1. Press-conference
4 April 2006

2. REVIEW History Articles of Association Aims Members of BAL
Leasing market during year 2005.
Market survey of BAL for “new business”-2005.
Leasing penetration in the economy of Bulgaria and Europe.
Focus 2006(facing the law in the country)

3. History of the merger
July the members of the two associations has discussed the idea of themerger on a meeting held between them.
January meeting between the Board members of BARLB and BALC and signing a Memorandum of the merger
June - September during Board meetings of the two associations, unanimously were approved the Board members and the Articles of the united Association /BAL/
July opening of the office of BAL and welcoming the first employee.
13 February Sofia City Court has announced the decision of merger and signed BAL in the regisrty of the juridical non-profit companies.

4. Articles of the Association
The Association is non-profit organisation, represented by two co- chairmen.
Protects the interests of all leasing companies.
Represents and protects the interests of the members of the Association in front of the public authorities.
Promotes a standing on the leasing market based on the fair competition.
Speeds up the introduction of the European standards and norms at the leasing market.

5. Aims
Improving of the Bulgarian commercial and tax legislation concerning the leasing activities;
Improving of the competitiveness of the Bulgarian leasing industry;
Promoting of fair competition practices on the Bulgarian leasing market;
Collecting and publishing of quantitative data on the Bulgarian leasing market;
Increasing of the awareness of the Bulgarian business community and consumers on issues related to leasing products and activities;

6. Members of BAL

7. ИТА Лизинг ООД
Б.Л. Лизинг ООД

8. Leasing market 2005
“New business”-data from market survey of BAL for 2005
Leasing penetration in the economy

9. Leasing market size,determined by outstanding net lease receivables for the period (thousand levs)
*Data from market survey of BNB and BAL

10. “New business” financial leasing
*Acquisition cost
** Data from 24 companies- survey of BAL

11. Share of machinery and industrial equipment in the part ”new business” - international comparison
Sources: Data from market survey of Leaseurope for 2004, as the data for Romania is corrected in correspondense with the summarized data from both Associations.

12. “New business” operational leasing
* Acquisition cost
** Data from 24 companies-market survey of BAL

13. Leasing penetration ratio
Source: BAL for New bisuness, NSI for Investments
The leasing penetration ratio is defined as of New Business towards General Investments

14. Ratio of leasing penetration- international comparison
Sources: Data from market survey of Leaseurope for 2004, as the data for Romania is corrected in correspondense with the summarized data from both Associations.

15. Proportion of net lease receivables towards GDP
Sources: Market survey of BNB, BAL and data from NSI

16. Proportion of net lease receivables towards GDP- international comparison
Sources: Data from market survey of Leaseurope for 2004, as the data for Romania is corrected in correspondense with the summarized data from both Associations.

17. Share of machinery and industrial equipment in the sector”new business” - international comparison
Sources: Data from market survey of Leaseurope for 2004, as the data for Romania is corrected in correspondense with the summarized data from both Associations.

18. FOCUS 2006
Review of the law regulation in the country related to the leasing business

19. VAT act draft for 2007 with included proposals of BAL
Definition of supply - art.6, par.2
Reservation of the regime regarding the tax assets of financial leasing for deliveries, accomplished before the law was effective- art.25, par.2 (1).
Right of full tax credit for deliveries of goods, given in the conditions of financial leasing contract -art.69, par.2
Exemption the tax base of duties and insurances of goods, regarding financial leasing contracts -art. 26, par.3

20. Consumer Credit Act draft
Accomplished missions - precised definitions, reasonable degree of protection of the consumer when the contact was ceased.
Current process of changing - cancellationof the prohibition regarding the securutization of the consumer credit with instruments and promissory notes.

21. Further goals
Changes of the Civil Law
Law for the Corporate Taxes