Krasny Selo was formed in June 2006 in the Isle of Man to develop primarily commercial properties in the office and warehouse/light industrial sectors of the Moscow and Moscow region property arena. The Company has acquired one project and is negotiations in relation to two others. These development opportunities are in prime locations; the directors expect them to be landmark developments on completion and to show excellent development returns. The Company's team of international and local property professionals has a proven track record. It is headed by Managing Director Aleksei Permitine, who has been an active property developer in the Moscow property market since 1989.