OREANDA-NEWS. September 03, 2008. State Commission for conducting tenders on the sale of the state assets to the foreign investors based on the Resolution of the President of the Republic of Uzbekistan №PP-672 dated July 20, 2007 announced the open tender for privatization sale of 99% share of Uzbek – Turkish joint venture limited liability company “Tashkent Palace”, reported the press-centre of State Commission for conducting tenders.

99% shares of JV LLC "Tashkent Palace" being offered for sale. Starting bidding price for the said shares is 37 000 000 (thirty seven million) US Dollars. The volume of investment obligation is 17 163 400 (seventy million one hundred sixty three thousand four hundred) US Dollars, which will be directed for payment of debts of the JV LLC "Tashkent Palace". At that, the preference will be given to the tender participant offered the highest bid for 99% of shares of the Company and the highest volume of investment obligations.

The Hotel was built in 1958 and situated at the center of the capital, on the opposite of the hotel there is opera and ballet theatre named after Alisher Navoi, from the right side there is a Central department store of city and from the left side the History museum of Uzbekistan. During 2002-2003 the Hotel was reconstructed and on May of 2003 it was put into operation. The Hotel was awarded "4-stars" category.

Building consists of 6 floors and basement where situated administration of the company. 1-5 floors of hotel consist of 232 rooms including deluxe king room - 149, deluxe twin room - 39, superior king room - 29, junior suit - 8, executive room - 5, executive suit -2 and there are three restaurants, one of them located on the 6th floor (1 - winter, 2 - flight), 2 bars, healthy club (trainer room, open swimming pool, massage room), 3 rooms for carrying out business meetings and conference, as well as business center, barber shop, currency exchange office.

Investors interested in participating in the tender shall first submit a properly completed and signed Application for participation and Confidentiality Statement.

The Tender Documentation package including Information Memorandum, Tender Rules, Bid Form can be obtained upon payment made for it, by presenting to Case-by-Case Privatization Bureau the completed and signed Application and Confidentiality Statement together with a copy of the document confirming the payment effected.

The price of the package of bidding documents constitutes 2000 (two thousand) US Dollars, which are to be transferred to either of the accounts stated below:

USD Account № 20203840500600289001

UZS Account  № 20203000600600289001

In the JICB "Ipak Yoli"

TIN 201122696, bank code 00444

S.W.I.F.T. код: INIPUZ22

The Bid submission deadline expires at 12:00 a.m. Tashkent time on October 28, 2008.

Opening of the packages with Tender Bids will be held in the Meeting Hall of the State Property Committee of the Republic of Uzbekistan (5th floor) at 16:00 p.m. Tashkent time on October 28, 2008.

Tender participants or their authorized representatives, which have submitted Tender Bids in accordance with established procedures, have the right to participate at the opening of the packages with tenders Bids.

For all issues related to the tender, please contact:

CCPB, Case-by-Case Privatization Bureau

State Property Committee Bldg., 17th Floor

Uzbekistan Ave., 55, 100003 Tashkent, Uzbekistan

Attention: Mr. Akhmedjanov Khalil Khakimjanovich

Telephone: +998 (71) 259 22 51

Fax: +998 (71) 259 22 79

E-mail: ccpbuz@tps.uz