Renaissance Capital acted as sole financial advisor

Kyiv, 19 December 2008 - Gruppo Campari today announced that it has signed a binding agreement to acquire indirectly more than 99% of the Odessa Sparkling Wine Company.

Renaissance Capital acted as sole financial advisor to the Odessa Sparkling Wine Company.

The Odessa Sparkling Wine Company is one of the leading sparkling wine producers in Ukraine with a long history. Its origins date back to 1896 when it was founded by the French national Henry Roederer in Odessa.

The Odessa Sparkling Wine Company produces more than 16 brands covering the mainstream and premium price segments. Its key brands are Odessa, L'Odessika, Golden Duke, Sovetskoe Shampanskoe, Odessa Classic and Henry Roederer. The brands target the price segments below the import segment and the company is - therefore - well positioned to address current and future consumer needs in the Ukrainian alcohol market. In addition, the products are well suited for export.

The company produced around 11 million bottles of sparkling wine in 2007 and the company's products are distributed throughout Ukraine to approximately 19,000 retail outlets.

With the acquisition of the Odessa Sparkling Wine Company, Gruppo Campari is entering the sizeable spirit markets of the CIS. Ukraine is the 8th biggest alcohol market in the world (source Euromonitor and Business Analytika) and the per capita alcohol consumption is in line with countries such as Poland and Sweden.

The transaction is anticipated to close in the first quarter of 2009.

"The acquisition of the Odessa Sparkling Wine Company is strategic for Gruppo Campari as it provides for a good entry into the Ukrainian market in a balanced way and supplements our import brands with the volumes of a local mainstream and premium product. We see this acquisition as an entry point in the broader emerging spirit markets of the CIS which we consider to be a mid-term priority for Gruppo Campari", says Bob Kunze-Concewitz, Chief Executive Officer of Gruppo Campari.

“After our recent roles in spirits transactions in Russia and Ukraine, this deal further strengthens Renaissance Capital’s leading advisory position in the CIS beverage and alcohol market. The deal underscores the validity of our unique investment banking approach tailored to the challenges of emerging markets. Finally, the acquisition of the Odessa Sparkling Wine Company by Gruppo Campari also proves the continued mid-term attractiveness of the Ukrainian market as well as the scope – even in challenging conditions – for value added deals”, says Peter Vanhecke, Chief Executive Officer of Renaissance Capital Ukraine.

About Renaissance Capital
Renaissance Capital Ukraine is a leading full-service investment bank based in Kyiv and a part of Renaissance Capital, the No 1 independent investment bank in the CIS and other high-opportunity emerging markets. The company holds market-leading positions in each of its core businesses in Ukraine – financial and strategic advisory, M&A, structuring, trading, equity and debt issuance, and research.

Since 2005, Renaissance Capital Ukraine advised on major transactions that brought over $2 billion to its Ukrainian clients. Renaissance Capital’s recent advisory roles in the spirits and beverage market include the acquisition of the Myagkov vodka brand, the IPO of Synergy, the sale of Parliament vodka, the acquisition of Russian Alcohol, the sale of Rosinka, and the acquisition of Lebedyansky.