Citadel Capital, (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa with US$ 9.5 billion in investments under control, confirmed today that Golden Crescent Investments Ltd., an Opportunity-Specific Fund controlled by the firm, has entered into a termination agreement that ends the previously announced sale of the National Petroleum Company Egypt Limited to Sea Dragon Energy Inc. (Sea Dragon) (TSX-V: SDX), a Calgary-based exploration and development company.\n\nGolden Crescent and Sea Dragon mutually agreed to enter into the termination agreement in light of uncertainty regarding the date on which the acquisition could be completed as well as ongoing economic turbulence locally and internationally.\n\n“Citadel Capital’s ongoing program to rebalance its portfolio through the divestment of smaller and non-core assets continues apace,” said Citadel Capital Founder and Chairman Ahmed Heikal. “While will be reviewing the future of NPC Egypt in the period ahead, our emphasis through the end of this year is firmly on tending to the growth of core platform and portfolio companies while reviewing additional divestment transactions now in the pipeline.”\n\nHeikal noted that the firm added more than US$ 325 million to its balance sheet in FY11 and has deployed in the first six months of this year some US$ 100.35 million of a US$ 150 million OPIC-backed facility to fast-track growth at core investments.\n\n“We maintain a confident view on the outlook for our core investments, which made important operational and financial progress in the first half, which as we have noted in our recently released Business Review have weathered the economic fallout from the Revolution. These investments are now resuming the growth tracks on which they were moving pre-25 January 2011, with their anticipated pace of growth accelerated by our deployment of OPIC funding.”\n\nCitadel Capital made US$ 121.2 million in fresh investments in 1Q12 in its own platform companies and announced last month that it had reached financial close on the Egyptian Refining Company (ERC), which is building a US$ 3.7 billion greenfield refinery that will halve Egypt’s current diesel imports, result in more than US$ 300 million in annual benefits to the state and result in critical improvements in air quality while creating thousands of jobs.\n\n—Ends—\n\nCitadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity-Specific Funds. The firm’s 19 OSFs now control Platform Companies with investments of more than US$ 9.5 billion in 15 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.2 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2007-2012, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.\n\nFor more information, please contact:\n\nMs. Ghada Hammouda\nHead of Corporate Communications\nCitadel Capital (S.A.E.)\n\nghammouda@citadelcapital.com\n\nTel: +20 2 2791-4439 • Fax: +20 22 791-4448\nMobile: +20 106 662-0002