June 28, 2006

DT&T has been appointed by HVB Biochim Sofia and TBI Invest to assist them in structuring and implementing the pioneer asset-backed securities issue in Bulgaria.

The first Bulgarian ABS project just launched is contemplated as EUR 10 million floating rate notes issued by a SPV for securitization of non-bank credits. The ABS tranches will be tailored to meet local and international investors’ demand.

DT&T provides the overall legal advice for the deal and is in charge of the prospectus drafting. After having the prospectus approved by the Bulgarian Financial Supervision Commission the notes will be listed at the Bulgarian Stock Exchange.