November 1, 2007

DT&T has acted as legal advisor to the issuer Chimimport and the investment bank UniCredit Bulbank in the biggest Bulgarian public offering of shares.

Not surprisingly, the offering of new shares from the capital increase of Chimimport attracted huge interest from local and foreign investors. The offer price per share was BGN 11 thus presenting a significant discount from the current market price of BGN 16-17 for deals executed on the Bulgarian Stock Exchange. Just a year ago in the Chimimport IPO the price per share was only BGN 4.

For the 60 years of its existence, Chimimport has transformed itself from a successful foreign trade enterprise specialized in trading in chemical products to a large-scale holding company which unites more than 57 companies operating in different sectors of the economy of Bulgaria. The priority investments of Chimimport are focused in: financial sector (banking services, insurance, pension insurance, securitization of real estate and receivables); extraction of oil and gas; building of production capacity in the field of the oil processing industry, production of biofuels and production of rubber products; petroleum and chemical products; production of vegetable oils and purchase, processing and trading in grain foods; air transport and ground activities related to the maintenance and repair of aircraft; river and maritime transport, port infrastructure.

Chimimport intends to use the net proceeds from the Offering to finance the investments and the activities of the Group, including for subscription of shares from the forthcoming capital increase of Central Cooperative Bank, for acquisition of shares of companies participating in the consolidation process of the grain business of the Group, for acquisition from the Major Shareholder of the pension company Lukoil Garant for at least BGN 22 million, for acquisition of real estate, as well as for covering general needs of the Group`s business and deriving benefits for the Group.

The income of the Chimimport Group rose from BGN 354 million in 2005 to BGN 518 million in 2006. The net result of the activities of the Group increased from BGN 30 million in 2005 to BGN 60.8 million in 2006. The net result of the activities of the Group for the first quarter of 2007 is BGN 25.2 million while, for the first quarter of 2006, it was BGN 1.8 million.