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«Mint Capital» has invested in «Maratex Ltd.»

Press Release
1st June 2006

Nordic Private Equity Fund «Mint Capital» has invested in «Maratex Ltd.», the holder of exclusive retail franchises for several international fashion brands in Russia, the Ukraine and Kazakhstan, including «Esprit», one of the leading global apparel brands. The USD 6.1 million invested will be used for expansion of the Company's retail network which currently consists of 33 stores — 25 in Russia and 8 in the Ukraine.

«Maratex Ltd.» was created in 2006 by combining «Baza Ltd.», the Ukrainian company that has been the exclusive operator of «Esprit» stores in the Ukraine since 2002, with «BTI Systems», the Russian exclusive franchisee of «Esprit» stores since 2004. «Maratex» also holds exclusive rights to operate retail stores for the UK value fashion brand «Peacocks» in Russia and the Ukraine, for the French brand «Lulu Castagnette» in Russia and Kazakhstan, and the «Inwear» and «Matinique» brands in Kazakhstan. The Company currently operates 18 «Esprit» stores, 8 «Peacocks» stores, 7 «Lulu Castagnette» stores and plans to open its first «Inwear/Matinique» store this year.

«Mint Capital» was founded in 2001 to make private equity investments in entrepreneurial companies in Russia and the CIS. Mint Capital invests in «Maratex Ltd.» from its second $130M fund, raised in 2005 from primarily Nordic investors. Mint Capital focuses on expansion stage investments in rapidly growing companies with USD 10-100 million revenues in a wide range of industries. Other Mint investments include «Elecsnet», «Gameland», «ABBYY», and «2V Studios».

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