Kein Folientitel

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The Specialist Institution for the Public Sector
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Our Shareholder

• Dexia Kommunalkredit Bank (Dexia-Kom) was
  established in order to concentrate and
  strengthen the activities of Dexia and
  Kommunalkredit in CEE
• Dexia Crédit Local is the world leading provider
  of finance for public infrastructure projects
• Kommunalkredit is Austria's number one in public
  finance

• Provision of long-term financing solutions to
  public authorities and public enterprises
• Development of financing solutions adopted to
  local environment and needs of the customers in
  CEECs (e.g. Maastricht-neutral financing
  solutions)

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Dexia Kommunalkredit BankThe owners
Kommunalkredit Austria (as of 31.12.2006) Total
Assets EUR 26.9 bln.
Dexia Crédit Local (as of 30.06.2006) Total
Assets EUR 276.4 bln.
Kommunalkredit 49.16
Dexia Crédit Local 50.84
Long-term ratings
Fitch
Moodys
Standard Poor's
AA-
Aa2
Kommunalkredit
Dexia
AA
Aa2
AA
Aa2
Dexia Kommunalkredit Bank
AA
-
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Dexia Kommunalkredit Bank
Fitch Rating Dexia Kommunalkredit Bank AA

• Fitch Ratings for Dexia Kommunalkredit Bank?
  Long Term Rating AA? Short Term Rating F1?
  Individual Rating C
• Fitch? ...rating reflects sound asset quality
  and it's Dexia-Kom's good
• market position as a lender to public
  authorities... ? Fitch expects both partners
  to strengthen their activities in CEE

Best Rating of an Austrian bank without public
guarantee!
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The Market
SOFIA
15 countries with 136 mln inhabitants
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Situation of local governments in CEEC
EUR 110 bn. to achieve compliance with EC
Directives ("acquis") EUR 515 bn. investment
needs to reach EU-15 average infrastructure
standard EUR 22 bn. EU funds available for
2004-2006 (approx. EUR 48 bn 2007-2013)
Economic growth in GDP
2003
2004
2005
2006
Poland
3.8
5.8
4.9
4.5
Czech Republic
3.7
3.8
3.8
4.0
Hungary
3.0
3.9
3.7
3.8
Slovakia
4.0
4.9
4.5
5.2

Bulgaria
4.3
5.5
6.0
5.5
Romania
4.9
7.2
5.6
5.1
EU-15
0.8
2.2
2.2
2.3

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Target customers

• Municipalities
• Regions
• Sovereigns

• Public-owned enterprises
• Utilities and suppliers of the public sector

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FINANCINGBusiness fields
Transport
Infrastructure
Public construction
Public Finance CEE
Social housing
Health care, Education, Culture
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The role of specialized banks

• Provision of long-term public finance solutions
• (duration up to 25 years and grace periods
  available)
• Concentration on specialized knowledge and high
  product quality
• Offering complementary services
• (management of public funding schemes/consulting
  activities)
• High flexibility and customer-oriented service
• Cost-saving structures
• Advantages in refinancing (Basel II)

Tailor-made financing solutions
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Our products and services
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Loans

• Budget financing
• 1. Short- and long-term budget financing
• 2. Bridge financing (e.g. EU funds)
• Infrastructure financing
• City roads
• Intercity roads
• Republic roads
• Municipal centres

Innovative financing solutions

• Restructuring
• Project finance (including public-private
  partnerships)
• Leasing
• Factoring
• Structured products
• Access to local and international funds (EIB and
  EBRD)

Products are adapted to local requirements
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Our products and services
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Bond issues

• Stand alone fixed/floating rate
• EMTN debt issuance programs
• Private placements (plain vanilla structured)
• Municipal and state

Securitisation
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Conclusion
Dexia Kommunalkredit Bank
Innovative financing solutions adapted to local
requirements
Focused investments in CEE due to great market
potential
Dexia-Kom is your strong partner in CEE
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Contact
Telephone / E-mail
Damyan Damyanov
359 2 811 49 11 damyan.damyanov_at_ dexia-kom.bg
Chief Executive Officer
359 2 811 49 13 ivelina.georgieva_at_ dexia-kom.bg
Ivelina Georgieva
Operations Manager
359 2 811 49 12 ?vgeny.gospodinov_at_ dexia-kom.bg
Evgeny Gospodinov
SeniorSales Manager
1000 Sofia, 19 Karnigradska Street, floor 1
Tel. [phone]
Fax [phone]
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Selected transactions Dexia and Kommunalkredit
participated in
Municipality of Budapest EUR 100 mln Syndicated
term loan (Lead Arranger)
Kongresové centrum Praha CZK 800 mln
Syndicated term loan (Lender)
Prague Airport Terminal CZK 9,000
mln Syndicated guarantee (Arranger)
Warsaw Airport II USD 215 mln Guarantee for
EIB-loan (Guarantor)
Zagrebacki Elektricni Tramvaj EUR 48 mln Term
loan facility (Arranger)
Poland EUR 500 mln 50 year
bonds (Dexia-Kom Lead Arranger)
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www.dexia-kom.com
www.dexia-kom.bg www.dexia-kom.com