WORLD INVESTMENT CAPITALS AD is a Bulgarian joint-stock company registered at Sofia City Court. The company's capital amounts to EUR 639,115 and is represented and managed by Nikola Bogdanov Nikolov - Chief Executive Officer.

The company's assets amount to approx. EUR 205,000 and, as of 01^st November 2006, are distributed as follows:

The source of financing is the company's own business activity.

The company's main objects of activity are:

- Development of investment projects,

- Construction of underground and above-ground facilities, residential and office buildings.

The company's priority is the implementation of preliminary studies and developments in the sphere of building and construction; it has constructed and handed over residential units and has experience in the construction of specific underground facilities. To date, the following have been constructed and handed over: Residential buildings with total built-up area of 87,500 sq. m, including 15,000 sq. m of office buildings in the territory of the city of Sofia, Republic of Bulgaria.

Underground parking lots - a garage with total built-up area of 3,340 sq. m in the territory of the city of Sofia.

Residential buildings with total built-up area of 15,000 sq. m, as well as a Trade Centre with storage premises with total built-up area of 10,000 sq. m in Israel.

Another sphere in which the company specializes is the development of financial plans, forecasts and cash flows in the field of marketing research and identifying markets for particular products or goods. The company strategy since 2001 has always been to implement, through its affiliated companies, import of construction goods and listed /excise/ goods from the European countries.

The company is currently undergoing training and preparation for certification according to the requirements of the European Community, under the three basic European standards for quality assurance of construction production, human resources and environmental protection. The personnel are being trained by international certified consultants having the relevant licenses.

Usually, the overall construction process lasts up to 18 months.

The temperature changes have certain impact on the implementation of the construction process, but in view of the fact that there are such materials in construction that neutralize the effect of climatic changes, the risk of winter temperatures affecting adversely the materials has been minimized.

There are experts in the company - technical quality assurance and materials quantity managers, who implement operative control over each single operation concerning the accepted and confirmed priced bills of quantities, prepared in accordance with the requirements and norms of the construction regulations.

The company has signed a contract for Independent Construction Supervision.

The company has developed a system of commercial contracting and is directly managed by its Marketing and Sales Department. The ‘Prices' section of its sample Contracts envisage 30% advance payments initially, depending on the stages for ordering materials and performance of works by external contracting parties.

The company has a well-established pricing policy with respect to sales. The prices have been formed and determined in accordance with the market situation and the demand of such kind of ‘construction product' has been taken in consideration.

The company has developed its own financial policy with regard to the proceeds from sales to customers, based on financial mechanisms.

The main goal of World Investment Capitals AD is to implement an investment policy in the sphere of construction for the development and improvement of the infrastructure in Sofia, as well as in other cities and towns in the Republic of Bulgaria.

The company's main objective is to apply successfully for and be granted a certificate under the three European standards as of 31^st December 2006, which would place World Investment Capitals AD among the top companies in the Republic of Bulgaria as a leading construction organisation in the General Construction sector.

Last, but not least, I would like to present myself to you with some personal information about me as Manager of World Investment Capitals AD.

In 1990, I was among the first creators of business in the Republic of Bulgaria, and I am a member of the Bulgarian Industrial Association and the Association of Building Contractors.

In 2001 I was elected Member of Parliament in the 39^th National Assembly of the Republic of Bulgaria.

I was elected Chairman of the Parliamentary Group of National Ideal for Unity. I am an initiator and founding member of the Permanent Commission Countering Corruption at the National Assembly of the Republic of Bulgaria. I have taken part in the following commissions of the 39^th National Assembly:

-          Energy Commission

-          Regional Development Commission

-          Citizens' Complaints and Petitions Commission

-          Commission Countering Corruption

At the end of 2004, I left the National Assembly of the Republic of Bulgaria of my own will and now I manage my own business.

                                                                                                 Nikola Nikolov