Moscow, Russia 22 JAN 2009 (SEPMC.COM) -- South Eastern Projects Management Company Limited (SEPMC) today signed the agreement to purchase majority stake three working sand mines strategically located to supply State company Olympstroy (Sochi city), Rusian 2014 Olympic games construction site.

The deal covers three properties licensed to three different companies in Krasnodarsky Krai, Russia, capable to produce and deliver the required sand for the 2014 Olympic construction.

The acquisition, following earlier acquisition of Gorniak crushed stone mine strenghtens the SEPMC’s strategy to expand its construction portfolio with stable performing crisis-proof assets. The transaction is expected to be completed by the end of Q1 2009.

SEPMC was represented by Smirnov, Davydov and Susskind on this transaction.

SEPMC is a global diversified company with assets in chemical and farmaceutical manufacturing, general construction and civil engineering. For more information, visit www.sepmc.com.

Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of the safe harbor provisions of the federal securities laws. Actual results may differ materially due to risks and uncertainties. SEPMC undertakes no obligation to release publicly the results of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:

South Eastern Project Management Company Limited
Kirill Chashchin, Director
info@se-pmc.com