The rating of Odesa confirms at uaАА- Credit-Rating confirms the rating of Odesa at uaАА- Credit-Rating confirms the rating of Odesa at uaАА-

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07.06.2006

"Credit rating" upgraded credit-rating of "Proizvodstvenniy Vector", Ltd to "uaB"

Today independent rating agency Credit-Rating announced the upgrade of the long-term credit rating of the registered interest-free (target) bond issues by Proizvodstvennyy Vektor, Ltd (A series in the amount of UAH 14.31 million, B series in the amount of UAH 58 million, C series in the amount of UAH 145 million with a circulation period of 5 years, D series in the amount of UAH 36.1 million, E series in the amount of UAH 84.1 million with a circulation period of 4 years) from uaCCC to uaB. The companys main activity after the conversion in 2004 is construction investment.

When upgrading the credit rating of Proizvodstvennyy Vektor, Ltd the following factors were taken into consideration: since the beginning of the year the assets increased 1.2 times, due to the companys activity to realize the residential complex. The volume of unfinished construction on Vremena Goda project came up to UAH 106.6 million in a year and beginning of May 2006 the construction project was over 30% complete. According to the results of the 1st quarter 2006 the company had negative financial result in the amount of UAH 5.3 million.

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