BUSINESS ACTIVITIES

COMMERCIAL ACTIVITY

Mr. ÇELAJ starts practicing business activity at the age of 23, immediately after taking his degree in Business from Tirana University in 1991. The first two years of activity are manly concentrated on trade. He seeks to fulfill the market needs through goods from import.

Commercial activity had a burst in 2001 after the Commercial Center RIVIERA in Vlora became operational. RIVIERA is unique in the sense there is no other Commercial Center in Albania similar to it. Mr. ÇELAJ is the sole proprietor of the Commercial Center RIVIERA. Part of the center is rented and the other part is managed by Mr. ÇELAJ's family members. Today commerce continues to be an important part despite its secondary role in the overall businesses owned and managed by him.

In 2003 the company SIMPLE is incorporated. It is Italian-Albanian cooperation. The main business consists on import-exporting. The company trades mainly groceries. Mr. ÇELAJ owns 50% of the shares of the company.

CONSTRUCTION ACTIVITY

After two years of successful commercial activity he expands the scope of activity entering construction market. The activity starts with building of condominiums in the city of Fier, one ex-industrialized city in Albania. Looking to the construction market as a market with a bright future, he creates in 1995 the Construction Company RIVIERA where he is the sole proprietor.

RIVIERA is a huge success. It quickly expands its scope from condominiums construction to construction of many private and public objects. In the curriculum of the firm nowadays are roads, hospitals, schools, business centers, tourist objects, condominiums etc. RIVIERA is become one of the biggest construction business in ALBANIA. Last year only, the revenue generated by this business totaled on around 12 million USD.

INSURANCE ACTIVITY

Insurance business started in year 2001 when the Insurance Company ATLANTIK sha is found. The company is licensed for property and causality insurance only. Mr. ÇELAJ holds 95.1% of the shares in the Company.

The operation started in a small scale, covering during the first year of activity only 3 regions. The second and the third years the company managed to grow very quickly. Nowadays, ATLANTIK is an important player in the Albanian Insurance industry. According to official figures, during 2004, ATLANTIK held around 15% of the total Albanian Insurance market.

TOURISM ACTIVITY

Looking to the explosive growth of tourist activity in Albania, Mr. ÇELAJ decided to start up a tourist activity. Vlora, the largest city in the South Albania, placed near the seaside and one of the most attractive tourist destinations in Albania is chosen as the place to start. The activity started with the construction of Hotel RIVIERA in 1998. Mr. ÇELAJ is the sole proprietor of the activity. The hotel is managed by a family member of Mr. ÇELAJ.

During the first year of activity the hotel acted passively. Tourists mainly Albanians, came in the hotel occasionally. In order to establish the business, in 1999 the tourist agency DALLANDYSHE is created. The agency's primary activity is to bring in the hotel tourist from abroad (mainly Albanians from Kosovo and FYROM). The agency now acts as a full service agency selling tourist services and tickets for many destinations. Both activities are now consolidated. The hotel is almost fully booked during summer time.

BANKING

Banka Populore (The Popular Bank) is a new bank founded by a group of Albanian Businessmen. Mr. ÇELAJ is one of the shareholders in the bank. The business is incorporated in March 2004. It started with one Branch in Tirana and quickly expanded with 10 branches all around Albania. The aim of its shareholder is to make the bank, the number one bank in Albania. The Business Plan for the year 2005 planed the opening of 15 new branches becoming so the second largest banking network in Albania.

HOTEL

The Tirana International Hotel is the largest hotel in Albania. It is placed in the center of Tirana, the Capital of Albania. The hotel is privatized in May 2004 by a group of Albanian businessmen. Mr. ÇELAJ is one of the shareholders of the hotel. During the first year of activity the hotel passes through a phase of reconstruction. Despite that, the hotel managed to achieve a profit of USD 100,000. The Business Plan for the year 2005 planed the continuation of investment and a forecasted a profit of USD 1,000,000.

SECURITY ACTIVITY

The Aulona Police, an object and body security business is created in 1999. The business now is consolidated and has under custody many activities in all parts of Albania. The business is funded by Mr. ÇELAJ and managed by a family member of him.