Leading Ukrainian Sugar Maker Dakor Places 20% Equity Stake

One of Ukraine's largest sugar producers, Dakor
(http://www.dakorwest.com), has successfully placed a 20% equity stake
among foreign investors for USD 21 mln, giving it an MCap of USD 100
mln. Almost half of the placed shares were sold in the form of
depositary receipts issued by the Bank of New York.

Concorde Capital (http://www.concorde.com.ua) acted as exclusive
consultant and book runner for the placement. According to Concorde
representatives, Dakor was placed at higher multiples than similar
sugar companies quoted on international stock exchanges. The placement
included a road-show that stopped in several major European financial
centers.

Dakor plans to use the proceeds from the private placement to
finance the modernization of its production facilities, further
develop its agricultural business, and finance working capital. In
2007, Dakor intends to raise its sugar beet processing capacities and
significantly increase its sugar beet yield.

The consolidated net sales of the Dakor group in 2006 came to USD
63.4 mln, 66% of which came from sugar and beet processing
by-products. The company's EBITDA was USD 15.4 mln in 2006. Dakor also
produced over 105 ths mt of sugar in 2006.

Dakor's core businesses include raising and processing sugar
beets, sugar and sugar by-product production, in addition to other
agricultural activities and raising livestock. The company's four
large sugar mills are located in Western Ukraine in the towns of
Dubno, Kremenets, Ostrog and Zolochiv. The company also grows crops on
more than 80 thousand ha of land. Dakor is one of the most rapidly
developing and technologically-equipped sugar companies in Ukraine,
and has continually increased its sugar production volumes over the
last few years. The company plans to develop its production capacity,
and improve sugar beet production and processing technologies to
strengthen its leading position on the market.

Concorde Capital is a leading investment bank providing a full
range of investment banking services in Ukraine, as well as on Russian
and CIS financial markets. Concorde Capital's strategy is to obtain
the highest possible value for its clients using stock market
instruments. In the first four months of 2007, Concorde Capital has
attracted over USD 200 mln in investments for leading Ukrainian
companies.