KYIV, Ukraine, 2 Aug 2005 /PRNewswire/ - Concorde Capital (
and Colliers International ( have formed a strategic alliance
to launch a dedicated Ukrainian Real Estate fund, the "Colliers-Concorde
(Ukraine) Real Estate Fund". The fund, with 100 million USD in equity capital
and a targeted portfolio size of 200 million USD, will focus on development
projects in the office, retail, logistics and residential sectors of Ukraine's
real estate market.

The fund is being created to take advantage of the substantial
opportunities that currently exist in the real estate market of Ukraine, a
country undergoing significant economic and political transformation.

Concorde Capital, Ukraine's leading equity broker and provider of
investment banking services, through its affiliate asset management company,
Concorde Investors Limited, will serve as the management company for the fund.
Colliers International, a world leader in real estate consulting and
investment, will act as the fund's co-manager and property advisor.

In the opinion of Steven Cheshire, Partner of Concord Investors Limited:
"The timing of a fund like this could not be better. The combination of a
pro-business government, heightened foreign investor interest and a severe
shortage of quality property in most sectors of the Ukrainian real estate
market make this a perfect time for the Ukrainian market".

According to Oleg Myshkin, Partner at Colliers International, "The
consistent economic growth of the past several years, expected liberal reforms
and a high level of business activity, as well as the broad coverage that the
latest presidential elections in Ukraine received in the international mass
media, have determined the high appetite of international investors for
Ukrainian risk".

Speaking about the fund, Mr. Myshkin says "We believe that the fast
development of the banking system, as well as the entry of conservative
institutional investors with a core strategy of acquiring prime
income-producing properties will allow the fund to leverage returns on its
investment through project and permanent finance, as well as to exit from
completed projects".

Mr. Cheshire believes that by joining efforts the two companies will bring
to the Ukrainian Real Estate market the highest institutional quality standards
in real estate investment and management. "Drawn by the prospect of high yields
and considerable asset appreciation, we see large western investors almost
daily coming here to invest," -- says Cheshire. "But developers are not
offering a well-structured approach to building new premises -- the market is
so immature it eagerly accepts low-quality malls and office centers. To do a
first rate job, you need experienced professionals in the local market".

Speaking about partnership relations within new alliance, Mr. Cheshire
says: "We are extremely pleased to be working with Colliers International. They
bring significant resources and experience with their combined expertise from
both the Kiev and Moscow offices. The breadth of talent on Colliers team is
impressive and they have unique experience advising a large fund of this type".

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