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Terminal Brovary Update

1 November 2007

Aisi Realty Public Limited

Terminal Brovary Update

Aisi Realty Public Limited (“Aisi” or “the Company”), a property investment company focusing on development projects and related investments in Ukraine, announces that it has received building approval from Brovary City Council of Kiev Region for its Terminal Brovary logistics complex. Following the receipt of the building permit all necessary permissions and approvals have now been received to allow the commencement of construction. Furthermore, the general contractor has been selected for construction of the building, following completion of ground works. It is expected that building construction work will begin immediately. Completion of the project is expected in mid-2008.

Terminal Brovary is some 27 kilometres from Kiev and will be one of Ukraine’s first Class A logistics warehouses. Over 42,800 square metres of warehouse space will be built together with office units. Terminal Brovary is located approximately 17 kilometres from Kiev-Borispil airport and is strategically positioned to serve key markets in Europe and Russia being situated on the intersection of two major highways leading north-east to Moscow and south to Kiev-Borispil airport.

In addition, it has been decided to increase the Company’s interest in Terminal Brovary to 90% through the acquisition of a further 30% stake from the original vendors for US$1.25 million, in accordance with the sales and purchase agreement entered into in September 2006. The remaining 10% held by the original vendors will be acquired following the signing of a lease agreement for the logistics centre.

Commenting on the project, Director of Aisi, Beso Sikharulidze said: “We are very pleased to start work at the Brovary Warehouse and we have had good early indications of interest from international and local logistics companies. This is our first green-field venture and a flagship project in the local region.”

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