WHY INVEST IN BULGARIA

Macroeconomic stability:

• Political and economic stability
• Sustained GDP growth of 4.7-4.9 % per year
• NATO membership achieved in 2004
• EU membership achieved in 2007
• Very competitive labor cost compared to the rest of Europe
• Very competitive tax regime - 15% corporate profit tax as of 1 January 2005
• Well educated, highly trained English speaking workforce
• Strategic geographic location
• Full national treatment of foreign investment

Top tourist destination:

• Bulgaria voted No. 4 tourist destination worldwide by The Washington Post
• 22% average annual growth of tourist arrivals for 2002 – 2004
• 43% year-on-year increase in British tourists for 2003
• Well developed and constantly improving summer resorts
• Excellent skiing opportunities with guaranteed winter snowfall
• Unbeatable prices guaranteeing best value for money holidays
• 1600 thermal mineral water springs
• Rich historical and cultural heritage
• Easy access from Europe

Booming real estate sector:

• 25% price growth in the last 12 months
• Still lowest real estate prices in Europe
• Strong year round corporate letting market in Sofia
• Dramatic increase in demand for quality accommodation at Bulgarian resorts
• Strong drive for property purchase from Bulgarians living abroad
• Bulgaria on the agenda of top European real estate investment funds