Cetinje, May 5, 2007 — A delegation of foreign investors including members, close relatives and collaborators of descendants from the Petrovic Dynasty, came to visit Montenegro. After visiting King Nikola’s Palace in Cetinje, the Mayor of the old Royal Capital, Dr Milovan Janković, received the group of about fifteen persons headed by H.R.H. Prince Nicolas II Petrovic Njegos in the Vladin dom, the former House of Government.

Besides Crown Prince Nicolas, the delegation included H.S.H. Dmitri Romanovich Prince Romanovsky-Cheremetev [1], with his wife Dorrit Reventlow — grandson [2] of Princess Milica Petrovic Njegos who married Pjotr Nikolaevich Romanov Grand Duke of Russia, grandson of Tsar Nikolaï I Pavlovich — and Alessandro Grimaldi, close cousin [3] of Albert II Grimaldi, Sovereign Prince of Monaco. There were accompanied by about ten investors, among them a representative from the Fleming Bank, founded by the family of famous British novelist Ian Fleming, creator of James Bond 007. The trip of this prestigious delegation was organised by the Monaco office of the Bahamas-registered real estate investment company Boka Fund Ltd. [4] , in close co-operation with the Montenegro Stars Hotel Group and its co-owner Žarko Radulović.

“Boka Fund Ltd. has been present in Montenegro for more than a year with several projects. Now the delegation comes to see what has been achieved, and to view new projects for future investments. We wish to invest in high-end touristical and ecological projects. Investors come in general from Monaco, and they well-know what does investing in high-end touristical projects mean. Up to now, investments in Montenegro were generally limited to purchase attractive plots”, John Kennedy, co-founder of Boka Fund Ltd. [5], said. “The realisation of these projects will start in October 2007. Until then, we still have to do all what is necessary to obtain the required approvals and building licences. We planned the construction of modern summer houses in accordance with ecological standards, and an apartment complex above Sveti Stefan and Hotel Splendid at Becici. We also have in preparation a significant investment project between Tivat and Kotor. It will be a touristical-residental complex. Investors interested in this project are coming to Montenegro on Monday, May 7. Another project is planned at the entrance of the Lovcen National Park. There are several projects more, but presently they are uncertain”, John Kennedy explained.

Mrs. Christie Prenn, an investor from Monte-Carlo, did not hide her enthusiasm with Montenegro’s beauties, that she discovered for the first time.

“I’m extremely impressed! Montenegro is a unique place. People are in high spirits, hospitable and sincere, and nature is extraordinary. It’s the first time I come to Montenegro, but I have already invested here by the way of Boka Fund Ltd. Now I come to see the country by myself, and I’m glad to invest here. We have decided to invest in this marvellous country because we engage ourselves in ecological and cultural projects”, Christie Prenn said. “Monaco is a state which has adopted the highest ecological standards and which constructs buildings together with our Prince. It’s exactly what I have noted in Montenegro, a very young country, at the same time an ecological state. Projects in which we invested, are in general on the seaside, but I hope that we will have the opportunity in a near future to invest in projects in other parts of your marvellous country. I heard that there are exceptional mountainous landscapes, which are both attractive in summer as well as in winter.”

Planned investments are between €50 to €100 million by project. Some of them will exceed this amount, but then they will be under a special regime of investing.

Prince Nicolas II Petrovic Njegos is engaged in Boka Fund Ltd. as Consultant Architect. He, together with John Kennedy, directed significant investors toward Montenegro. He especially underlines significance of the way how to construct in Montenegro. He above all engaged himself for a recognisable architecture, distinctive for this area and applicable in all times, not only for shorter period. “We opted for an ecological architecture. We are trying to use in our projects only natural materials — stone and wood, as well as to maximise the use of natural energy sources, particularly sun. My task is to advise investors to build here constructions which are in adequation with its space, and not, as some announcements said, a ‘Dubai on the Velika Plaza near Ulcinj’ [6]”, Prince Nicolas said.

This evening, in the restaurant “Window of Montenegro” of Hotel Splendid at Becici, a formal dinner is to be prepared for the members of the delegation, who will be received on Monday in Kotor by Mayor Marija Catović.