OREANDA-NEWS. On 28 May 2008 XXI Century Investments Public Limited announced the pricing of its issue of US\\$150 million Guaranteed Secured Notes due 2011 ("the 'Notes") with 1,500 warrants attached, each warrant giving the right to subscribe for 4,000 Ordinary Shares of the Company ("the Warrants").

The Notes are to be issued at their face value and will carry a coupon of 7% per annum pro rata until 25 August 2008 and 14% per annum thereafter.  The gross proceeds received as a result of the issue will be held in an escrow account until 25 August 2008.

The exercise price per Ordinary Share in respect of each Warrant will be determined as the average volume-weighted trading price per Ordinary Share for the period from the closing date of the issue (expected to be 23 May 2008) up to, but excluding, 12 August 2008, subject to certain adjustments set out in the offering document. The Warrants can be exercised from 26 August 2008 until the close of business on 23 May 2011.

On 25 August 2008, investors may put their Notes with attached Warrants back to XXI Century for redemption at par from the escrow account. If the Notes with attached Warrants are redeemed on that date, the attached Warrants will be cancelled.  Any proceeds remaining in the escrow account, after the retention of an amount sufficient to cover the first two coupon payments on any outstanding Notes, will then be forwarded to the Company.

Application has been made to admit the Notes and the Warrants to the official list of the Luxembourg Stock Exchange and to admit the Notes and the Warrants to trading on the Luxembourg Stock Exchange's Euro MTF Market.

ING is acting as sole manager and bookrunner to the Company.