Bulgartabac-Holding AD defined parameters for the sale of three of its companies – Gotse Delchev BT, Kardjali BT and Smolyan BT, following the recommendations of their consultants in restructuring, announced BSE-Sofia.

753 062 shares (78.27% of the capital) of Gotse Delchev BTAD will be sold in a public tender on the Bulgarian Stock Exchange – Sofia.

The closed mixed auction will be held on 15th May 2007 and the minimal price is set at BGN 2 250 000.

The shares of Kardjali BTAD will be sold in a publicly announced tender. The only orders assessment criterion will be the proposed purchase price. 461 828 common dematerialized registered shares (which is 90.56% of the company’s capital) are offered and the minimal tender price is BGN 2.5 mln.

Offers should be submitted within 30 days of the date of the publication of the tender announcement in compliance with the tender documentation.

The tender announcement will be published in two national and one local newspapers and it is expected that offers shall be received since mid-May.

159 714 shares (99.66% of the capital) of Smolyan BTAD will be sold at a publicly announced tender. The only criterion for offers assessment will be the proposed purchase price.

The minimal price is set at BGN 1.5 mln. The tender offers must be submitted within 30 days of the publication of the announcement in compliance with the tender documentation.

It is expected that the starting date for receiving offers will be around mid-May 2007. The announcement and the tender documentation shall include all important dates for inspections, clarifications, deposits for participation etc. within the offers submission timeframe.