ADC publishes Annual Report 2011 ++ EUR 0.5 million upwards revision of net profit compared to preliminary results ++ Net profit of EUR 8.7 million

ADC African Development Corporation (ADC), ISIN DE000A1E8NW9, a fast growing merchant banking group focusing on the frontier markets in sub-Saharan Africa, publishes its Annual Report 2011 and releases audited full-year 2011 results.

The audited net profit for ADC in 2011 was EUR 8.7 million - a 31% gain from 2010 (EUR 6.6 million) and was revised upwards compared to the preliminary results by EUR 0.5 million.

The company's total equity reached EUR 88.3 million increasing by 34% compared to 2010 (EUR 66.1 million). At year end, ADC held total assets of EUR 103.0 million, up from 71.0 million in 2010.

The Annual Report 2011 is available to investors and other interested parties via the following link on the ADC website:

http://www.african-development.com/files/20120416_adc_annualreport_en_f.pdf

About ADC
ADC African Development Corporation (ADC), ISIN DE000A1E8NW9 (ticker symbol: AZC.GR), a member of the Angermayer, Brumm & Lange Group (www.abl-group.de), was established in September 2007 and aims to become one of the leading banking groups in sub-Saharan Africa, active in corporate and retail banking as well as insurance business and proprietary investments. ADC also provides high level advisory services to international clients which want to pursue investment and business opportunities on the highly attractive African growth markets. The company's success is primarily due to its local management team, which follows international best practice principles to further develop its operational companies and implements conventional international processes to increase their profitability. As the second international emerging market investor in the world, ADC was integrated into the insurance solution offered by the Multilateral Investment Guarantee Agency ('MIGA'), a member of the World Bank Group, primarily due to its strong operational approach and adherence to the highest ethical standards. This insurance offers protection against a variety of political risks, in particular the risk of radical political change.

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