December 30, 2006

The significantly increased assets and business broadened after a successful merger enhanced the position of the Bulgarian principal river cargo company in the coming 2007

The Bulgarian River Shipping Company AD (the “River Carrier”), established in 1935, is the national cargo river company accounting for approximately a quarter of all Danube cargoes from and toward Bulgaria and is one of the most respected shipowners along the Danube river.

In late December 2006 the merger of the River Carrier, advised by DT&T, was entered in the commercial court register. The River Carrier has acquired via the merger with Chimimport Bimas OOD buildings, land and equipment for fuel and oil processing and storage, located in Russe on the Danube. Also, by means of the River Carrier becomes a major shareholder in a company for tugboat services in Varna region and other Bulgarian Black Sea ports, as well as in a machine-building company.