OREANDA-NEWS. March 10, 2010. XXI Century (AIM: XXIC), one of Ukraine's leading real estate investment, development and property management companies, announced that the Company has entered into an agreement to sell its interest in three non-core projects (the "Projects") for a total consideration of USD 2.0 million (the "Consideration") to a local developer. USD 1.0 million of the Consideration was received in March 2010 and the remaining USD 1.0 million is due to be received by the end of May 2010.

The Projects consist of the Odesa logistics complex, the Vasylkiv logistics complex and the Kvadrat-Donetsk Leninskiy property.

The sale of the Projects, and particularly the logistics properties, reflects the Company's decision, announced last year, to exit the logistics business and focus on its key strengths of developing retail space and high end residential properties, primarily in Kyiv. The sale price achieved compares favourably to the discount to NAV reflected in the Company's current market capitalisation.

The Company intends to use the proceeds to maintain its operational liquidity.

There will be a conference call for investors and analysts at 1:00pm UK time / 3:00pm Kyiv time on Thursday, 11 March 2010.