CertAsig S.A ("CertAsig") is a Romanian property casualty insurance company, focusing on all classes of "non life" insurance.

RCI II acquired 95% of CertAsig's shares in December 2007 and provided additional development capital during 2008 and 2009.

CertAsig is developing a profitable portfolio of insurance products focusing on both coporate and retail customers in one of the fastest growing markets in Europe.

ACTIV Parking (Regional)
(www.activparking.cz , www.coolar.pl)

RCI II controls one of the largest parking groups in Central and Eastern Europe, ACTIV Parking Holdings S.A. ("ACTIV Parking") with over 40,000 spaces under management in Poland, the Czech Republic and Slovakia.

ACTIV Parking acquired 100% of ACTIV a.s., a long-time parking zone operator on the Czech and Slovak markets, through a combination of direct purchase of shares and a capital increase in January 2009 and followed that in November 2009 with the acquisition of 93% of COOL AR Sp. z o.o., the oldest operator of paid parking zones in Poland currently active in 25 Polish towns and cities.

Royalton plans to provide additional development capital, which would enable ACTIV Parking to further expand its business in its core markets and in the other countries of Central and Eastern Europe.

RCI - Current Portfolio

Vratislavia Holding (Poland)

Vratislavia Holdings ("VH") is the Luxembourg holding vehicle for a portfolio of companies holding and managing real estate and car parks in Western Poland. VH owns a portfolio of A nonresidential buildings, car parks and a pipeline of office and hotel development projects.

RCI controls 96% of the Company and has committed almost US $17 million to date.

RCI - Exited Investments

Starman Cable TV (Estonia)
(www.starman.ee)

Starman AS ("Starman") is the largest cable TV operator in Estonia. The company provides several bundled service packages offering "triple play" service: video programs, broadband internet connection and voice telephony. It is also involved in the provision of terrestrial digital video services.

RCI bought a majority shareholding in Starman from the Swedish telecommunication group Telia in September 2000. RCI and the local management team provided additional development capital to facilitate further growth of the customer base, expansion into retail broadband internet services, and retail telephony. The Company almost tripled the number of Cable TV subscribers, became a leader in the provision of internet services via cable in the main urban areas, and is rapidly expanding into retail fixed-line telephony.

In June 2005, RCI offered almost half of its shareholding in the Company in an IPO. The Company was listed on the Tallinn Stock Exchange. In September 2007, the remaining shares were sold to a consortium of financial buyers. RCI realized a 3.1x multiple on its originally invested capital.

Állami Nyomda Rt (Hungary)
(www.allaminyomda.hu)

Allami Nyomda Rt. ("Allami") is the leading Hungarian security printer. Allami has four lines of business: plastic card solutions, document security solutions, electronic document management and bulk transactional printing.

RCI invested in the Hungarian media group Lang Kiado & Holding in December 2000. In 2003, Royalton Partners initiated the demerger of the original holding company into two new groups - Lang Kiado & Publishing and Holding and Lang Security Technology Holding. RCI held 45% of both companies. Lang Security Technology Holding owned 76% of Állami.

In December 2005, Allami was listed on the Budapest Stock Exchange. RCI sold 67% of its interest in the initial public offering. The remaining RCI shares were sold in a block trade on the Budapest Stock exchange in December 2006. RCI achieved an exit multiple of 3.8x on this investment.

Lang Kiado & Holding Rt. (Hungary)

Lang Kiado & Holding Rt. was the holding company for several companies that specialize in two areas: (i) educational services and publishing and (ii) print media.

RCI invested in the Hungarian media group Lang Kiado & Holding in December 2000.In 2003, Royalton Partners initiated the demerger of the original holding company into two new groups - Lang Publishing and Holding and Lang Security Technology Holding. RCI held 45% of both companies.

Royalton Partners introduced a strategy to shift the focus of Lang Kiado & Holding from mature, stable businesses to high growth, high multiple areas. Lang Holding initially consisted of a printing and magazine publishing business. The cash flows from the printing division were leveraged to redirect the business into the educational media space. Perfekt was acquired in 2002, and NTK, the national textbook publisher, was acquired in 2005 from the Hungarian government in a leveraged privatization transaction.

In March 2006, the shareholders of Lang Kiado & Holding entered into an agreement to sell the educational business to a Finnish media group Sanoma. The company was fully exited in November 2008. RCI achieved an exit multiple of 1.8x on this investment.

Ella Bank (Hungary)
(www.elsolakashitel.hu)

Elsö Lakáshitel ("Ella Bank") offers mortgage financing to retail customers in Hungary and denominated in Hungarian Forints or foreign currencies.

RCI owned 87% of the shares in Ella Bank's Luxembourg holding company between 2002 and 2007.

Royalton Partners transformed what was a limited savings and loans cooperative into a bank focused on mortgage lending. Ella Bank received a full banking license and developed an innovative marketing strategy, targeting young, family-oriented, professional customers. Execution of this business plan started in 2003. Since then, it has consistently performed ahead of targets, becoming the fastest growing bank in the Hungarian mortgage market.

In March 2007, RCI sold its shareholding in the bank to the French financial group AXA. The exit multiple reached 3.9x of originally invested capital.

mPunkt Polska (Poland)
(www.mpunkt.pl)

mPunkt Polska SA ("mPunkt") is the second largest distributor of mobile phones in Poland. mPunkt operates more than 200 points of sale, which are located throughout the country, mainly in shopping malls and pedestrian shopping districts. Although the shops are franchised, mPunkt controls the leases. The company distributed the mobile services of Polkomtel, Vodafone's affiliate in Poland. mPunkt also distributed telephones and accessories from leading global manufacturers, offered insurance and performed authorized repairs.

RCI invested in this fast-growing Polish mobile telephone distribution network in January 2002. RCI controlled over 97% percent of the shares and has committed development capital to facilitate expansion. mPunkt Polska's strategy was to maintain its position as one of the leading Polish mobile telephone retailers.

Royalton Capital Investor, finalized on May 4, 2010, the sale of 100% of mPunkt Polska S.A. to Cyfrowy Polsat the biggest Polish DTH platform offering pay TV services as well as mobile telephony and broadband internet access. Final proceeds were received on August 4, 2010. The sale of mPunkt brought the total number of RCI found exit to five. RCI achieved an exit multiple of 2.1x on this investment.