NEWS

Paul Hastings Retained by the Albanian Ministry of Finance to Advise on Landmark Sovereign Loan Program to Fund Motorway Project

December 18, 2007

Paul Hastings Retained by the Albanian Ministry of Finance to Advise on Landmark Sovereign Loan Program to Fund Motorway Project

London (December 18, 2007) – Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm has been retained by the Albanian Ministry of Finance to advise on a sovereign loan program arranged by Alpha Bank and the National Bank of Greece.

The deal, valued at approximately €230 million, will be one of the largest sovereign debt deals in Albania to date. The proceeds of the sovereign loan deal will be used to finance the construction of the Reshen-Kalimash section of the Duress-Morina motorway in Albania.

London partner Jonathan Simpson led the Paul Hastings team, which included associates Costanza Russo and Gillian Richards.

According to Jonathan Simpson, "involvement in this landmark deal, following our recent successful closing of the Istrian Motorway Project in Croatia, continues Paul Hastings’ market leading success on advising on major transportation projects in South Eastern Europe. We are delighted to work with the Albanian Government on this landmark deal."

About Paul Hastings Global Projects Group: The Paul Hastings Global Projects Group is internationally recognized for the breadth and depth of its project finance capabilities. With more than 25 years of experience, Paul Hastings has one of the most experienced teams of project lawyers in the world. In the last few years, the Global Projects Group has represented clients in more than $40 billion of project transactions globally.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 17 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.