OREANDA-NEWS  On 16 October TMM announced the results of the valuation of its real estate projects as of June 30, 2008. According to the valuation results, the value of 35 TMM's real estate projects amounts to 1.494 billion USD, which is 26 million USD more than the valuation of the company's real estate projects as of December 31, 2007.** The independent valuation of TMM's real estate projects as of June 30, 2008, was conducted by the international company CB Richard Ellis.

The portfolio of TMM's real estate projects as of June 30, 2008, includes objects located in Kyiv (14 objects) and the Kyiv region (4), Kharkiv (9), Zhytomyr (2), the Autonomous Republic of Crimea and the Kherson region (6). Eight objects within the portfolio have been put into operation, 10 objects are at the construction stage, and another 17 are under or held for development. The total area of all projects within the company's portfolio as of June 30, 2008, amounts to 3290 thousand square meters.

The following are TMM's most significant projects as of June 30, 2008, which show the highest increase in value according to the results of the valuation:

"Triumph" residential complex (Kyiv) - a residential premium-class property. The total area of this project is 67.9 thousand square meters. The complex consists of a separate 14-storeyed building and two 25-storeyed buildings connected at floors 17 through 19. The project envisages the consrtuction of a closed infrastructure for comfortable residents' living. The "Triumph" complex was commisioned in July, 2008. The market value of the project is 114.2 million USD *, which is 41.5 million USD more than the project's value as of December 31, 2007**.

"Sonyachna Brama" residential-office complex (Kyiv) - the business-class residential-office property is currently under construction. The total area of the project is 234 thousand square meters. The project envisages the construction of 14 residential and 2 office buildings with a complete closed infrastructure. In September 2008, TMM Company started the construction works of the final fourth stage. The market value of the project is 273.5 million USD *, which is 24.9 million USD more than the project's value as of December 31, 2007**.

The new TMM's project presented in the valuation as of June 30, 2008 is Business Center located at 5 Uborevycha St. (Kyiv). The total area of the project is 56,8 thousand square meters. The market value of the project is 31,2 million USD.*

TMM's further strategy envisages bringing the real estate projects currently at the construction and development stages into operation on time within the constrained parameters, while adhering to high standards of quality.