Closed fund "RC2" became owner of one fifth of company "East point"

Closed investment fund "Reconstruction Capital II" (RC2) has bought 21.33% of company "East Point" for 30m EUR. This was announced by the fund whose stocks are registered with AIM market of the London Stock Exchange.

Major share of that money will be invested directly in "East point" group, while the investment arrangement anticipates the work on separation of business lines of the group into special companies that will be majority owned by "East point".

- We believe that RC2's investment in "East point" will contribute to involving of other financial partners into our business operations, which will be followed by the reorganization of the group into separate business units - President of "East point", Zoran Drakulić, pointed out.

"East point" group registered sales incomes of 520.3m USD in 2007, which is 8% more than in 2006. At the same time, the business profit grew by 15.4%, to 28.6m USD.

As far as RC2 is concerned, that fund invests in capital and bonds of private and listed companies in Romania, Serbia and Bulgaria. The fund plans to invest 70% of the funds in Romania and the rest in Serbia and Bulgaria.

Total net property of fund RC2 amounted to 135.3m EUR at the end of August.