Dragon — Ukrainian Properties & Development plc.

The Board comprises directors with extensive experience in property investment, development and management, as well as investment, company law and administration.

To this end, the Board has established an audit committee. The audit committee is responsible for ensuring that the financial performance of the Group is properly monitored, controlled and reported on. The committee will also meet the auditors and review reports from the auditors relating to the Company's accounts and internal control systems. The audit committee will be chaired by Mr. Svinhufvud and consist of Mr. Svinhufvud and Mr. van der Heijden. It will meet whenever there is business to discuss and at least twice each year.

	Aloysius Wilhelmus Johannes van der Heijden Born 11 March 1949 Non Executive Chairman Mr. van der Heijden has worked in the real estate industry for 29 years, a large part of which he spent as a General Director of Beheer Brouwershoff Amsterdam B.V., a private investment company of Drs. C. van Zadelhoff with a core business in capital investment, predominantly in real estate and also commercial real estate brokerage and advisory services. Currently, he is a non-executive partner of DTZ Zadelhoff (The Netherlands), Supervisory Board member of DTZ Zadelhoff Tie Leung Central & Eastern Europe and N.V. "Het Havengebouw".

	Fredrik Svinhufvud Born 1 February 1955 Non Executive Director Fredrik Svinhufvud is currently managing director of Malka Oil AB, a Swedish oil company concentrating on oil and gas production in western Siberia in Russia. Previously he was managing director of Tetra Pak Ukraine for six years until February 2007. Fredrik started in Ukraine as Tetra Pak factory manager in 1995 and was then appointed managing director in 2001. Additionally, he has held several international positions within the oil field services industry, initially with Schlumberger Ltd in South America, Atlas Copco in North America and the Geco Well Services in the North Sea. Later he held positions within sales and marketing in the agriculture supply industry (Trelleborg AB). In March 2006 Fredrik was elected the President of the European Business Association in Ukraine.

	Tomas Fiala Born 13 May 1974 Non Executive Director Mr. Fiala has been the principal shareholder and managing director of Dragon Capital Group, a Kyiv-based investment bank, since April 2000. Mr. Fiala established Dragon Capital as a brokerage and has since grown it into a leading Ukrainian investment house specialising in brokerage, investment banking, securities trading, asset management and private equity investments. Prior to establishing Dragon Capital, Mr. Fiala served as senior executive for five years at Wood & Company, a leading investment bank in the Central Eastern Europe region. Mr. Fiala is currently serving as chairman of the supervisory board of Karlivka Machine-building Plant, Ukraine''s leading agricultural equipment producer. He is also a member of the Supervisory Board of Nova Liniya, the largest DIY supermarket chain in Ukraine, Cantik Enterprises Limited, a Ukrainian retail real estate development company, Retail Group, one of the largest food retailers in Ukraine, Ukrinbank as well as KP Media, a leading Ukrainian media holding.

	Rory Macnamara Born 2 January 1955 Non Executive Director Rory Macnamara qualified as an ACA with Price Waterhouse before joining Morgan Grenfell, later Deutsche Morgan Grenfell, in 1981 as an investment banker. Over the following seventeen years he advised clients on a wide range of corporate finance and M&A issues and became Head of the Advisory/M&A division in 1995 and Deputy Chairman the following year. In 1999 Rory joined Lehman Brothers as Head of UK Coverage and led teams advising a number of major UK and international clients. In 2001 he became an independent consultant working with Lehman Brothers on M&A projects and with other companies on their business development and financial and acquisition strategies. Besides this extensive corporate finance experience he also brings a significant understanding of public company management and shareholder value enhancement from the many boards he has joined and led over the past 10 years.