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wet: Poecm'icm ewe-urn, rooster," Elkyximzxu.n ims maul" mitiwspasrou 
"mm-WW aniem Mutual", 105082,i- nrlvuenefimt no in

 

 

one Boa/37c 

Dear Sirs,

This is the letter referred to in Clause 9.1.2(d) ot' the Agreement lo the Acquisition of

Shares in PARASOL LIMITED made between SOLAR BREEZE
LIMITED OTHERS, (3) PARASOL

PARTICIPATIONS (4) Mr. Scot Gordon Youn Mr Ruslan Foniioliev_

 

We write to confirm. that since June 2006 a group of the police officers have, with the sanction
of the Public Prosecutor of the central administrative district of Moscow. been Inspecting and
continue to inspect 0A0 Spektr and 000 tdtesursinvest>> and 000 <> The grounds cfthe inspection were the information that this companies
and it's Directors broke the civil legislation of Russian Federation (economic crimes)

In addition, the Department oi Economic Crimes of Moscow Police and the Department of
Protection of the Environment of Moscow government and the city government of Moscow
believe lhal they may have claims against OAO Spekti and 000 <> and
000 <> concerning economic cniries of such companies

A month ago, the Department of Economic Crimes of Moscow Police started to inspect the
business activities of_ and his partners,

We confirm that there have been no documents served on CAD ektr and 000
> and 000 <>, or Mr Foinichev in
relation to any possible actions arsising from the above. but believe it is likely that such
documents will be served in the future in the event that--and Mt Foinieltev do not
dispose of their interests in the Property (as defined in the Agreement)

We funlier confirm that all actions mentioned above are ongoing and in our legal Will
have a material impact on the value of the Property (as defined in the Agreement).

Yours faithfully,

   

Mr. Andrey Misarov
Lawyer

Mr. Elrani Nazerov
Lawyer