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Concorde Capital's Placement of TKS 2x Oversubscribed


    TKS-Management, Western Ukraine's largest real estate development
    company, has successfully placed a 22% equity stake for USD 39.6 mln
    among leading foreign institutional investors. The placement brings
    the company's MCap to USD 180 mln. Concorde Capital acted as placement
    agent and sole financial advisor for the deal.

    Waymore Holdings (Cyprus), acted as issuer of the company's
    depositary receipts, which amounted to USD 1.98 mln, with a par value
    of USD 20 each and a 2:1 receipt to equity ratio.

    TKS' placement was nearly 2x oversubscribed leading the company's
    shareholders to increase their offering from 20% to 22%.

    Proceeds raised from the placement will be primarily used to
    develop new properties and complete current portfolio projects.
    Commercial property development and portfolio diversification are the
    company's key focuses as it plans to strengthen its leadership
    position in the region.

    The company's depositary receipts are scheduled to begin trading
    on the Frankfurt Stock Exchange on August 10, 2007.

    For Editors

    TKS-Management was founded in 1998, and its key business is the
    construction and development of commercial and residential properties.
    TKS' projects are located in the Western Ukrainian cities of Lviv,
    Truskavets, Drohobych, Boryslav and Novovolynsk. The company's project
    portfolio includes 14 projects, with a combined total area of 156,500
    square metres, located on 94.3 ha of land. One of the company's areas
    of expertise is in frame-monolithic construction.

    Concorde Capital is a full service investment bank founded in
    2004, which operates on the Ukrainian, Russian and CIS financial
    markets. In 2007, Concorde Capital's analytical department 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. In 2006, Concorde
    Capital attracted over USD 300 mln in investments for leading
    Ukrainian companies.