Acumen Fund Initiative Will Develop 'Entrepreneurial Bench' in Fight against Global Poverty; Inaugural Fellows Class Selected From Global Applicant Pool Will Bring Private Sector Solutions to Developing World.

NEW YORK -- Acumen Fund, a leading innovator in the creation of sustainable, scalable solutions addressing poverty in the developing world, announced the inaugural class of Acumen Fund Fellows today in New York City. After an intensive three-month selection process that spanned the globe and drew hundreds of applicants from over fifty countries, Acumen Fund has chosen eight extraordinary individuals to be part of the first cohort of the groundbreaking Acumen Fund Fellows Program. The fellowship includes eight weeks of rigorous training, a nine-month field assignment with an Acumen investment, and another month spent debriefing at Acumen Fund headquarters in New York City.

"The goal of the Acumen Fund Fellows Program is to create a corps of individuals with the skills, tools, connections and understanding to play important leadership roles in the solving of critical social problems. In seeing our applicant pool, I believe we've tapped into a powerful desire among the next generation of leaders to merge financial and analytical skills and business experience with the social, political and environmental needs of our world," said Jacqueline Novogratz, Chief Executive Officer of Acumen Fund. "The Acumen Fellows selected all share not only individual accomplishment but a proven desire to serve, to listen, and to be part of a larger community focused on significant, measurable change."

The Acumen Fund Fellows Program will provide each participant with the unique opportunity to use their skills to effect real social change within Acumen's portfolio organizations, as well as build both the expertise and lasting relationships that will enable them to grow into global leaders. Fellows will be sent into the field to work on projects that will generate new economic opportunities for poor communities in Asia and Africa and serve as models for the creation of sustainable, scalable enterprises.

The 2006 Acumen Fund Fellows hail from Africa, Asia, Europe and North America. Each Fellow brings exceptional academic training and business skills to the program. The individuals that comprise this impressive and diverse group include:

--Jocelyn Wyatt, U.S., Previously India Country Director for Scojo Foundation (MBA, Garvin School of International Management, Thunderbird)

--Nadaa Taiyab, Sri Lanka, Former World Bank Consultant in Indonesia (MA, Fletcher School of Law and Diplomacy, Tufts University)

--Keely Stevenson, U.S., Created first online community for social entrepreneurs, Social Edge, for the Skoll Foundation (MBA, Said Business School, Oxford University)

--Fabrice Ndjodo, Cameroon, Former investment analyst with International Finance Corporation (MBA, Harvard Business School)

--David Lehr, U.S., Reuters Digital Vision Fellow at Stanford University (MPIA, University of California, San Diego)

--Adrien Couton, France, Senior Associate at McKinsey & Company, (MPA, Kennedy School of Government, Harvard University)

--Eric Berkowitz, U.S., Founder of management consulting firm ESB Partners (MBA, Wharton School, University of Pennsylvania)

--Ayeleen Ajanee, Pakistan, Previously with Unilever, Pakistan (MBA, Indian School of Business, Hyderabad)

Qualifications for the fellowship include demonstrated entrepreneurial spirit, an advanced degree and/or three to five years of relevant work experience, cultural sensitivity to the needs and challenges of the communities and enterprises with which Acumen Fund works, and a commitment to Acumen's mission of serving as a catalyst for change by supporting models that bring critical, affordable goods and services to the world's poor. More information on the individual backgrounds of the 2006 Acumen Fund Fellows will be made available in the coming weeks on Acumen's website, www.acumenfund.org, and on its blog, www.acumenfundblog.org.

The Acumen Fund Fellows program is a one-year, experience-based fellowship that begins in New York City with two months of intensive training in valuation techniques, business models, and risk analysis. This is followed by a nine-month field assignment with an investment in the Acumen portfolio and then a final month spent in New York City during which Fellows will share their experiences, exchange lessons learned, and focus on the next steps in their career.

About Acumen Fund

Acumen Fund is a global non-profit venture fund serving the four billion people living on less than $4 a day. Acumen is creating a blueprint for building financially sustainable and scalable organizations that deliver affordable, critical goods and services that improve the lives of the poor. Acumen adheres to a disciplined process in selecting and managing its philanthropic investments as well as in measuring the social and economic returns of the enterprises it supports. For more information on Acumen Fund's activities and investments, visit www.acumenfund.org.