Concorde Capital Completes Bank Forum Placement, Ukraine Real Estate Fund Next

Kiev, Ukraine (PRWEB) October 21, 2005 -- Concorde Capital (www.con-cap.com), a leading provider of financial services in Ukraine, completed its placement of a 10% stake in Bank Forum valued at USD $20 million on Thursday, October 20. The deal which values Ukraine’s 12th largest bank at USD $200 million was over-subscribed by 1.8 times. P/BV ratio as a result reached 2,9.

The placement will be conducted through a GDR program facilitated by the Bank of New York. The bank’s shares are listed on the local stock exchange (PFTS) and the GDR’s will be registered on Freiverkehr of the Frankfurt Stock Exchange by the end of October 2005. Over 10 large USA and Western Europe institutional investment funds have become interested in the bank’s shares.

The Bank Forum deal has enhanced Concorde’s placement of Ukrainian and CIS blue chips. The company has already placed: 5% of AvtoKraz ($4.5mln), 10% of Bank of Georgia ($4.5mln), 7.5% of DniproAzot ($7.3mln) and 10% of Galnaftogaz ($14mln).

Concorde Capital also plans to raise USD $100 million through its imminent launch of the “Colliers-Concorde Ukraine Real Estate Fund.” The Fund, the first institutional product dedicated solely to the Ukrainian real estate market, will be co-managed by Colliers International which is also the property advisor for the Fleming Family & Partners Russia Fund. The Fund will invest mainly in development projects in the commercial sector of the Ukrainian real estate market. The placement for the Fund is planned to close in early December 2005

For additional information contact

John Suggitt

Concorde Capital.

Tel. +380 (44) 206-83-67

fax +380 (44) 206-83-66

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