OREANDA-NEWS. The Company announces that it is in discussions with Eurobank Cyprus Ltd ("EFG") in relation to extending the term of the c. USD 54 million loan with EFG for a further 12 months. The loan with EFG is secured against the Kvadrat Perova shopping centre and the land plots designated for the Kvadrat Simferopol project. The loan was restructured in December 2010, the term of the loan was prolonged till February 2013 and a revised schedule of repayments was adopted.

Should negotiations with EFG be successfully concluded, it is expected that the loan maturity will be extended to 28 February 2014.