GTC wins SEE Developer of the Year Award. The Company begins activity in Bulgaria

Globe Trade Centre S.A. (GTC) was voted the Best Developer of 2005 in the Europaproperty SEE Real Estate Awards. GTC has also begun activity in its eighth country in the region – Bulgaria.

The SEE Developer of the Year 2005 title was awarded to GTC by the jury of prominent real estate professionals, in recognition of GTC’s achievements in Romania, Croatia and Serbia. In these countries GTC is involved in projects comprising of a total of some 500,000 sqm of commercial and residential space. In 2005 GTC completed and fully let two A-class office buildings: America House in Bucharest (27,000 sqm NRA) and GTC House in Belgrade (13,500 sqm NRA).

Bulgaria is the next country where GTC has started its real estate activity, becoming the eighth market in GTC’s portfolio, in addition to Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia and Slovakia.

GTC will start its activity in Bulgaria with an office-retail development in Sofia. The Company has signed an agreement to acquire 3,800 sqm. of land in an attractive district within Bulgaria’s capital, in proximity to the American Embassy. The acquisition price is EUR 2.4m. The current planning conditions allow GTC to develop at least 11,600 sqm. of net office and retail space on the site. Construction is scheduled to commence in the first quarter of 2007.