At a session held on October 19, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:

1. The Commission confirmed a prospectus for secondary public offering of an issue of naked corporate debentures, issued by UBB AD, Sofia City. The issue is to the amount of BGN 80,000,000, distributed into 80,000 pieces of debentures, having a nominal value of BGN 1,000 each, a 36-month maturity, maturity date: July 15, 2008, annual interest rate to the amount of 3.55%, and interest payments every six months.

2. The Commission imposed a temporary prohibition on a tender offer submitted by Energoremont Holding JSC for the purchase of shares of Energoremont Russe AD from the company’s other shareholders through First Financial Brokerage House Ltd. Investment Intermediary.