STRATEGY

SERVICE DESIGN

TRAINING & KNOW-HOW

HELPED THE DEVELOPMENT OF THE ROMANIAN CAPITAL MARKETS

STRATEGY

DELOITTE EMERGING MARKETS

DEPUTY PROJECT MANAGER & SENIOR

CAPITAL MARKET ADVISOR

NOVEMBER 2001 - NOV 2006

SERVICE DESIGN

STOCK EXCHANGE

DEVELOPMENT

TRAINING & KNOW-HOW REGULATIONS

ROADMAP FOR DEVELOPMENT OF

THE CAPITAL MARKET

DRAFT REGULATIONS

MARKET TRANSFORMATION

IPO & LISTING PROCESSFOR

ISSUERS

NON-BANK FINANCING TOOLKIT FOR SMEs

IPO & LISTING TOOLKIT FOR ISSUERS

IPO & LISTING PROCESS FOR MINISTRY OF

ECONOMY

IPO & LISTING PROCESS FOR 4 STATE-OWNED UTILITY COMPANIES

ASSISTED TRANSELECTRICA WITH

THE IPO & LISTING PREPARATION

IPO & LISTING PROCESS FOR 80 COMPANIES

MARKET TRANSFORMATION & DEVELOPMENT

FEASIBILITY STUDY RASDAQ MARKET

FEASIBILITY STUDY MERGER BSE &

RASDAQ MARKET

ASSISTED RASDAQ IN IMPLEMENTING

RESTRUCTURING PROGRAM

PUT TOGETHER RESTRUCTURING

PROGRAM FOR RASDAQ

DEVELOPMENT PROGRAM WITH GOVERNMENT OF

ROMANIA

ROADMAP FOR DEVELOPMENT OF THE

SECONDARY MORTGAGE MARKET

BUCHAREST STOCK EXCHANGE

DEVELOPMENT PLAN

FEASIBILITY STUDY FOR MERGER OF BSE & RASDAQ

CAPITAL MARKETS DEVELOPMENT - RESULTS

STOCK EXCHANGE DEVELOPMENT

NEW SUPPLY NEW INFRASTRUCTURENEW DEMAND

NEW SUPPLY = NEW LISTINGS

NEW INFRASTRUCTURE = MARKETS MERGER

NEW DEMAND = NEW PRIVATE PENSION SYSTEM

4 LARGE GAS & ENERGY FIRMSRAISED €1 BILLION BY IPO

19 PENSION FUNDS€5 BLN. ASSETS

7 MILLION PENSION INVESTORSTHE NEW BSE = BSE + RASDAQ

DEVELOPMENT PLAN NEW LISTINGS NEW PRODUCTS MARKET TRANSFORMATION

FINANCIAL INTERMEDIATION

INITIAL PUBLIC OFFERING (IPO) INVESTOR PROTECTION

SECURITIES REGISTRATION

FUNCTION

AUTHORIZATION OF OPEN-ENDED AND

CLOSED-ENDED FUNDS