Early Signs of Economic Recovery in Ukraine, but Conditions Remain Challenging

WASHINGTON, Oct. 19 /PRNewswire-USNewswire/ -- Over two hundred international
experts on Ukraine gathered in Washington, D.C. and Kyiv on October 15th 2009
to evaluate the country's progress in recovering from the recent global
liquidity crisis. The first annual International Forum on the Economic
Development of Ukraine (www.edfukraine.com) concluded that while there are
signs of an economic recovery in Ukraine, conditions will remain challenging
in the near future.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091019/CL94428 )

At the onset of the international crisis, Ukraine had been enjoying strong
growth. As the crisis rapidly unfolded across the globe in the fall of 2008,
it interrupted the growth cycle of Ukraine and many other emerging markets.
Amidst extreme global economic difficulties, Ukraine suffered one of the
deepest economic downturns and sharpest currency depreciations during the most
severe phases of the crisis. Although the pace of the economic slowdown in
Ukraine has recently decelerated, overall economic conditions remain
challenging.

Respected economists, business leaders, and senior officials from the U.S. and
Ukrainian government gathered at the Newseum in Washington, D.C. and the World
Bank Headquarters in Kyiv to review progress and setbacks within the
challenging economic environment. With one of the largest gatherings of
Ukraine and regional experts on hand, economic, political and business leaders
in both Ukraine and the U.S. conferred over a video teleconference to discuss
the financial crisis in Ukraine and the government response.

Also present for the discussion in Washington were Ukrainian Vice Prime
Minister Hryhoriy Nemyria and Minister of Economy Bohdan Danylyshyn, along
with a 50-person strong Ukrainian Trade and Investment Delegation of business
and government officials to the U.S. On the Kyiv side, leading international
financial and development officials from the IMF, EBRD, EC, the World Bank and
others engaged in a meaningful dialogue on steps needed to move forward beyond
the crisis.

A number of panels and keynote addresses were scheduled to cover the most
pressing issues related to the crisis. Among the topics discussed were the
impact of the global liquidity crisis on Ukraine and the road to recovery, as
well as causes of the crisis and potential solutions, including measures to
revive economic development in Ukraine. Participants also discussed Ukraine's
response to the current crisis, perspectives for 2010, and US support for
global economic recovery and to Ukraine. According to Dr. Edilberto Segura,
Chairman of the Board of The Bleyzer Foundation, the longer term economic
outlook for Ukraine is still bright, but significant improvements in the
business environment are needed to promote investments as the new source of
economic growth.

The event was hosted by the U.S. - Ukraine Business Council and sponsored by
SigmaBleyzer and The Bleyzer Foundation.

www.edfukraine.com
www.usubc.org
www.SigmaBleyzer.com
www.BleyzerFoundation.org

SOURCE U.S. - Ukraine Business Council

Morgan Williams President of U.S. - Ukraine Business Council (USUBC),
+1-202-437-4707, mwilliams@usubc.org; or Mark Rudkin, Director of Marketing of
SigmaBleyzer Investment Group, L.L.C., +1-713-621-3111,
msrudkin@sigmableyzer.com