CYPRUS AT A GLANCEGroup G

Anna SpyrouMarch 2010

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AGENDA

• Company fact sheet• Market position

― Market share ― Key clients― Membership in professional organizations, awards and recognitions

• Strategic goals― Priority service line

• Services and lead service partners • Key industry clients

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ABOUT BDO CYPRUS

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COMPANY FACT SHEET

BDO Ltd was established in 1985 and is ranked amongst the island’s largest providers of professional services.

We have a presence in the key business cities – Nicosia (our head office) and Limassol.

BDO Ltd employs 70 people, and its associated firms (Oneworld / BDO Business Services Ltd) - 80.

BDO Cyprus firms provide a full range of professional services including assurance and audit, consulting, tax, corporate finance, international tax planning, corporate and trust, legal and support services. They are designed to assist international clients to meet their cross border objectives. We serve them in a personal way providing them with quality services, advice and expertise.

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COMPANY FACT SHEET

We place particular emphasis on serving international and foreign clients. We maintain a close affinity with clients from central and eastern European countries and continue to develop our international business expertise.

The significance of double tax treaties between Cyprus and East European countries attracts businesses and investors from all over the world including North America and Western Europe. By setting up their investments through Cyprus they take advantage of the favourable tax treaties.

Cyprus joined the EU in May 2004.The existing favourable double tax treaties remain intact, the tax rates are still attractive and the island is now without doubt the holding company regime of choice. Moreover, the island is the natural springboard through which non-EU companies will gain access to the recently enlarged EU market.

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BDO CYPRUS MARKET POSITION

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MARKET SHARE

No surveys regarding Market Share are available in Cyprus for audit firms.

BDO Cyprus is 5th largest audit and accounting firm on the island.

Anticipated ranking for audit and related services is again 5th position.

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KEY CLIENTS

• Seabird (Stockholm exchange)• Helesi (AIM)• Itera International• Bank of Moscow• Otkritie Group• PFIG Group• Zepter International

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MEMBERSHIP IN PROFESSIONAL ORGANIZATIONS

• ICAEW

• ACCA

• ICPAC (Institute of Certified Public Accountants of Cyprus)

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AWARDS AND RECOGNITIONS

• Platinum ACCA

• Quality Checked (ACCA, ICPAC)

• ICAEW Authorised Training Employer

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BDO CYPRUS SERVICES AND INDUSTRIES

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PRIORITY SERVICE LINES

• Audit

• Tax

• Consulting

• Global Business Services

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SERVICES AND LEAD SERVICE PARTNER

• Audit – K. Zangoulos/ R. Potamitis

• Tax – N. Korellis / K. Zangoulos

• Consulting & Global Business Services – G. Philippides

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KEY INDUSTRY CLIENTS

• International Business Companies

• Investment Companies

• Private Fund ICIS

• Holding Companies

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THANK YOU!