CEEBIC CLOSING DOWN BY SEPTEMBER 2005

Dear CEEBIC clients,

After nearly 14 years of service, CEEBIC will be closing down its operations in 8 cities in Central and Southeastern Europe, effective September 30, 2005.

Created in 1991 under the Support for East European Democracy Act (SEED), CEEBIC has become over the years the primary resource center for U.S. companies exploring business opportunities in Central and Southeastern Europe, facilitating over $1.5 billion of exports and investment.

The SEED Act was designed to help the countries of Central and Southeastern Europe make the transition to market-based democracies. CEEBIC has made an important contribution to that effort, and the business environment in many countries in Central and Southeastern Europe is markedly better than it was in 1991. In recognition of this progress, economic assistance programs in Central and Southeastern Europe are declining, with funding for some, including CEEBIC, phasing out. No alternative source of funding has been forthcoming by the time this statement went to print.

Although CEEBIC will be gradually phasing out its operations, it will remain active through September 2005. CEEBIC's hardworking staff will organize and speak at events both overseas and in the United States, distribute useful information and leads to help companies find business opportunities and partners, and make referrals to relevant U.S. government programs and other resources-in short, continue to play a unique role in fostering commercial relations between the United States and Central and Southeastern Europe.

U.S. Commercial Service offices in Bulgaria, Croatia, Serbia and Montenegro, and Romania -as well as in Washington, D.C., and throughout the United States-remain available to assist U.S. exporters interested in the region.

CEEBIC would like to thank all those who supported it through the years and wish you luck in your future endeavors.