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J&T GROUP: BUSINESS STRUCTURE – KEY SEGMENTS OVERVIEW

J&T FINANCE GROUP – ASSETS BY SEGMENT

Banking Private banking Trading on financial

markets

BANKING

Energy Engineering Meat processing

CORPORATE INVESTMENTS

Multifunctional projects Hotels and tourism Office space Logistics and industrial

parks Residential projects

REAL ESTATE

Total assets (2006) SKK 89 bn (EUR 2.3 bn)

Equity (2006) SKK 14 bn (EUR 432 mn)

Air transportation Health care Sports Media

SERVICES

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REAL ESTATE: STRATEGY AND BASIC PARAMETERS

Investments in projects over the past 5 years: EUR 154 mn.

Investments planned for the next 5 years (projects under preparation): EUR 1.2 bn.

Total area developed over the past 5 years: 200,000 sq m

Area planned to be developed in the next 5 years: 500,000 sq m

PETER KORBAČKAPartner of the J&T GroupResponsible for Real Estate

DUŠAN PALCRPartner of the J&T GroupResponsible for Real Estate in the Czech Republic

Le Royal Méridien

Logistický park Trnava - PSA

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REAL ESTATE

Selected projects:

River Park (Bratislava)

Zuckermandel (Bratislava)

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Planned projects:

Rustonka (Prague)

Panorama City (Bratislava)

Tower City (Prague)

MULTIFUNCTIONAL PROJECTS

Selected projects:

Kempinski Hotel River Park (Bratislava)

Hotel Crowne Plaza (Bratislava)

Grand Hotel Kempinski (High Tatras)

Le Royal Meridien (Prague)

TLD (Tatra's Cableways)

HOTELS AND TOURISM

Selected projects:

Westend Business Park (Bratislava)

Tower 115 (Bratislava)

Prosek Point (Prague)

Javor (Prague)

OFFICE SPACE

Selected projects:

Trnava

Bratislava

Trenčín

Poznan

LOGISTICS AND INDUSTRIAL PARKS

Investments into completed real estate projects have exceeded EUR 345 million, and developed an area over 200,000 m2.

Hotels, tourist centres, new multifunctional city sections, industrial parks, luxury apartments – J&T is one of the largest developers in the territory of the former Czechoslovakia.

Current projects contributing to the development of the High Tatras region and the cities of Prague and Bratislava. Planned future entry into the Russian market and other countries of the former eastern bloc – an ambitious, but realistic, objective.

Selected projects:

Karloveské rameno (Bratislava)

Residence Jeseniova (Prague)

Residence Jeseniova II (Prague)

RESIDENTIAL PROJECTS

APARTMENTS | OFFICES | HOTEL | RESTAURANTS | RETAIL OUTLETS | RELAXATION

River Park, Bratislava• Overall floor space 150 000 m2

• Floor space above ground 110 000 m2

• Total office space 35 000 m2

• Total residential space 45 000 m2

• Total retail space 7 000 m2

• Hotel 23 000 m2

• Total number of parking places 1 100• Planned investment costs EUR 200 million• Completion date 2009

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The panorama of Bratislava will soon be enriched by a complexcalled River Park. The cornerstone of this ambitious project was laidon 30th May 2006 and is from the drawing board of world-renownedDutch architect Erick van Egeraat. This complex will revitalize anembankment that had been long-neglected whilst also removing thebarrier between town and river. This new feature of Bratislava willbecome the sought-after venue for business meetings, and will also bean attractive recreation zone for all Bratislava citizens. The individualzones will offer something for everybody – lucrative office space,a stunning business mall, and a five-star Kempinski Hotel completewith fitness suite. The complex will also include 176 luxuriousapartments and 32 exclusive suites, all with a view of the Danube.Consequently, visitors to the town will be able to engage in an array ofactivities and derive energy from the gently flowing river, all just a fewminutes from castle hill.

APARTMENTS | OFFICES | RESTAURANTS | RETAIL OUTLETS | PROMENADE | HOTEL

Zuckermandel, Bratislava• Total usable area 150 000 m2

• Purpose residential, office and retail space, hotel

• Planned investment costs EUR 180 million• Planned start of construction 2008

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The ancient settlement of Zuckermandel was located directly underCastle Rock. Developers J&T will present the urban project of a new,modern building complex that will extend the town centre and revitalizethe area under Bratislava castle.

This is a 21st century complex which respects and reflects all aspectsof the unique locality - it borders the historical old town, the Danubeembankment, and in the west connects with the River Park project.The project objective is to develop the settlement under the castle sothat it is a choice area for living, working and entertainment both forcurrent citizens and visitors and future generations. Visually attractiveand sensitively implemented, the Zuckermandel zone will have theopportunity to show that Bratislava offers opportunities for old andnew to coexist in full and mutually complementary symbiosis.

APARTMENTS | OFFICES | RESTAURANTS | RETAIL OUTLETS | PROMENADE | HOTEL

Panorama City, Bratislava• Total usable area 140 000 m2• Purpose residence, office, retail

stores, hotel• Total office space 10 000 m2• Total residential space 60 000 m2• Hotel 20 000 m2• Total number of parking places 2000• Planned investment costs EUR 220 million• Completion 2010

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The lucrative commercial and administrative zone around the newNational Theatre will house a new multifunctional centre witha unique view of the Bratislava panorama. The striking skylineof Panorama City is sure to become a new icon of the capital.

The Panorama City Project started with the reconstruction of Tower115, and will continue with the construction of a multifunctionalcomplex. The core of the concept is represented by an ellipsoid squarereminiscent of the traditional squares found in Bratislava old town.Restaurants and a four-star hotel will be situated on the outer areas,whilst the dominant feature of the whole complex will be two slimresidential towers. The 135 metres landmark towers will be the highestbuildings in either Slovakia or the Czech Republic. The towers’ profilewill complement the new skyline of the town and their triangular shapewill offer town visitors an unrivalled orientation point. The complex’sinhabitants will enjoy an uninterrupted view over the historical towncentre as well as the opposite bank of the Danube.

FOUR-STAR | HOTEL | BAR AND RESTAURANT | FITNESS | CASINO | SWIMMING POOL CONFERENCE AND CONGRESS FACILITIES

Hotel Crowne Plaza, Bratislava• Hotel operator Inter Continental Hotel Group• Capacity 209 rooms, 15 suites• Date of reconstruction completion 2005• Investment costs of reconstruction EUR 20 million

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The Hotel Crowne Plaza has a dominant standing among Bratislava hotels. Throughout its operation it has become the symbol of the highest quality hotel services. The hotel was extensively reconstructed in order to maintain high standards well into the future.

After the latest reconstruction this four-star hotel in the city centre (formerly the Hotel Forum) opposite the Presidential Palace offers visitors to Bratislava service of European standard. The comprehensive reconstruction cost EUR 20 million and was completed in 2005. All 209 rooms, 15 suites, congress rooms and other areas have been subject to updating and refurbishment. As a result modern European hotel Crowne Plaza is offering its services right in the centre of the city.

FIVE-STAR HOTEL | SWIMMING POOL | FITNESS SUITE | CONGRESS CENTRE BAR AND RESTAURANT

Kempinski Hotel River Park, Bratislava• Hotel operator Kempinski Hotels S.A.• Capacity 231 rooms• Date of completion of construction 2009• Investment costs EUR 50 million

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Kempinski Hotel & Resorts is the oldest luxury hotel network in Europe. It decided to enter the Slovak market with the first five-star hotel in Bratislava which will be part of the River Park project.

The luxurious hotel will be the dominant feature of the embankmentcomplex. Utilised materials will primarily include glass, metal, andwood in order to optimally reflect the aesthetic ideal of the river town.The role of water explored in its most diverse creative forms willprovide a permanent feature in the interior.

As far as services are concerned, at their disposal hotel guests willhave a swimming pool, fitness suite, several bars, and restaurants.Above all else, the key component will be a standard of luxury that isan intrinsic part of this type of international facility. The high standardof hotel services will be supplemented by a conference hall offeringcomfort for meetings of all sizes, as well as international congresses.The unique location of the Hotel Kempinski River Park coupled withservices of the highest standard will truly open a new era for the Slovakhotel business.

FIVE-STAR HOTEL | CONFERENCES | BAR AND RESTAURANT | WELLNESS | SWIMMING POOL

Grand Hotel Kempinski Vysoké Tatry• Hotel operator Kempinski Hotels S.A.• Hotel 18 000 m2

• Wellness approx. 1 250 m2

• Capacity 118 rooms, suites for long term stays, presidential suite

• Reconstruction start 2004• Completion 2008• Planned investment costs EUR 35 million

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The historical Grand Hotel beside Štrbské Pleso is another facility to undergo restoration. Upon completion it will be a five-star hotel, and will add to the collection of Kempinski Hotels & Resorts that for over one-hundred years have stood for the highest standard of hotel operators.

The former Grand Hotel, latterly known as the HviezdoslavTherapeutic Centre, was built in 1882 on the Štrbské Pleso lakeside.The refurbishment aims to raise the hotel’s standard to a five-starlevel. Wings will be added to the east and west, with luxury suites anda fitness suite. In the second stage the building will be connected toa walking area with boutiques, restaurants, cafes, and other services– a lively vibrant area close to Štrbské pleso lake full of opportunitiesfor entertainment and relaxation.

FOUR-STAR HOTEL | BAR AND RESTAURANT | WELLNESS | CONFERENCES

Grand Hotel Praha, Tatranská Lomnica• Hotel operator J&T Hotels management• Capacity Currently 97 rooms• After reconstruction 120 rooms• Date of completion of reconstruction 2009• Planned investment costs EUR 13 million

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Grandhotel Prague at the foot of the Lomnický štít peak has a rich history dating from 1905. Its standard of services has always been the highest for the era. After its reconstruction the hotel will surpass the highest criteria of comfort. The next phase will turn this hotel into a hotel of the third millennium.

This four-star hotel offers beautiful views of the Tatra panorama and ofthe Popradská kotlina valley. Luxury suites meet the highest modernstandards whilst retaining their original charm. The High Tatras offerunlimited opportunities for sports and recreation year-round. TheGrand Hotel Prague offers guests a stylish restaurant with a fireplace,a fitness suite, a congress hall, and small reception rooms includingconference facilities. This is why it has become the venue of choice forsocial events and gatherings. Weddings, receptions, and lectures willbe truly unforgettable in this setting and environment.

FOUR-STAR HOTEL | BAR AND RESTAURANT | WELLNESS | CONFERENCES

Hotel Helios, High Tatras• Hotel operator J&T Hotels management• Capacity 150 hotel rooms, 85 serviced

suites• Date of completion of reconstruction 2009• Planned investment costs EUR 35 million

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The formerly very popular Therapeutic Centre Helios has quiet location close to a mountain creek. After the reconstruction is completed, this centre will be able to satisfy the growing number of people seeking fitness and relaxation breaks.

This modern fitness, relaxation and congress hotel will offer its guests150 rooms at three-star (plus) standard, 85 serviced suites for directsale, and a congress hall with capacity for 300 participants. Visitorswill find everything for activities and relaxation all under one roof– swimming pool, whirlpool, massage, wax packs, and the sea saltbath. The rental of sports facilities is also included so that the extensive sporting opportunities offered by the surrounding area can be fully exploited.

TRAVELLING | SKIING | MOUNTAIN HIKING

• Tatranské lanové dráhy (Tatra Cableways) operates• Tatranská Lomnica ski resort

– Cabin cableway Tatranská Lomnica – Skalnaté pleso– Suspension cableway Skalnaté pleso – Lomnický štít– Chairlift Skalnaté pleso – Lomnické sedlo

• Jamy ski resort• Starý Smokovec ski resort

– Grounded cableway Starý Smokovec – Hrebienok• Jakubkova lúka ski resort• Liptovská Teplička ski resort• Reconstruction period 2007 - 2010• Planned investment costs EUR 81 million

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The cableways in the mountain centres offer are ecological and are frequently the only way to get around. TLD currently operates cabin lifts, chair lifts, and ground cableways in the skiing centres of Tatranská Lomnica, Jamy, Starý Smokovec, Jakubova lúka andLiptovská Teplička.

In order to improve skiing facilities the reconstruction of downhillskiing slopes in Lomnické sedlo, Jamy and Skalnaté pleso is plannedfor 2007-2010. This refurbishment will include the construction ofan artificial snow system and the modernization and completionof cableway stations..

TRAVELLING | SKIING | MOUNTAIN HIKING | RETAIL OUTLETS

• Restaurant• Caffe• Bar• Night club• Cassino• Cleaning service• Toilets• Retail outlets• Warehouses• Underground parking

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SKIING | HIKING | RECREATION | HOTELS | OTHER SERVICES AND ATTRACTIONS

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Skiers can also find their paradise in Slovakia. Thirtyonekilometres of ski slopes for all skiing abilities, ski liftsand cableways up to 2004 metres, and 96 static snowmachines ensuring optimal snow conditions. All of thisoffered by Jasná pod Chopkom, the biggest ski centre inSlovakia.

Four centres - Chopok North Záhradky, Jasná, Otupné and Chopok South - are experiencing significant capital investment so that visitors can expect further improvements every year. The opening season ceremony and night skiing have already become an established tradition. In 2006 two new ski lifts at last connected the northern and the southern slopes of Chopok. Adrenalin sport addicts will enjoy the snowboard park, and four free ride zones are open throughout the season: kite-wing, snow-rafting and paragliding can also be tried. Those who prefer crosscountry skiing will appreciate the well-maintained crosscountry skiing routes. Skiing in Jasná has gained an excellent name for itself among winter sport enthusiasts.

OFFICES | RESTAURANT | FITNESS | CONFERENCE

Tower 115, Bratislava• Total usable area 54 000 m2• Total area of standard office floor 1 400 m2• Above-ground floors (Tower 115) 28• Underground floors (Tower 115) 2• Number of parking spaces 600• Investment costs EUR 50 million

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Tower 115 near the Danube will come to dominate this area of extensive urban development in the near future. The reconstruction has transformed the former building into a modern business-office centre. J&T completed the first phase of the Panorama City project.

The area between the Old Bridge and Apollo Bridge is set to become the future social-economic centre of Bratislava. Its accessibility improved significantly after the completion of Apollo Bridge which connected the motorway ring-road with the city centre. From the economic, social and transport point of view, Tower 115 will become part of one of the most interesting architectonic projects in Bratislava, encompassing all the attributes of a modern European metropolis.

Further developments will soon compliment Tower 115 – the J&TPanorama City project in the area between the streets Pribinova-Landererova, Čulenova, and Košicka. The multi-functional complex will also include apartments, a hotel, and a park.

OFFICES | RESTAURANTS | POST OFFICE | BANK

Westend Business Park, Bratislava• Total floor area (Westend Tower) 9 000 m2

• Total floor area (Westend Court) 10 000 m2

• Total floor area (Westend Point) 7 500 m2

• Start of construction (Westend Square) 2007• Completion of construction (Westend Square) 2008

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In Slovakia‘s rapidly developing capital the quality requirements for office premises are increasing exponentially. Despite the fact that the role of such premises is primarily to fulfil an administrative and commercial function, the interrelated development of the entire location and a symbiosis with existing city buildings is increasingly stressed. The Westend Business Park is exactly this kind of development.

This commercial location close to the city centre respects traditionwhilst also propelling the city into the modern world of businessand commerce. The dominant feature of the complex is the 18-storey Westend Tower. The style of timeless architecture blends with the high standard of more than 6000 m2 of office space. Further modern office space is located in Westend Point and the recently completed Westend Court. The complex will soon be complemented by the 18-storey Westend Square building. There are four underground parking floors, and a coffee-bar and fitness suite are planned. This has a strategic location near to a motorway: a landmark new business district welcoming visitors to the city and setting a new benchmark on the Slovak office market.

OFFICES | RESTAURANTS | FITNESS

Westend Square, Bratislava• Total floor area 39 700 m2

• Total parking area 16 000 m2

• Total office area 17 000 m2

• Total retail area 1 120 m2

• Start of construction (Westend Square) 6/2007• Completion of construction (Westend Square) 1/2009• Investment costs EUR 34,5

million

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APARTMENTS | TERRACES | NATURE | SPORT | RELAXATION

Karloveské rameno, Bratislava• Usable area 18 300 m2

• Total number of apartments 141• Composition 2-room to large-scale apartments• Number of parking spaces 163 indoor and 29 outdoor• Scheduled completion 2006• Planned investment costs EUR 12 million

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Just a stone’s throw from the city centre, Karloveské rameno stream flows into the Danube. The locality is covered with floodplain forests providing virtually ideal housing conditions. Two modern apartment buildings have been built here by this confluence, returning tranquillity and contact with nature to the residential lifestyle again.

Few locations deserve the attribute ‘attractive’ as Karloveské rameno does. This pleasant corner of the Danube is less than two kilometres from the city centre. The nearby urban ring in turn, enables easy access to the major motorways. The two terrace-styled recessed apartment blocks contain a total of 144 apartments. Each apartment offers a view of the peaceful branch of the Danube. Both buildings respect the natural inclination of the slope and the habitable roofs are - as the entire location - covered with attractive greenery to match the surroundings. Just round the corner, residents will find the Danube promenade, a skating track, and a cycle route. The new development at Karloveské rameno offers the unique possibility of all the advantages of relaxation right on the doorstep of your own home.

IndustrialPROJECTS

Industrial – DNV LOGISTICS PARK

LOGISTICKÝ PARK BRATISLAVA

(Devínská Nová Ves)

Total area:200 000 m2

Rentable area : 80 000 m2

- 17 500 m2 rented

- 5 international clients:

-Hella Innenleuchten – 3 132 m2

-VW Electric systems – 2 630 m2

-MC Syncro – 5 342 m2

-HTS International – 4 086 m2

-Garay – 2 290 m2

Industrial – TRNAVA LOGISTICS PARK

Next to the PSA Peugeot Citroen factory. Upon completion it will offer 180,000 sqm of leasable space. The park is split into three main sections for different kind of users/tenants. The first area is for PSA’s “just in time” suppliers (like Faurecia, Streit, Integry,Valeo, etc.), the second is for standalone tenants ( like Datalogic), and the third has been prepared for logistic companies ( like Gefco). All schemes are tailor-made solutions forclients. All utilities are on the site. Timing : 6 months (depending on the size of the premises)