International Financial Corporation Supports Moldovan Agrobusiness Sector

Washington DC

Irina Likhachova

Phone: +1 202 473-1813

Email: ilikhachova@ifc.org

Chisinau, April 21, 2008– The International Finance Corporation, the private sector arm of the World Bank Group, entered into an agreement to provide US$10 million in debt and equity to Bostavan Wineries Limited (“BWL” or “the Company”), a leading wine producer in Moldova. IFC’s financing will support the Company’s investment program to upgrade product quality and raise safety standards, diversify its destination markets and restructure its balance sheet. This investment is also an extension of IFC’s partnership with an existing client, Detroit Investments (“DI”) with whom IFC has had a successful partnership. Earlier in 2008, DI also became a shareholder in the BWL.

“IFC’s support for BWL will ensure the sustainability of income for the 1500 farmers and its employees who supply BWL and bring significant benefits to the rural communities where it operates.” said Vipul Prakash Manager of IFC’s Agribusiness Department.

“The agribusiness sector is an important sector for Moldova. The investment will support the revival of a mid-size private company and will have strong demonstration effect on this sector.” said Ana Maria Mihaescu , IFC Chief of Mission.

Mr. Victor Bostan, Chairman and CEO of BWL noted, “The financing from IFC is very important. It will strengthen our financial position and will enable us to fully develop into a top quality competitive regional producer.”

“Detroit Investments is pleased to have IFC’s support and to co-invest with IFC in our first investment in Moldova. We look forward to further cooperation and to IFC’s long-term support in DI’s future projects.” said Mr. Nicholas Henderson-Stewart, CEO of DI.

About Bostavan Wineries Limited

Bostavan Wineries Limited, based in Chisinau of Moldova, is mainly engaged in the production, distribution and export of grape wines. It has three wineries in Moldova and also a smaller winery in Romania. BWL products are exported to over 25 countries.

About IFC

IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.