OREANDA-NEWS. July 20, 2010. TMM Real Estate Development PLC (FSE: TR61) ("TMM" or the "Company") announced that it has decided to strengthen its board of directors and improve its corporate governance structure by appointing two non executive directors to the board.  Such appointments are consistent with TMM's long-term strategic objective of expanding its presence on the international capital markets.  TMM's GDRs are currently listed on the Open Market segment of the Frankfurt Stock Exchange.

Maarten van den Belt and Nicholas Enukidze have agreed to join TMM's board in autumn 2010.

"We are delighted that two such high calibre individuals have agreed to join TMM's board. I see it as a sign of real confidence in TMM's business and prospects," commented Mykola Tolmachov TMM's CEO and Chairman of the board.

About Maarten van den Belt

Maarten van den Belt has been a prominent member of CEE international banking community for 15 years. From March 2008 to December 2009 he served as the General Manager of Visa International for CEMEA Region based in Moscow. Before Visa International Mr. van den Belt served as Managing Director of WestLB Moscow for three and half years. Prior to that he spent over seven years at Raiffeisen first as the Deputy Chairman of the Board of Raiffeisenbank Austria Moscow and then as General Manager of RZB London. Before Raiffeisen Mr. van den Belt spent 11 years at ING leaving ING as Vice President in 1996. Mr. van den Belt holds degree in Social and Economic Law from University of Utrecht.

About Nicholas Enukidze

Until June 2010 Mr. Enukidze served as the Chairman of the Supervisory Board of Bank of Georgia, the leading bank in Georgia with presence in Ukraine and Belarus. Following its IPO on the London Stock Exchange in 2006 Bank of Georgia has been well known in the CEE investor community for its transparent corporate governance and proactive investor relations. Before Bank of Georgia Mr. Enukidze worked as Managing Director Corporate Finance at Concorde Capital, a leading Ukrainian investment bank. Prior to Concorde Capital Mr. Enukidze spent seven years at ABN AMRO Corporate Finance in Moscow and London. Mr. Enukidze holds degree in physics from Tbilisi State University and MBA from University of Maryland.