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``Investing Profitably in Bulgaria via Cyprus' Thursday, April 10, 2008 Seminar 5:30 - 8:00 pm at the Harvard Club, New York City

(Business Wire EON) March 18, 2008 -- Who: The Cyprus Trade Center is organizing the event in cooperation with The Bulgarian Consulate Trade Office, Bingham McCutchen LLP, Ernst & Young, MM Consult Ltd, Seward Ltd., and The Repton Group LLC. The panel discussion will be co-hosted by The Rafael Group, one of the leading investment groups in Bulgaria.

What: The panel discussion will provide a solid briefing on the benefits of investments in Bulgaria, the use of Cyprus as a location for financial holding companies vis-a-vis Bulgaria, and will also discuss legal, economic and tax developments of importance. It will include the topics:

-- Cyprus tax treaty developments

-- Investment opportunities in Bulgaria

-- Investing in Bulgaria via Cyprus

-- Formation and administration of investment funds in Cyprus and Bulgaria

Why Cyprus: As one of Europe's most advanced economies, Cyprus has become Europe's leading corporate holding jurisdictions due to its advantageous corporate tax system which includes a flat 10% corporate tax rate and no withholding tax and its extensive and favorable double tax treaties with over 40 countries.

Situated at the hub of three continents, Cyprus links Europe with the Middle East and Asia. It is the gateway for American corporations conducting business in the Balkans, Russia and the Middle East, With 78% of its economy comprised of the services sector, Cyprus has a state of the art technological, financial and legal infrastructure and a significant investment in intellectual property, which benefits American companies establishing operations there. See www.investincyprus.gov.cy for additional investor information.

Why Bulgaria: As one of the newest member states of the European Union, located at the strategic crossroads of Europe and Asia Bulgaria holds a unique economic and investment position.

Bulgaria is the largest recipient of foreign direct investment (FDI) per capita in the Balkans region, with a dramatic increase in the last couple of years. Currently considered one of the most rapidly progressing countries in Europe, Bulgaria's leading investment vehicles include:

-- Energy (nuclear, thermal, strategic pipelines, renewables)

-- Agriculture

-- Real estate

-- Infrastructure projects

-- Telecommunications

Since its accession to the European Union, International and in particular U.S. investments in Bulgaria have increased at a soaring rate.

A list of speakers is available on request. General inquiries from journalists covering direct foreign investments in Cyprus & Bulgaria are welcomed.

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