On April 18, 2007 (Wednesday) Bulbank starts the subscription for shares from the capital increase of Kaolin AD.

The subscription will continue till 17.00 at April 20, 2007 (Friday)

Announcement of the common share price (value) and informing of the eligible investors will be on April 21, 2007 (Saturday).

The investors will be able to pay the value of the shares in the period April 23 - 25, 2007 transferring amounts to the following bank account:

BG37 BFTB 7630 5075 6076 56

BIC: BFTBBGSF

Investors and investment intermediaries may present their orders in the following branches of Bulbank:

• Sofia, 7 Sveta Nedelya Square

• Burgas, 22 Alexandrovska Street

• Blagoevgrad, 22 Tsar Ivan Shishman Street

• Varna, 1 Petko Karavelov Street

• Veliko Tarnovo, 2B Marno Pole Street

• Vidin, 3 Tsar Simeon Veliki Street

• Vratsa, 10 Lukashov Street

• Dobrich, 7 Nezavisimost Square

• Kustendil, 54 Tsar Osvoboditel Street

• Montana, 4 Stefan Karadza Street

• Pernik, Building 14 Krakra Pernishki Street

• Pleven, 11 Tsar Simeon Street

• Plovdiv, 4 Ivan Vazov Street

• Ruse, 5 Sveta Troitsa Square

• Sliven, 23 Rakovski street

• Smolian, 51 Bulgaria Boulevard

• Stara Zagora, 126 Tsar Simeon Veliki Street

• Haskovo, 4 Han Kubrat Street

• Shumen, 64 Slavianski Boulevard

More information and the full text of the prospect could be found on the website of Bulgaria Stock Exchange (the document is in PDF-format and opens in new browser window)

For more information, please contact:

• Mrs. Yolanda Hristova, phone +359 2 9269 128, fax +359 2 9269 104, zpmboeb/isjtupwbAcjpdijn/dpn

• Mrs. Borislava Dimitrova, phone +359 2 923 2596, fax +359 2 923 2427, cpsjtmbwb/ejnjuspwbAcvmcbol/ch