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The Prime Business Group Holding restructures its assets


07/24/2007


After summing up the results of the last 4 years work of this multi-industry enterprise, the Management of the Prime Business Group Holding came to a decision to significantly restructure its development strategy in order to ensure a high business dynamic. Development, commercial property management and telecommunications are the three main market segments where the Prime Business Group will focus its business-efforts. The Prime Business Group was established in 2003 and consisted of 8 companies whose activities were concentrated in 6 sectors: telecommunications, building, systems integration, IT, financing and consulting. At the present moment the restructuring of the holding is divided in a number of stages due to 3 companies activities cease and development of other higher priority assets of the holding. Mastertel Telecommunications Company demonstrated high growth rates and joined Moscow regions 10 leaders in telecommunications services, having taken over several smaller connection service providers. In 2006 Master-Connect appeared on the market in Moscow and Moscow region - the first large provider of dark optic fibre in this area. More then two thirds of the service providers of varying sizes have become its clients. IP-telephony and the provision of pre-paid cards by the Universal Card Technologies Company (Piton trade mark) were admitted to be of no potential. This is due to the States Regulations of far-ranging communications and the introduction of the mandatory licensing of IP-telephony. Universal Card Technologies has been restructured to provide service to home networks. Mastertel-Sever became a leading building-construction company. Its services include the laying and construction of fibre-optic cables, the building of telephone channels and the creation of structured cabling systems. Obvious business failure and low liquidity of Prime Business Consulting and Prime Audit have put these companies among those falling behind in assets value. Therefore it was decided to cease their operations. Balmer Systems is at the stage of its active development. It specialises in software design. High competitiveness of the Idealex billing system (designed by Balmer Systems) has been acknowledged by a number of connection service providers. Mastertrade systems integrator has been restructured to supply a large range of computer and telecommunications equipment relative to B2B, as well as office appliances. Prime Leasing financial company will be liquidated due to poor volumes of work and high competition with large market players. All business development utilizes business potential. We know that the current market of high quality office property in Moscow region still shows an excess of demand over supply. Also, Jones Lang LaSalle experts estimate that 2007 will be a record year in Russia for the volume of investments into commercial property and will reach 4,5 billion euro. So taking this as a guide, we have defined Prime Business Groups development vector. Now we are working very intensively on the introduction of new companies into the holding. In the beginning of the next business season we will be ready to announce this in greater detail- said Vitaliy Ezopov, Prime Business Group Member of the Board of Directors and an Executive Director of Mastertel.



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