On 14 April 2008, RICS, the mark of property professionalism worldwide, held its official RICS Rossia Launch Event at the Swissôtel in Moscow. Around 70 high-level professionals and government officials attended the event which featured a session by RICS President, David Tuffin, on the importance of the RICS Code of Conduct to guarantee the highest professional standards in the global real estate sector. Andrew Renshaw, Fellow of RICS (JLL) presented the Russian translation of The Red Book (RICS Valuation standards), followed by a presentation on the international effects of the subprime crisis by RICS Chief Economist Simon Rubinsohn. David Tuffin, RICS President commented: ‘It is very encouraging to see the keen interest of the Russian property market in the RICS qualification, which represents the highest professional standards, worldwide. Our strict code of ethics and commitment to international standards, for example in valuation (through the RICS "Red Book") give great confidence to clients and employers." In total, 25 new members having joined RICS Rossia in the past business year received their diplomas at the official diploma ceremony. Eminent and Senior Professional members: * Mr Gerald Gaige FRICS * Mr Sergey Riabokobylko FRICS * Ms Svetlana Tabakova FRICS * Ms Larisa Afanasyeva MRICS * Ms Olga Arkhangelskaya MRICS * Mr Sergey Belov MRICS * Mr Robert Holliday MRICS * Mr Douglas Johannson MRICS * Ms Polina Kondratenko MRICS * Mr Alexander Kopylov MRICS * Ms Jana Kuzina MRICS * Mr Jason Leonardi MRICS * Ms Victoria Lvova MRICS * Ms Kathleen Anne McMurtrie MRICS * Ms Heike Martin MRICS * Mr Vladislav Miagkov MRICS * Ms Yulia Nikulicheva MRICS * Mr Konstantin Romanov MRICS * Ms Violetta Riabtseva (Kempf) MRICS * Mr Evgeniy Semenov MRICS * Ms Svetlana Shalayeva MRICS * Ms Ekaterina Sinogeykina MRICS * Ms Tatiana Tikova MRICS * Ms Marina Usenko MRICS * Ms Lyubov Zhuranova MRICS For further information on RICS Rossia, contact Vera Rukina, Country Manager RICS Rossia (vrukina@rics.org) To have a look at the presentations held at our Russian launch event, go to: www.joinricsineurope.org

Please find attached official press releases on this event in English and Russian.