cicognani MENA Capital Khaled Abdel Majeed Merrill Lynch International Hakim Drissi Kaitouni Michael Page Boualem Kadi Michael Page Africa Paul Mercier

Mitsui & Co. Europe Takashi Kitahara Mitsui & Co. Salah Eddine Acaachi Mitsui & Co. France Akihiko Yoshizumi MND Exploration and production limited John Daniel Monitor Rodrigo Guzman Monitor David Maggs Monitor Group Michael Standing Morgan Stanley Jean Abergel Morgan Stanley Mehdi Cherif Morgan Stanley Marc Mourre Morgan Stanley Abderrahmane Charif-Chefchaouni Morgan Stanley Franck Petitgas Mott MacDonald John Hughes NAC Finance Mehdi Ksikes New Amsterdam Capital Richard Lee Nomura Asset Management U.K. Limited Toshihiko Matsunaga Nomura Asset Management U.K. Limited Ken Tooze Nomura Asset Management U.K. Limited Tamon Watanabe Nomura International plc Tarik El Mejjad Nomura International plc Meryem Yacoubi-Soussane Nomura International plc Alex Dufer North Africa Holding Company Emad Al-Saleh North Africa Holding Company Gianmauro Chiaranda Norton Rose Jeffery Barratt NUR Energie Pietrojan Gilardini NUR Energie Emma Haight Nuvia International Will Phythian Official Photographer Jon Bradley Orascom Telecom Khaled Ismail Oxford University Michael Willis Passport Capital Ltd Léa Chaftari Passport Capital Ltd Florence Eid Pictet Asset Management Oliver Bell Pöyry Energy Consulting Matt Brown Pöyry Energy Consulting Jade Touzni Prince's Club Holdings Ltd Ashley Lloyd-Jennings Prince's Club Holdings Ltd John Yeend Privilege Yacht International Limited Alf Agius RBS Samir Atassi Renew John Wishney Richard Faulkner Architects Richard Faulkner Robinson McColl Ltd Oliver Harris Robinson McColl Ltd Alister Robinson Zouiten Abderrafia Royal Bank of Scotland Omar Zane Royal Bank of Scotland plc. Zineb Ayouch

Royal United Services Institute for Defence and Alastair Cameron Security Studies San Leon Energy Plc. Oisin Fanning Santander José Rojo SBM - CASTEL Jean-Marie Grobbois Serica Energy plc Paul Ellis Shell International Limited Sean Melbourne Silicon CPV Plc Latifa Hamdan Silicon CPV Plc Humayun Mughal Silk Invest Ltd. Zin Bekkali Silk Invest Ltd. Daniel Broby Silk Invest Ltd. Abdeltif Stitou Sinclair Leask Graham Leask SMBC Europe Limited Lorena Ciciriello SMBC Europe Limited Charlotte Olewniczak Société Générale Zeina Bignier Société Générale Pierre Damamme Spinnaker Capital Ltd Aziz Francis Squire, Sanders & Dempsey Daniel Larkin SSI Kim-Fredrik Schneider STM Group Gibraltar Timothey Revill Sumitomo Mitsui Banking Corporation Europe Sami Neffati Suncor Chris Brown Swicorp (Tunisia) Elyes Bahri Systonomy Limited Radouane Oudrhiri Systonomy Limited Fabrizio Pellizzetti Tactical Global Management (UK) Limited Hicham Najem Tessera Solar International Trevor Nash The Bank of Tokyo-Mitsubishi UFJ, Ltd Taehiko Senda The Association Natasha Mann The Middle East Association Michael Thomas The National Commercial Bank A. Daim Al Ahmadi The Prince's Club James Bailey Tricom Group Paola Livadiotti Trowers & Hamlins Martin Amison Tullow Oil plc Angus McCoss Tullowoil Douglas Field UK Trade & Investment Kate Roye UK Trade & Investment Lisa Weedon United Insurance Brokers Limited Mounir Kabban United Insurance Brokers Limited Amine Oudghiri White & Case LLP Emna Blili White & Case LLP Glen Ireland Wilton Petroleum Younes Maamar Wilton Petroleum Ian Williams Zephir Africa Nouzha Lahrizi

Nadia Abouayoub Sharjil Ahmed Sydney S ASSOR Ibtisam Auchi Francis Beddington Cedric Boghanim Massimo Cesellini David Chaali Francesco Guarneri Elena Guarneri Foulath Hadid Mark Hardinge Hanane Joukhadar Cathy Lyndon Alaa Oumansour Jonathan Reuvid Laurent Souviron Pablo Vergara Michael Zaoui

Moroccan Delegation

Aerospace Companies Association Benbrahim Andaloussi Hamid AFEM Badraoui Idrissi Soraya Agro business Federation FENAGRI Berrada Sounni Amine Akwa Pole Gaz Idrissi Kaitouni Rachid Ambassador at large Berdugo Serge AMDI (Moroccan Investment Promotion Agency) Sijilmassi Fathallah Morocco Kamal Bensouda Attijariwafa Bank Kettani Mohammed August & Debouzy Nassrollah Kamal Bank Al Maghrib El Aynaoui Karim Banque Centrale Populaire Benchaaboun Mohammed Banque Populaire Rachida Bennis Banque Populaire Bennis Rachida BMCE Bank Ayad Jelloul Capital consulting Chebihi Hicham Capital Trust Boutaleb Lamia Stock Exchange Hajji Karim Cash One Freidji Nabila CDG Laâraïchi Khalid CDG Alami Anas Center for renewable Energies Development Mouline Said CGEM Marrakchi Hakim CGEM Alami Lazraq CGEM Tamer Mohamed CGEM Horani Mohammed Chamber of Commerce Ilham Bennis CICALIM Alaoui Youssef Crédit Agricole Sijilmassi Tariq DELASSUS Kacem Smires Bennani DELASSUS Bennani Smires Kacem Department of Electricity and renewable Energies El Aoufir Said Ministry of Energy, Mining, Water and Environment Directeur Général en charge de la Banque des marocains du El Basri Hassan Hassan monde Eaux Minérales Oulmès Bensalah Cheqroun Meryem Embassy of the Kingdom of Morocco, London Larbi Bouattaf Embassy of the Kingdom of Morocco, London Jamal Chouaibi Embassy of the Kingdom of Morocco, London Reza Esfandiari Embassy of the Kingdom of Morocco, London Moulay Idrissi I Embassy of the Kingdom of Morocco, London Bouthaina Kerdoudi Embassy of the Kingdom of Morocco, London Mohamed Oualid Said Embassy of the Kingdom of Morocco, London Ismail Oudghiri, Consellor Embassy of the Kingdom of Morocco, London Mohaiddine Rabii Embassy of the Kingdom of Morocco, London Larbi Rmiki External Finances and Treasury Department Chorfi Zohair

Federation of Banking and Financial Sectors Hayat Nezha FIPAR Holding Group CDG Ziane Khalid GPBM Douiri Ismail GPBM Douiri Ismail Groupement des Industriels Marocains Aéronautique et Hamid Andaloussi Benbrahim Spacial Holding Safari-Sofipar-Cofimar Lamrani Saida JLEC Iraqui Majid Lafarge Maroc Benzakour Hakim Locamed services Iraqui Houssaini Bouthayna Maroc Export Saad Benabdellah Maroc Export Benabdellah Saad Ahizoune Abdeslam Médi 1 sat Mustapha Mellouk Méditel Telecom El Mandjra Mohammed Minister of Energy, Mining, Water and Environment AMINA Benkhadra Minister of Finance and Economy SALAHEDDINE Mezzouar Minister of Industry, Trade and Information Technology AHMED REDA Chami

Ministry of Economy and Finances Hamri Jawad Ministry of Energy, Mining, Water and Environment El Hafidi Abderrahim Ministry of Energy, Mining, Water and Environment Rachid Firadi Moroccan Agency of Investments Development Sijilmassi Idrissi Safae Naciri & Associés - Gide Loyrette Nouel Naciri Hicham Naciri & Associés - Gide Loyrette Nouel Naciri Hicham Holding Nakkouch Ahmed National Society of Investment Lamrani Mohamed ODB Jiwar Zakariya Fahim ODB Jiwar Fahim Zakariya ONA Bouifrouri Adil ONE- ONEP Fassi Fihri Ali ONHYM Wafae Benhammou ONHYM Benhammou Wafae Phosphates National Office Terrab Mostapha Royal air Maroc Zouiten Abderrafih SAMIR Baamer Jamal Samir Mohamed Ghayate Shell Rihani Mohammed Sherpa Associates Inc. Slimi Rachid SMAEX Lahrichi Nezha SOMACA Belarbi Larbi Somaca Larbi Belarbi SOMED Tarafa Marwane Southern Provincies Development Agency Hajji Ahmed Free Zone Mikou Jamal Tangier Med Special Agency El Hadi Said The Minister of Foreign Affairs and Cooperation Taib Fassi-Fihri

Press

2M Abdellah Inassi 2M Abdelfattah Moumen Actuel Magazine Henri Loizeau Africa Confidential Patrick Smith African Banker Anver Versi African Business Marie Elisee Amine Belmajdoub Al Aoula Rachid Chafai Al Aoula Samir Ghazi Al Aoula Aziz Khaldi Al Masae Youssef Jajili Aljazeera Satellite Channel Mina Harballou Aljazeera Satellite Channel Fernando Moreno Arab Banker Association Sajid Rizvi Arab Banking Fadila Amri Arabia TV Nicolas Hameon Arabia TV Ozgur Kizilates Arabia TV Mostapha Zarou Asharq Al Awssat Hatim Bettioui Abdelouahed Kansaoui Aujourd'hui le Maroc Atika Haimoud BBC Tracey Langford BBC Juliana Liu BBC World Service Richard Hearing BBC World Service James Melik Bloomberg Michael Patterson Business Monitor Julie Richards Challenge Salwa Mansouri Dow Jones Newswires Clare Connaghan Dow Jones Newswires Benoit Faucon Dow Jones Newswires James Herron Economie et Entreprise Hayat Gherbaoui Euromoney Dominic O’Neill Global Arab Network Ghassan Ibrahim l’Economiste Jon Marks Fahd Yata La vie économique Khalid Bazid La vie économique Bazid Khalid Wadie Al Mouden L'Economiste Vanessa Pellegrin l'Economiste Amin Rboub MAP (Londres) Abdelghani Ouifia Médi 1 sat Ikram Benchrif Médi 1 sat Mostapha Grihma

Official Photographer Jon Bradley OL consulting Laila Ouachi Atlantique Loubna Moussali Reuters Carolyn Cohn Reuters Emma Farge Reuters Chris Hogan Reuters Darcy Lambton Telecom Markets Mohammed Hamza The Banker Philip Church The Banker Charlie Corbett This is Africa, Financial Times Peter Guest