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XXI Century Investments Issues Trading Update - Quick Facts

XXI Century Investments Public Ltd. (XXIC.L) said that it has recently paid approximately US$15.1 million of interest and principal payments, comprising the semi-annual interest coupon on its US$175m Guaranteed secured Notes due 2010, as well as principal and interest payments to local banks under its mortgage-backed credit lines.

One of XXI Century's subsidiaries concluded a sales agreement with a local developer, pursuant to which the developer will receive 100% of the property rights to Kvadrat-Balzaka shopping centre in Kyiv upon completion of its construction, expected in second quarter of 2009.

The developer has agreed to finance the remaining construction costs to complete this project and to pay an additional US$2.98 million to the Company's subsidiary. Of this amount US$0.72 million has been paid and the balance is payable upon the completion of the shopping centre.

The Company has also agreed with the same local developer to buy his 20% share in the mixed-use project in Poltava for US$2.27 million, thereby providing XXI Century with 100% ownership of this project. The parties agreed to finalize this transaction by May 1, 2009.

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