Robert L. Johnson Pledges $30 Million of Direct Investments in Liberia

Robert L. Johnson, founder of the RLJ Companies, and founder of Black Entertainment Television, today announced his commitment to the Clinton Global Initiative forum to lead a high level delegation of African-American leaders to Liberia to facilitate, at a minimum, $30 million of direct investments in Liberia for infrastructure, health, education and agriculture development.

The delegation, which will include African American leaders in education, health, law and business, will form the basis of an organization whose goals are as follows:

1. To establish a permanent interest group of African Americans to reignite the long-term historical ties between African Americans and the people of Liberia;
2. To form a permanent organization headed by African Americans to advocate on behalf of Liberia for greater support from the United States government and the US business community; and
3. To further awaken African American interest in the whole of Sub-Saharan Africa.

"I had the privilege of meeting with President Ellen Johnson-Surleaf and I am anxious to work with President Clinton's Global Initiative to support President Johnson-Surleaf's leadership of Liberia as it recovers from more than 10 years of civil war. The goal of our commitment is for Liberia to become an economic and social success that will benefit all Liberians," Johnson said. I invite all Americans to join us in this initiative.

Participating with Mr. Johnson in the announcement were: Debra Lee, CEO of Black Entertainment Television; Clarence Avant, recording industry executive; Ciceley Tyson, actress; Jeffrey Wright, actor; Rodney Slater, former Transportation Secretary, and Chris Tucker, actor.

About Robert L. Johnson and the RLJ Companies.

Robert L. Johnson, America's first African American Billionaire, and founder of BET (Black Entertainment television) is the Founder and Chairman of The RLJ Companies, an innovative business network that provides strategic investment and direction in and for a diverse portfolio of companies in the financial services, real estate, hospitality/restaurant, professional sports, film production, gaming and recording industries.

The RLJ Companies' core businesses include: RLJ Development, a privately held hotel real estate investment company and RLJ Urban Lodging Funds I and II, private equity real estate funds, which together have over $3 billion in combined assets; RLJ Asset Management Group, which includes RLJ Select Investments, LLC, a hedge fund of funds joint venture with Deutsche Bank AG and RLJ Equity Partners, LLC, a private equity fund formed in partnership with The Carlyle Group; Urban Trust Bank, a service-focused banking institution providing banking services to the urban community, Our Stories Films, a film production joint venture with the Weinstein Company; the NBA Charlotte Bobcats, WNBA Charlotte Sting and Charlotte Arena Operations; Caribbean Gaming and Entertainment (C.A.G.E.), a video lottery terminal company; Rollover Systems, Inc., a retirement services company, and Three Keys Music, a jazz recording company.

Source: RLJ Companies