SALANS ADVISES FRENCH COMPANY AXA IN ACQUISITION
OF MAJORITY STAKE IN THE SHARE CAPITAL OF VESKO
Salans, Kyiv, Ukraine, August 9, 2007

KYIV - Salans has recently advised AXA, a French based international
insurance group, in the acquisition of the majority stake in the share
capital of Vesko.

AXA, which is one of the largest insurance groups in the world, and its
partner in this transaction UkrSibBank, the Ukrainian banking subsidiary of
BNP Paribas, have reached end of July an agreement to acquire 99% of the
share capital of Vesko.

The transaction, which is still subject to regulatory approvals, is expected
to be completed by the end of 2007.

Vesko is the 6th largest P&C insurer in Ukraine.  Following acquisition of
Ukrainian Insurance Alliance and Vesko, AXA will be one of the key players
on the insurance market in Ukraine.

A team of lawyers in various Salans offices led by Igor Mehedynyuk and
Oleg Batyuk from the Salans Kyiv office, represented AXA in this transaction.

Salans is a full services international law firm with 18 offices worldwide
advising its clients across a wide range of industries www.salans.com.
Salans was established in Paris in 1978 and has been active in Ukraine since
1988 and officially opened an office in Kyiv in 1992.

Salans is ranked among the top 50 law firms in the world by PLC Which
Lawyer?.  In 2007 Salans was shortlisted to win "The International Law Firm
of the Year" from The Lawyer.  Salans is ranked as a top tier law firm in
Ukraine and globally by the leading international legal directory The
Chambers.

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NOTE:  Salans in October celebrated the 15th anniversary of their office in Kyiv, Ukraine,