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Reference for consulting company Retail Solutions LLC

By recommendation of the Head of the Far East EBRD office, we invited the consulting company Retail Solutions LLC as a highly qualified expert for working out a strategy and business planning for one of our chain store retail clients. Retail Solutions had already had experience in EBRD financing projects, and we had heard very positive references on the work of the consulting company.

Retail Solutions delivered financial analysis for evaluation of the retailer's potential, including a critical appraisal, retail strategy validation, long term business model, SWOT analysis and recommendations on the retailer's growth strategy.

Our client was very satisfied with the work of Retail Solutions consultancy and appreciated their approach and recommendations. A year after the project completion, company management admitted that the consulting project conducted by the Retail Solutions LLC delivered many interesting ideas for implementation and continued development. According to the consultant's recommendations, the company opened 17 new sales outlets in 17 cities of Russia, worked out a single brand for the production and sales, substantially improved of product merchandising. These actions resulted in a significant rise of sales by 134%, and an increase of the annual turnover by 48%.

Our office also was very pleased to work with the consultants from Retail Solutions. In addition to being very nice people, we felt while working on the project reporting and various technical issues required by our programme, that Retail Solutions was highly professional and reliable.

Having had a positive experience of cooperation with Retail Solutions, we recommended the consulting company to other TAM/BAS offices for projects with their businesses.

Sincerely,
Irina Takhteyeva
National Programme Director
Business Advisory Services Programme
European Bank for Reconstruction and Development (EBRD)
Vladivostok, Russia
February, 2010

To whom it may concern,

I've been working with Retail Solutions since 2005. During this period, Retail Solutions has rendered its services to a number of EBRD generated leads in the retailing sector of the Russian Far East. Some examples of the project assignments included such activities as company screening, strategy evaluation, business diagnostic, due diligence and problem solving for underperforming stores.

We can say that Retail Solutions has always proved to be a team of professionals. They travel intensively during assignments, work hands-on and closely with their clients, capable of understanding regional players and tailor global retail standards to the realities of particular companies and regional markets.

It is important to note separately the excellent quality of their reports, which are always very focused, contain precise analysis and specific recommendations.

Retail Solutions reports have proved to be an important instrument for an investor, as well as to follow up during the project design and project implementation stages.

Elena Danysh
Head of the EBRD office
Russia Far East
January 2010

Almaz Toigonbaev, European Bank-EBRD, Principal Banker, London, England, July 2007:
“Thank you very much for this report. We truly appreciated your highly professional approach to this quite difficult assignment. I am sure we will hire you for many projects in the future.”

Kirill Kuzmichev, Investment Management Officer, Renova Capital, Moscow, April 2007:
“Mr. Vartanian made a presentation to the Board of Directors of Natur Produkt Retail.”
“The recommendations were especially useful in the following areas: Merchandising, Space utilization, product assortment and Store design, store economics.”
“Renova Capital is planning to use services of Retail Solutions in the future.”

Vadim Uzberg, Director of Investments - December 2006:
“My overall impression as well as BVCP Board of Directors opinion was very good of Retail Solutions abilities and experience.”
“Overall we found Art to be a professional who delivered on our expectations and was truly concerned to help us move forward. After the project was completed, Art was cooperative with assistance when needed.”
“I can say that BVCP would not hesitate to hire Retail Solutions once again in the future.”

Bruno Meyer, CEO Eldorado Stores, Moscow, Russia, April 2005:
“My overall impressions were that Mr. Vartanian is a very professional and knowledgeable retailer with broad international experience.”
“Overall, I can say that Mr. Vartanian is competent and effective in multi-store retail chains, which was apparent during this project.”
“I can recommend Retail Solutions to you for any retail industry related consulting projects.”