In Moscow a meeting between the Holding representatives and analysts took place at the MICEX.

On March 29, 2006, in Moscow a meeting between the “Etalon-LenSpetsSMU”-Holding representatives and banking analysts took place at the MICEX. During the meeting the financial director of the Holding spoke about the conditions and prospects of the real estate market in St. Petersburg, about signing the joint programs of hypothecary crediting with AKB “ROSBANK” and the North-western Bank of RF Sberbank, and about the strategies of the Holding development in the next 5 years. At the meeting the representatives of the international audit company, Horwath International, who took part in audit accounts of the group LenSpetsSMU under MSFA for 2003, 2004 and 2005 also were present. In their report the auditors, in particular, mentioned a high accuracy and clarity of the accounting in the holding. Special attention was paid to the signing of the contract for the hotel and spa-center sale being built by the holding on the Vasilievsky ostrov at the Rostral Columns complex. The investor for the contract is the English company London & Regional Properties, and Holiday Club (Finland) was elected managing company. Total amount of the contract made up 49 million euros.