Concorde Capital Completes Darnitsa Pharmaceuticals Private Placement

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Darnitsa Pharmaceuticals, one of Ukraine's largest pharmaceutical
producers, through its holding company Nord Star Pharmashare (Denmark)
has successfully placed a 10% equity stake among foreign investors for
USD 48 m, giving Darnitsa a total MCap of USD 560 m.

Shares of Nord Star Pharmashare were sold in the form of global
depositary receipts (GDR) issued by The Bank of New York and began
trading on the Frankfurt stock exchange on October 5. The price per
GDR corresponding to one share was USD 8.7 at the placement. In all, 5
555 550 depositary receipts were placed on the exchange.

Concorde Capital acted as sole financial advisor and book runner
of the placement.

Darnitsa is the first Ukrainian pharmaceutical company to list on
an international exchange.

Concorde Capital CEO Igor Mazepa had this to say about the deal,
"the strong interest the placement received from foreign investors,
led the management to increase its placement stake to 20%, which is
likely to be purchased by strategic investors, and will have a
positive impact on Darnitsa's development strategy."

The company intends to use the placement proceeds to enlarge its
production and complete its transition to full compliance with GMP
(Global Manufacturing Practice). According to Aleksey Troinikov, Head
of Darnitsa's Auditing Committee, "Darnitsa's strategic plans include
launching an asthma drug production unit by the end of 2009, as well
as the construction and launch of biotechnological medicine production
(R-DNA insulin, human growth hormone, and anticancer vaccines) by late
2010".

For Editors

Darnitsa Pharmaceuticals was the first company in Ukraine to
launch production in compliance with GMP and ISO 9001:2000. The
company has been operating for over 70 years in the domestic market,
and over the last few years it has been the leader of Ukrainian
pharmaceutical industry. Darnitsa is the largest pharmaceutical
company in terms of output with over a 26% share of total
pharmaceutical production in Ukraine.

Concorde Capital (www.concorde.com.ua) is a full service
investment bank operating on the Ukrainian, Russian and CIS financial
markets. In 2007, Concorde Capital's analytical team was named the Top
Analytical Team covering Ukraine by Thomson Extel's Pan European
Survey. Concorde's role in the sale of Elektron Bank to Austria's
Volksbank International earned the company the Adam Smith Institute's
"Best Ukrainian M&A deal of 2007" award. Concorde Capital has
attracted over USD 1 bln for leading Ukrainian companies over the last
two years.

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