Financial Results for the year ended 31 December 2008


27th July 2009

Aisi Realty Public Limited
(“Aisi” or “the Company”)

Aisi, a property investment company focusing on development projects and related investments in Ukraine, announces its audited results for the year ended 31 December 2008.

Financial Summary

•  Investment portfolio valued by DTZ at $64.8 million as at 31 December 2008 (31 December 2007: $49 million)
•  Net Asset Value was $82.5 million (31 December 2007: $116.1 million)
•  Net Asset Value per share of $0.43 (31 December 2007: $0.70)
•  Ungeared balance sheet with no debt as at 31 December 2008

Operational Summary

•  Construction of Brovary Logistics Center, Aisi’s first commercial project, is 75% complete. Property due for completion and occupancy in Q4 2009
•  In January 2009, signed agreement with the European Bank for Reconstruction and Development (“EBRD”) for $34.4 million of project finance for Brovary Logistics Center

New Strategy

•  Implemented new investment strategy focusing on two key developments in response to current challenging market conditions
•  Development of Bela Logistics Park, Odessa, to be phased. Bank loan facility of $65 million, currently undrawn, to be restructured accordingly

Commenting on the results, Beso Sikharulidze, executive director of Aisi, said: “This has been a challenging period for Aisi as the global credit crunch disrupted the good operational progress we made during the year. However, we have refocused our growth strategy, remain debt-free and intend to complete our first commercial project in the fourth quarter of this year, which should start generating cash in Q1 2010. As a result, we remain well-placed to take advantage of the long-term drivers in the Ukrainian real estate market once the economic uncertainty dissipates and market fundamentals regain momentum.”

A copy of the financial statement may also be found on this website.
COMPANY’S ANNUAL REPORT AND FINANCIAL STATEMENTS 2008

Full RNS statement.
Financial Results for the year ended 31 December 2008

Enquiries
AISI Realty Public Ltd
Beso Sikharulidze   + 38 044 459 3000
Paul Ensor   + 44 759 521 9011

Seymour Pierce Ltd
Nandita Sahgal,Christopher Wren   + 44 (0) 207 107 8000

Corfin Communications
Neil Thapar, Martin Sutton, Claire Norbury   +44 (0) 207 977 0020