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Unaudited Financial Results for the six months ended 30 June 2009

30th September 2009

Aisi Realty Public Limited
(“Aisi” or “the Company”)
Unaudited Financial Results for the six months ended 30 June 2009

Aisi, a property investment company focusing on development projects and related investments in Ukraine, announces its unaudited results for the six months ended 30 June 2009.

Financial Summary
• Investment portfolio valued by DTZ at $48.7 million as at 30 June 2009 (31 December 2008: $64.8 million; 30 June 2008: $89.9 million).
• Net Asset Value was $63.1 million (31 December 2008: $82.5 million; 30 June 2008: $142.5 million).
• Net Asset Value per share of $0.33 (31 December 2008: $0.43; 30 June 2008: $0.74).
• Ungeared balance sheet with no debt as at 30 June 2009.

Operational Summary
• Signed agreement with the European Bank for Reconstruction and Development (“EBRD”) for $34.4 million of project finance for Brovary Logistics Center.
• Construction of Brovary Logistics Center, Aisi’s first commercial project, is 80% complete. Property on track for completion and occupancy by Q1 2010.
• Implemented new cost reduction measures focusing on tight cash management in response to challenging market conditions.

Post-period Summary
• Raised $5.4 million (before expenses) in additional funding by way of a placing of shares with new and existing investors.
• Proceeds of the Placing have been used by the Company primarily to finance the construction of Brovary Logistics Center to meet the equity spending requirement for accessing the EBRD funding facility, which will enable the completion of the project.
• On 24 September, Marfin Popular Bank Public Co. Ltd of Cyprus (“Marfin Bank”) signed a participation agreement with EBRD for syndication of the first tranche of funding, which will amount to $16 million.
• Renewed agreement with UVK, a leading Ukrainian logistics operator, for the pre-letting of Brovary Logistics Center, covering a 10-year lease term commencing January 2010.
• Following the equity raise, the Company reiterates that it is currently reviewing its options for internalizing the management structure of the Company.

Commenting on the results, Beso Sikharulidze, executive director of Aisi, said: “Trading conditions in the Ukrainian property market have remained difficult due to an uncertain macroeconomic environment. However, the Company remains debt free and is nearing completion of its first income-generating property. We are now focusing on securing the release of EBRD funds, which have already been approved, to complete construction as planned in the first quarter of 2010.”

Please find a copy of the financial statements here, as well as the full interim report.