OREANDA-NEWS. August 2, 2010. MIRAX GROUP Corporation made public a substantial fact about a change in the Group's structure and acquisition by the MG Group of 49.14% of shares of AVANTA LLC. The transaction was made within the framework of preparation for restructuring the public debt liabilities of MIRAX GROUP. AVANTA LLC holds the rights to the development of the Fili-Davydkovo residential community and is a real asset the value of which was confirmed by a leading international auditing company.

This step will lead to a greater transparency of the company for investors. Under conditions of a limited access to financial resources, MIRAX GROUP makes every effort to form a high quality investment security and attract funds for financing its projects. The revenues from them will be funneled to servicing the company's obligations to the investors.