Bulland Investments would like to notify its shareholders that the 2006 dividen payment will start on 01 August 2007. The payments will be made through Centralen Depositar AD and will be sent to the accounts of the investment intermediaries of the holders of the shares.

Bulland Investments would like to notify its shareholders and investors that it has submitted its quarterly financial report (as of 30 June 2007) to the Financial Supervision Commision on 30 July 2007. The financial report is available at 56 Vitosha Blvd., Sofia from 10:00 to 16:00 every working day, as well as at www.bulland.org.

The following decisions were made at the annual shareholders meeting on 29 June 2007:

• The shareholders approve the activities report for 2006;
• The shareholders approve the 2006 annual financial report ;
• The shareholders approve the specialized auditing company report for its work on the 2006 annual financial report;
• Choice of a registered auditor;
• The shareholders approve the investor relations director report;
• The shareholders dismiss the members of the Board of Directors for their work throughout 2006;
• Changes in the by-laws of the company
• The company will distribute its gross dividend of 0,00436 BGN per share for 2006
• The company will not distribute 429 405.14 BGN of the profit;
• The address of the company is changed to 56 Vitosha Blvd., Sofia;

Only those that have registered at Centralen Depositar AD up to 14 days after the date of the annual shareholders meeting (i.e. up to 13 July 2007) are eligible for dividends. The last date for transactions with shares of the company on the stock exchange which give the holder a dividend right is 11 July 2007.

The Board of Directors of Bulland Investments, based on Article 223, Paragraph 1 of TZ, would like to invite its shareholders at the annual shareholders meeting, which will be held on 15 June 2007 at 11:00. The address of the meeting is 56 Vitosha Blvd., Sofia. The agenda is as follows:

1. Approval of the annual accounting report, activities report, registered auditor report and the report of the investor relations director for 2006. Draft of the decision: The shareholders approve the accounting report, the activities report, the registered auditor report and the report of the investor relations director for 2006.
2. Approval of the decision for the 2006 profit distribution. Draft of the decision: The accounting profit of 453 255 BGN will be distributed as follows:
   • 23 849,86 BGN for dividends (this sum represents 100% of the transformed financial results as stated in Article 10, Paragraph 3 of the Special Investment Purpose Companies Act, which must be distributed as dividends)
   • 429 405, 14 BGN will not be distributed
3. Dismissal of the members of the Board of Directors for their activities throughout 2006. Draft of the decision: The shareholders dismiss the members of the Board of Directors for their activities throughout 2006.
4. Approval of the decision for a change in the address of the company. Draft of the proposal: The shareholders change the address of the company to 56 Vitorsha Blvd., Triaditsa Municipality, Sofia.
5. Approval of the decision for a change in the by-laws of the company. Draft of the decision: The shareholders approve the proposal of the Board of Directors to change the by-laws of the company that are related to the change of the address and change of the capital.
6. Choice of a registered auditor for 2008. Draft of the decision: The shareholders choose as a registered auditor for 2008 Stoiyanka Yordanova Apostolova from BDO Akero Ltd, registration number 016.

The materials for the shareholders meeting are available every working day from 10:00 to 16:00 at the office of the company - 56 Vitosha Blvd., Sofia. All shareholders are invited to personally attend the meeting or send their representatives at it (as stated in Article 116 of the Public Offering of Securities Act). Only the shareholders that have acquired shares up to and including 1 June 2007 are eligible voters. The list of those voters will be provided by Centralen Depositar AD. If the minimum number of people are not present at the meeting, in accordance with Article 227, Paragraph 3 of TZ, the annual shareholders meeting will be held at 11:00 on 29 June 2007 at the same place. It will have the same agenda, no matter how many shares are represented at the meeting.

Bulland Investments would like to notify its shareholders and investors that it has submitted its quarterly financial report (as of 31 March 2007) to the Financial Supervision Commision on 27 April 2008. The financial report is available at 56 Vitosha Blvd., Sofia from 10:00 to 16:00 every working day, as well as at www.bulland.org.