Odessa Update

Aisi Realty Public Limited
30 April 2008


30 April 2008

                           Aisi Realty Public Limited

 Building Construction to commence at Bela Logistics Park development in Odessa

Aisi Realty Public Limited ('Aisi' or 'the Company'), a property investment
company focusing on development projects and related investments in Ukraine,
announces that it signed an agreement with a general contractor for the
construction of the buildings for the Bela Logistics Park development in Odessa.
Building construction will begin immediately with completion of the project
expected before the end of 2009.

The agreement has been entered into following the receipt of building approval
from the Architectural, Construction Council of Odessa Region for the Company's
Bela Logistics Park development. Following the receipt of the building permit
all necessary permissions and approvals have now been received to allow the
commencement of construction.

The Company's Bela Logistics Park development is adjacent to the main
Odessa-Kiev highway, approximately 20km from Odessa. Three independent warehouse
buildings are to be constructed with a gross area of 108,000 sq. m., each with
their own offices, gatehouse and fenced parking. One of the buildings has been
designed to incorporate approximately 11,000 sq. m. of chilled storage.

Commenting on the project, Director of Aisi, Beso Sikharulidze said: 'We have
seen a lot of interest from operators in the Odessa region. This is an important
project for us in an excellent location and we are very pleased to be one of the
first developers breaking ground in the area.'

Enquiries:

Aisi
Beso Sikharulidze, Director                            [phone]

Libertas Capital
Andrew Hardy, Aamir Quraishi                           [phone]

Corfin Communications
Neil Thapar, William Cullum, Clare Perks               + 44 20 7977 0020




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