KYIV, 19 May 2008 – Ernst & Young, the leading audit and advisory firm in Ukraine, announced today the opening of its second office in Kyiv and the expansion of its advisory practice in Ukraine. In addition to the office on 19A Khreschatyk St., an office on 7 Mykhailivska St. will also operate.

“Over the last few years, demand for advisory services – tax and legal, valuation, IPO support, M&A support, and due diligence – has substantially increased," said Alexei Kredisov, Country Managing Partner of Ernst & Young Ukraine. "The Tax & Legal and Transaction Advisory Services departments delivering these services, as well as the Academy of Business (open and corporate seminars), have moved to the new office at 7 Mykhailivska St. Given the steady growth of our services and practice, we are giving more attention to learning and professional development programs for our people. At Ernst & Young, everything starts with our people.”

The Assurance and Business Advisory Services department will remain in the office at 19A Khreschatyk St. and will operate from there.

Over the almost 17 years of Ernst & Young’s operation in Ukraine, the number of personnel has grown to over 500 specialists. Since 2005, Ernst & Young staff has increased by 2.5 times, and the need for additional office space has become apparent – the more so when taking into account the projected increase of personnel over summer 2008. The company plans to hire 120 young specialists and recent graduates into Assurance, Tax & Legal and Transaction Advisory Services.

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Natalia Partach -  Ernst & Young PR Specialist
(044) 490 3000 Natalia.Partach@ua.ey.com

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential.

In Ukraine Ernst & Young established its practice in 1991. Ernst & Young Ukraine now employs more than 500 professionals providing a full range of services to a number of multinational corporations and Ukrainian enterprises. For more information, please visit www.ey.com/ukraine.