White Mountain Property

Business News

• State-owned energy distributor Transelectrica will invest €18.1 million in connecting the thermal power plant located in Brazi, Prahova County to the national energy grid.

• Medias’ city council will invest €16 million in the rehabilitation of the city’s water system. The works are set to be finalised by October 2012.

• Spanish processed meats manufacturer Campofrio invested €12.3 million in acquiring an additional 18% share (for a 49% total) in Lebanese foods producer Caroli Foods Group.

• Romanian electrical automation company Electromagnetica will invest an estimated €10 million in the construction of a new micro-hydro power plant and in modernising one of its electrical energy production units located in Suceava County.

• Bucharest’s Streets Administration will invest €6.5 million in installing safety systems and speed limiters throughout Bucharest.

• German clothing and accessories retailer New Yorker will invest an estimated €3 million in opening three new stores in 2010, which is part of a larger €6 million investment in network expansion (in addition to the three stores it’s already opened this year in Arad, Timisoara, and Bucharest).

• Italian porcelain manufacturer Apulum Alba Iulia will invest an estimated €2 million in 2010 in modernising its factory, increasing its production capacity by up to 50%.

• Belgian retail company Delhaize Le Lion Group will invest an estimated €1 million in opening a new Red Market discount store in Constanta. This will be the fifth store in its network and the first outside Bucharest.

Real Estate

• Romanian real estate developer Imopost Developments together with the Romanian Postal Service will invest an estimated €30-40 million in the construction of a 12-14 storey office building in central Bucharest.

• Romanian businessperson Emil Morariu invested an estimated €4 million in the construction of a new three-star hotel in Targu Mures, Mures County.

• Romanian businessperson Culita Tarata invested €4 million in the construction of a four-star, 50-room hotel in Durau resort, Neamt County.

Exchange Rates

The National Bank of Romania (http://www.bnr.ro/) exchange rates as of April 12, 2010:

                                                1 EUR =    4.1308 RON
                                                1 USD =    3.0845 RON