Welcome to the U.S.-Ukraine Business Council

An Energy Development Company

U.S.-Ukraine Business Council (USUBC)
Washington, D.C., Thursday, July 10, 2008

WASHINGTON, D.C. - The executive committee of the U.S.-Ukraine
Business Council (USUBC), on behalf of the entire membership, is most
pleased to announce that ContourGlobal Ukraine has been approved for
USUBC membership. The company is USUBC member number 87.

ContourGlobal Ukraine is a subsidiary of ContourGlobal, an energy
development company headquartered in New York, NY. ContourGlobal
develops, acquires and operates electric power and district heating
businesses around the globe.

ContourGlobal focuses on high-growth, under-served markets and
innovative niches within developed markets. In Ukraine, ContourGlobal
focuses on providing local, decentralized solutions for residential,
commercial, industrial and public clients in need of efficient, reliable and
economical sources of energy.

ContourGlobal develops its projects in partnership with public and state
organizations, as well as through direct contracts with industrial consumers
of energy. ContourGlobal is also looking to develop renewable projects in
Ukraine and is interested in the privatization of the generation companies.


ContourGlobal was founded in 2005 by its Chief Executive Officer Joseph
Brandt and Reservoir Capital Group, an investment fund based in New

George Nizharadze is CEO Ukraine and Senior VP, Operations for
ContourGlobal. Previously, Mr. Nizharadze held operating positions in
US-based AES Corporation's businesses in Latin America and between
2004 and 2007 served as Chief Operating Officer of AES's two electrical
distribution businesses in Ukraine. Nizharadze will represent ContourGlobal
on the USUBC board of directors.

Active development in Ukraine

ContourGlobal currently consists of eight businesses on four continents with
approximately 1,000 megawatts of installed capacity. They also have an
active pipeline of new development business totaling 10,000 megawatts.

Their current portfolio includes: KramatorskTeploEnergo (KTE), Ukraine
(http://www.contourglobal.com/kramatorsk.html); Bogorodchany, Ukraine
(http://www.contourglobal.com/bogorodchany.html); Santa Cruz, Brazil;
Sochagota, Colombia; SENCAP, Greece; ContourGlobal Togo, Togo;
PowerMinn, USA; and ContourGlobal Solutions, Europe and Africa.

Working closely with governments, development banks and private clients,
ContourGlobal takes a "client first" approach to power project development,
utilizing its internal technical and commercial capabilities for rapid
evaluation and implementation of new development, repowering of older
energy assets and the acquisition of existing operations.


Over a short period of time, ContourGlobal developed two significant
projects in Ukraine. In partnership with the City of Kramatorsk, in
Donetsk Region, ContourGlobal acquired KramatorskTeploEnergo (KTE),
a combined heat and power and district heating operation with installed
operating electrical capacity of 120 MW, located in the city of Kramatorsk.

Upon acquisition, severely lacking in capital investments and effective
operating practices, the project was failing to supply the city with heat. In
2007 and 2008, ContourGlobal implemented multi-million dollar investments
to up-grade the capital equipment and convert two of the plant's gas-fired
boilers to coal, decreasing costs and increasing security of heat supply for
the city.

The investment made by ContourGlobal in Kramatorsk is the largest
investment made in the plant for over 40 years. In parallel, ContourGlobal
is carrying out continuous improvement of the  operational efficiency of
the project.


The second project, whose construction is expected to start in the fourth
quarter of 2008, is located in the Bogorodchany industrial zone in the
Ivano-Frankovsk province of Western Ukraine. It will comprise a 30
megawatt combined heat and power plant.

The plant will use exhaust heat from the Bogorodchany KC21 compressor
station on the Soyuz natural gas pipeline that transports Russian and Central
Asian natural gas through Ukraine to Western Europe.

The new facility will capture the exhaust heat from the seven gas turbine-
driven compressor units at KC21 to generate electricity via five new heat-
recovery boilers and a steam turbine. The project cost is approximately
$90 million. 

ContourGlobal has a fixed-price turnkey contract with PSG International of
the Czech Republic, which includes industry-standard performance and
output guarantees.  Long term financing will be provided through the Czech
Export Bank.

As an extremely low-cost power producer, the plant will be a highly
competitive seller of electricity into the Ukrainian energy market. In addition,
as a zero emission facility, the plant will generate a substantial volume of
carbon credits.

Reliable and efficient on-site generation and emission reduction initiative
includes Ukraine

The Coca-Cola Hellenic Bottling Company S.A. and ContourGlobal,
announced in January 2008 they are launching a major industrial emissions
reduction initiative in Europe with plans to install a total of 15 CHP
(Combined Heat and Power) plants at bottling facilities in twelve countries.
The first phase of the project will utilize 19 GE Energy Jenbacher gas
engines with a total capacity of 58 MW.

Utilizing modern state-of-the-art equipment and its engineering know-how,
ContourGlobal will install its Quad-Generation plants at Coca-Cola Hellenic
Bottling Company's  production facilities in Austria, Czech Republic,
Greece, Italy, Northern Ireland, Poland, Romania, Slovakia, Russia, Ukraine,
Serbia, and Nigeria to supply the Client with electricity, heat, chilled
water and carbon dioxide. The plant in Kyiv, Ukraine is expected to come
into operation in October 2009.

Additional information about ContourGlobal can be found on their
website at:  www.ContourGlobal.com.

"The U.S.-Ukraine Business Council (USUBC) is most pleased to have
ContourGlobal Ukraine join the rapidly expanding USUBC membership."
said Morgan Williams, SigmaBleyzer, who serves as President of USUBC.


ContourGlobal Ukraine is the 87th member for USUBC, the 35th new
member for 2008, and the 65th new member since January of 2007. USUBC
membership has nearly quadrupled in the past 19 months, going from 22
members in January of 2007 to 87 members in July of 2008. Membership
is expected to top 100 very soon.

The other new members in 2008 are MaxWell USA, Baker and McKenzie
law firm, Och-Ziff Capital Management Group, Dipol Chemical International,
MJA Asset Management, General Dynamics, Lockheed Martin, Halliburton,
DLA Piper law firm, EPAM Systems, DHL International Ukraine, Air Tractor,
Inc., Magisters law firm, Ernst & Young, Umbra LLC., US PolyTech LLC,
Vision TV LLC, Crumpton Group, American Express Bank, a Standard
Chartered group company, TNK-BP Commerce LLC, Rakotis, American
Councils for International Education, Squire, Sanders & Dempsey LLP,
International Commerce Corporation, IMTC-MEI, Nationwide Equipment
Company, First International Resources, the Doheny Global Group, Foyil
Securities, KPMG, Asters law firm, Solid Team LLC, R & J Trading
International, Vasil Kisil & Partners law firm, and AeroSvit Ukrainian

The complete USUBC membership list and other information about
USUBC can be found at: http://www.usubc.org.


Ukraine's Euro-Atlantic integration is first and foremost today being driven
by the private business community in Ukraine, Europe, and the United States.

"Ukraine's aspirations for Euro-Atlantic integration, to be a major member
of the world's community of strong, democratic, independent, prosperous,
private business sector driven nations, will be realized largely through the
present leadership and investments from the business community and then
hopefully with some real support later from the politicians and government
leaders," wrote Morgan Williams, SigmaBleyzer, who serves as President
of USUBC, in a recent article published by the "Welcome to Ukraine"