АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71) Analytical Center «AVESTA RESEARCH»

Areas of activities  Avesta Research – this research unit "Avesta Investment Group“ CJSC, which is leading investment consulting company in the market of Uzbekistan;  Avesta Research – conducts research on marketing and sectoral studies, that identifies investment opportunities and helps in making strategic, tactical and operational decisions  Avesta Research – provides periodical reviews of markets and preparing professional business analysis. АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

The main areas of activities Uzbekistan Daily Monitoring content of mass media Preparation of sectoral reviews Monitoring of real estate market Marketing research of mass media Uzbekistan Focus АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

The main areas of activities «AVESTA INVESTMENT GROUP» CJSC The main areas of activities Structuring and distribution of emissions Depositary and registration services Funding, currency and primary markets Analysis and rating of issuer on securities Marketing research, branch and enterprises Support of secondary conversion, and brokerage services АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

Attention on clientCommanding spirit Vitality Creation of quality and effectiveness Deep Knowledge Innovation and creative approach Professionalism Decency Approaches of AC «Avesta Researh» АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

The main areas of activities Marketing Research Quantitative and Qualitative research – analysis of quantitative indicators of markets, depth polling of buying intentions, motivations on choosing goods and services, attitudes to targeted groups of consumers. Auditing of retail sales – the regular research on price, range, stocks, sales, advertising materials available for each category of product research Development of marketing plan – on the basis of analysis of markets and marketing strategies of the companies, development of specific plan on entering to the market or increasing its own share АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

The main areas of activities Informational Support of the business Uzbekistan Daily – Daily news editions of the most pressing developments in economic and business life of the country. Uzbekistan Focus – Monthly review on most important events in economic and business life of the country. Monitoring of the content SME –Tracking the news in print and electronically of SME on the topics that clients interested in. АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

The main areas of activities Business Analysis Preparation of sectoral reviews –analysis of the various sectors of Uzbekistan’s economy for local and foreign investors. Monitoring of real estate markets – tracking, analysis and identification of trends in the development real estate market of Tashkent city. Development of recommendations for the commission of operations with real estate. Marketing Research of SME – revealing the popularity of various advertising media, development of media strategies for the advertiser. АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

Largest projects and our clients EnterprisesName of the projectPeriodCustomers TelecommunicationsMarketing research on cellular communication in Uzbekistan «Uzdunrobita» FC (cellular system) Food manufacturing industry Market of closing materials for the production of vodka January– February in 2006 Enterprises on production of packing materials Advertisement, SME Media preference of citizen of Tashkent city February in 2006 «Unitel» FC(OJSC «Vimpelcom» Food manufacturing industry Market of beer in Uzbekistan July-August in «Bаltica» OJSC Market of milk productionSeptember in «Wimm Bill Dan» FC Automobile industryAutomobile markets in Uzbekistan September in «Hankook Research», Marketing Agency. South Korea ConstructionReal Estate market in Tashkent June 2006 – May 2007 «Avesta Investment Group». CJSC

Advantages of working with AC «Avesta Research» Attention to clients. Deep Analysis. Deep Analysis. Wide range of experts. Coverage of all regions of Uzbekistan. Coverage of all regions of Uzbekistan. Tight schedules. Tight schedules. Concrete recommendations. Concrete recommendations. АC «Avesta Research» A. Navoi str. 36, Tashkent, tel (71) , tel./fax: +998 (71)

Contacts Analytical Center «Avesta Research» Address: 36, A. Navoi str., Tashkent, Uzbekistan Rano Khalmuradova; Director of marketing research department: Rano Khalmuradova; Head of the department of analysis of sectorial markets: Karen Srapionov Avaz Merganov Head of the department of informational support of business: Avaz Merganov Mixail Shnayder. International Consultant AC «Avesta Research»: Mixail Shnayder. Tel: +998 (71) , Tеl/Fax: +998 (71) Web: