CURRENT NEWS

• U.S. Sugar Corporation

• Schaffer Global Group Participates in the Mali President's Council for Investment

• Arno Jansen and Malcolm Wade Receive the George & Eleanore Meade Award

• Susan G. Komen "Race for the Cure"

• Wings of Freedom Tour

U.S. Sugar Corporation

Schaffer completes the modernization and upgrade of U.S. Sugar Corporation's Clewiston Sugar Factory.  The Breakthrough Project  expanded the factory to a grinding capacity of 40,000 tons sugar cane per day.  Schaffer established an "Owner's Team" to perform the

engineering design and to supervise the engineering, construction and procurement for the project.

START DATE:  April 2005

STOP DATE:  October 2007

PROJECT PRESS RELEASES:

U.S. Sugar Begins 2007-2008 Sugarcane Harvest

U.S. Sugar Using New Automated Manufacturing Plant

U.S. Sugar Starts Cane Harvest, Relies on Bigger Mill

Sweet GIG - PMI Magazine

Schaffer Global Group Participates in the Mali President's Council for Investment

Dr. Mima Nedelcovych, Managing Director of SGG and Chairman of the Societe Sucriere de Markala (SoSuMar), and Harouna Niang, General Manager of SoSuMar, were invited to join the Council and lead the discussions centered on Creative Financing Solutions arising from Public Private Partnerships (PPP).  The day long 5th Session of the Council was chaired by the President of Mali, His Excellency Amadou Toumani Toure, and held at the Executive Offices on 18 February 2008.

The small group, included 6 key Ministers, and several others invited companies and institutions, had the opportunity to discuss in depth the pros and cons of PPP mechanisms for enabling the creation and financing of large scale agro-industrial projects, using the Markala Sugar Project as a cutting edge example.

The conclusion was that large and complex projects such as SoSuMar, with all the myriad benefits created by and spinning off from it, could not be achieved without a close working relationship between the Government and the mandated developer (SGG) and the core private investor (Illovo Sugar).  This type of cooperation and structuring should be sought for other similar large scale projects of high importance to President Toure's Program for Economic and Social Development.

Arno Jansen and Malcolm Wade Receive the George & Eleanore Meade Award

Arno Jansen and Malcolm Wade received the George & Eleanore Meade Award for their presentation titled "Fast Tract Implementation of One of the World's Largest and Most Complex Sugar Factory Projects."  The paper was judged the best paper presented at the 2007 Annual Technical Meeting of Sugar Industry Technologists in Baltimore, Maryland.  The Meade Award Plaque will be presented to Mr. Jansen and Mr. Wade during the annual Awards Banquet at the next annual meeting in Leipzig, Germany on May 27, 2008.

Congratulations for a job well done!

Susan G. Komen "Race for the Cure"

On Saturday, March 8, 2008, 17 members of SAIL, families and friends participated for the second year in a row in the "Race for the Cure" in support of a former colleague and friend.  More than 8,000 participants came out to the 2008 Komen Baton Rouge Race for the Cure.  This event, which established a new record, is the largest 5K race in the Capital Region.  The Race raised $250,000 which will be used for breast cancer education, screening and treatment programs in our region, with an emphasis on underserved groups and areas.

Thanks to all who participated.

Wings of Freedom Tour

On Friday, March 9, 2007, Mr. Francis C. Schaffer, our company's founder and a Colonel and lead navigator during his U.S. Air Force service, joined the "Wings of Freedom Tour" on its flight from Hattiesburg, Mississippi to Baton Rouge, Louisiana.

The Collings Foundation's "Wings of Freedom Tour" is a 130 city tour of four vintage World War II bombers.  Col. Schaffer was active in both World War II and the Korean War.  On Friday, Col. Schaffer arrived at the Baton Rouge Metro Airport on a B-24 Liberator "Witchcraft" WWII heavy bomber, similar to the aircraft he navigated during WWII.  In addition to the B-24 Liberator, a Boeing B-17 Flying Fortress WWII heavy bomber, a North American B-25 Mitchell WWII medium bomber and an AT-6 Trainer were seen circling the Baton Rouge Metro Airport.

Col. Schaffer (below) was met at the airport by his family, friends, and employees from the Baton Rouge office.  It was a very special time for the Schaffer family.