| 13 August 2007 |

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Knight Frank will be providing consulting services to British Taller Capital fund in realization of its plans to construct the largest network of retail-industrial zones in Russia and Ukraine.
Within the framework of the agreement Knight Frank will be developing the building concepts, conducting financial analysis, and undertaking a marketing campaign targeted at selling the premises in Russian regions and large Ukrainian cities with population around 300,000 people.
According to Konstantin Romanov, Partner at Knight Frank, the development of retail-industrial zones includes the construction of hotels, petrol stations and warehousing premises.
“It is a new type of complexes targeted at mass consumption. The convenient location of premises along major federal and transit transport routes provide easy access for large cargo carrying vehicles as well as usual transport.”, adds Mrs. Romanov.
Professionals at the Industrial Strategic Consulting department of Knight Frank developed and agreed a final version of frame agreement for construction of 100 warehousing premises. The development period is estimated to be 3 to 5 years.
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