An “Open Auction” for the sale of 291,980 shares of Bulgarian River Shipping AD-Ruse representing 25.2066% of the company’s capital will be held between 23 and 27 April on the Bulgarian Stock Exchange(BSE), BSE announced.

The market lot floor price has been set at 180.00 leva (1 market lot=1 share). In case all offered shares are sold at the 180 leva/share floor price, the auction is expected to bring 52.56 mln leva.

40,000 market lots will be offered in the first day of the auction. By the end of the open auction day BSE will publish the parameters of the public offering for the next day of the auction.

Bulgarian River Shipping AD-Ruse will hold a general shareholders’ meeting (GMS) on 21 May 2007 which is expected to vote a proposal to increase the company’s capital.

According to the draft resolution the capital will be increased from 1.158 mln leva at the moment to 28.959 mln leva via the issuance of 27.8 mln shares with a face value of 1.00 lev/each using own funds the company. Thus each shareholders will receive 24 shares for free.

Chimimport AD controls more than 90% of Bulgarian River Shipping AD-Ruse’s capital through connected persons.

Bulgarian River Shipping’s shares were traded in the 230-230.51 leva/share range today. The historical maximum on this position is 297 leva/share.