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Chrome Group to Seek Listing for Some of its Subsidiaries
Date:8/20/2007

ABUJA, August 20 /PRNewswire/ -- The Chrome Group today announced its plans to seek a listing of at least two of its companies on trading platforms in Europe and the Middle East. In a statement released in Abuja today, the Group Chief Communications Officer, Mr. Val Oji said that "this was part of a comprehensive growth strategy which Chrome Group was implementing over the next two years. Chrome recently signed a Memorandum of Understanding with Petrobras Petroleo Brasileiro S/A, Dedini Industries de Base S/A, Sugarsoft - G Rossi, Rhodia Energy (Brasil) Limited and UNICA, and NNPC on a joint venture for the exploitation of ethanol.

Prior to the commencement of the project, the consortium had secured over 50, 000 hectares of land in Katsina Ala/Benue River Basin for bio-ethanol production. It has also commenced feasibility studies on sugarcane and ethanol production. Our vision in this sub-sector is to be a dominant producer of fuel ethanol for use both in the domestic and international markets. This vision is predicated on increasing demand and rising prices of petroleum-based energy, rising demand for cleaner, alternate fuels and availability of large endowments of arable land, water resources and labour in Nigeria."

Mr Oji stated that the Executive Vice Chairman of Chrome Group, Sir Emeka Offor, had recently given up his seat on the board of an American public company, ERHC Energy Incorporated (OTC BB: ERHC) so as to concentrate fully on driving the implementation of Chrome Group's plans.

In a statement on his resignation from ERHC, Sir Offor noted that his devotion to ERHC, albeit as non-executive director and chairman over the past few years had come at a cost to his other businesses. The full text of Sir Emeka Offor's statement on his resignation from ERHC reads:

"In February 2001, a company that I owned acquired a controlling interest in ERHC and I became a non-executive director and chairman of the reconstituted board. At that t
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SOURCE Chrome Group

Copyright©2007 PR Newswire.

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