Paul Hastings Advises Bosnian Serb Republic on €3 Billion Roadway Project

October 20, 2008

London (October 20, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm advised the Bosnian Serb Republic in its concession agreement with Austrian company Strabag to build approximately 430km of roads across the Bosnian Serb region. The project, which is expected to be completed by 2013, is valued at approximately €3 billion.

Under the terms of the transaction, Strabag will form a special purpose vehicle with the Bosnian Serb Republic. The motorway network will include sections that will form part of a future north/south pan-European corridor, connecting Budapest with the Croatian port of Ploce.

"The approval by the Bosnian Serb Republic's parliament of the entry into this agreement was a key milestone in the development of the project," said Jonathan Simpson, Chair of European Projects. "This deal reaffirms Paul Hastings position as a leader in infrastructure deals for South Eastern Europe. In the past year, the firm successfully closed the €900 million refinancing of the Istrian Motorway and the refinancing of the €350 million Zagreb-Macelj Motorways in Croatia."

London partner Jonathan Simpson led the Paul Hastings team, which included associates Kirk Lovric, Costanza Russo and Tyler Rudd.

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 $100 billion of project transactions globally.

Paul, Hastings, Janofsky & Walker LLP is one of the world's leading law firms, with 1,300 lawyers in 18 international offices. Our practice breadth enables us to deliver innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.