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Juny 27

Jensen Russian Real Estate Fund II, L.P.

Jensen Russian Real Estate Fund II, L.P. is extremely pleased to announce raising additional capital for its Jensen Russian Real Estate Fund II, L.P. The Fund received $31 million in its recent closings, bringing the total Fund size to over $120 million. In addition, The Fund closed on an SPV co-investment vehicle with more than $30 million. The Fund’s strategy remains to invest in high-quality assets with a potential for value enhancement due to prior mismanagement, ownership problems or undercapitalization. The Fund and the Co-investment Vehicle expect to achieve favorable risk-adjusted returns.

Jensen is very optimistic on the prospects for the Fund and believes that the investment will be highly rewarded by strong returns.


January 26

Vladimir Putin Visited Snegiryovka Village

On January 14th, 2010 Prime Minister of Russia Vladimir Putin made a working trip to the Leningrad region. Visiting Snegiryovka village located in Priozersk region (“Sosnovo” project of Jensen Group) was one of the items on his schedule.

Along with Vladimir Putin and Governor of the Leningrad region Valery Serdyukov the Snegiryovka village was also visited by the first deputy Prime Minister Viktor Zubkov and the Minister of Agriculture of the Russian Federation Elena Skrynnik. The Prime Minister and members of the government visited the restored culture center of Snegiryovka village, reconstructed with the active participation of Jensen Group. A conference devoted to the problems in social sphere of the Leningrad region, problems of Russia’s farming industry and ways of overcoming them was held at the same culture center. At the conference the Governor expressed his appreciation of the Prime Minister’s interest in achievements and development problems of the Leningrad Region and Russian agroindustrial complex. Valery Sedyukov noted the vital importance of the government’s decrees on increasing pensions and the necessity of developing residential construction.

The Governor of the Leningrad region reported to Vladimir Putin the results of social and economic development for the past year in detail. As a whole the economy of the region turned out to be stable against crisis developments, an increase of industrial production was also noted.

The Prime Minister particularly noted the fact that the gross regional product of the Leningrad region did not decrease in 2009, but increased on the contrary. This was the result of regional support of investment activity.

The local residents were expecting the arrival of such eminent guest to the Snegiryovka village on the streets and greeted the arriving high-ranking visitors. At the end of the conference Vladimir Putin came out to the public which was expecting him and thanked the Snegiryovka village residents for their hospitality, congratulated them with the Old New Year and talked to them about their problems. The villagers invited the Prime Minister to make another visit to Snegiryovka and Vladimir Putin having thanked them for their kind invitation promised to come again.