The Global Offer will consist of both a primary offering of ordinary shares by GPI and a sale of shares by Transportation Investments Holding Limited (“TIHL” or the “Selling Shareholder”) in the form of GDRs, with one GDR representing an interest in three ordinary shares.

The price range for the Global Offer is from USD 14.70 to USD 16.10 per GDR.

The Global Offer is expected to comprise approximately 35.5 million GDRs representing an offer size of between USD 524 million and USD 572 million before exercise of the over-allotment option. GPI intends to raise gross proceeds of approximately USD 100 million via the issuance of new shares, with the majority of the Global Offer comprising existing shares to be sold by TIHL.

The Global Offer implies a pre-money equity value for GPI of between USD 2.2 billion and USD 2.4 billion.

The Selling Shareholder will grant to the Joint Bookrunners an over-allotment option to purchase at the offer price additional GDRs representing up to 10% of the GDRs sold in the Global Offer to cover over-allotments, if any, in connection with the offering.

Following the Global Offer, GPI’s free float is expected to be approximately 25% of its issued share capital assuming full exercise of the over-allotment option.

GPI intends to use the net proceeds of the Global Offer to fund its capital investment programmes in the Russian ports segment.

Deutsche Bank, Goldman Sachs International, Morgan Stanley and Troika Dialog are serving as the Joint Global Coordinators and Joint Bookrunners of the Global Offer.

Commenting on today’s announcement, Nikita Mishin, Chairman of GPI’s Board of Directors, said:

“The IPO is an important step forward for Global Ports and will provide a solid platform for the continued growth of our business as we move to extend our leadership position. By listing in London our aim is to provide investors with access to a fast-growing industry in one of the world’s most attractive emerging economies.”

A complete evaluation of the new offer terms will be presented by the Management Board and Supervisory Board of Demag Cranes AG in a supplementary statement pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) presumably until 22 June 2011. The increase in the offer price from EUR 41.75 to EUR 45.50 per share announced by Terex is part of a Business Combination Agreement signed today by Terex and Demag Cranes after the approval by their relevant boards. The agreement ensures broad operational and strategic autonomy to Demag Cranes even after Terex has acquired a majority interest in the company. The agreement additionally improves the offer document dated 19 May with regard to the intentions and objectives of the possible takeover, particularly with a view to the future strategy of Demag Cranes and the interests of the company’s stakeholders. Moreover, the document includes detailed commitments for the period after a possible integration of Demag Cranes into Terex Group. Demag Cranes’ Chief Executive Officer Aloysius Rauen: “Apart from a significant increase of the offer price, we achieved important assurances by Terex regarding the interests of our employees, which in total significantly improve the original offer.”

Specifically, the two parties agreed on the following points:

After a majority takeover by Terex, Demag Cranes will remain an independent operating segment within Terex Group pursuing its existing business activities. Strategic and operational responsibility for the business will remain with the management board.

Terex fully supports Demag Cranes’ strategy and will back its continued implementation in order to further strengthen the leading position of Demag Cranes in its current business segments. Besides the Management Board’s plan to develop the mid-market segment, this includes further expansion in emerging markets and notably the further pursuance of the planned strategic alliance between Demag Cranes and Weihua in China.

For a period of three years, Terex guarantees that it will not cause Demag Cranes to announce enforced redundancies as a direct result of the transaction. In addition, Terex pledges to fully uphold shop agreements and collective bargaining agreements as well as other employee rights.

Demag Cranes’ headquarters will remain in Düsseldorf. For Demag Cranes’ German production sites Wetter, Düsseldorf, Uslar and Luisenthal Terex gave a site preservation guarantee for five years.

The strong and successful brands Demag and Gottwald will be preserved.

As innovation and technology leader in its industry, Demag Cranes will continue to take responsibility for its research and development activities in the future. Even after the possible acquisition of a majority shareholding and until the effectiveness of a Domination Agreement, Demag Cranes Group will retain its full financial autonomy, including decisions about the dividend policy.

After the proposed takeover, Demag Cranes will be represented by its CEO in the executive leadership team of Terex Group.

CEO Aloysius Rauen comments: “Also as part of the Terex Group, Demag Cranes will be able to further pursue its clear and successful growth strategy in the integrated structures we have built. We will additionally profit from access to international markets as well as the Terex Group’s network. Therefore, the transaction Terex intends to undertake will create value for all of our stakeholders.”

The new film contains interviews with Chairman Roger Mountford, Chief Executive Bob Goldfield and representatives from the British Ports Association, Road Haulage Association and local community.  The film explains the background to and nature of our privatisation scheme, including the PDCT and Employee Share Ownership Scheme

You can download it here: http://www.youtube.com/watch?v=Z8mfIzQp7Y0

“As the NSW economy continues to grow so does the demand for bulk liquids such as refined petroleum products, chemicals and gases for domestic and industrial use.

“That’s why Sydney Ports is doubling the port’s capacity to handle these products by constructing a second bulk liquids berth (BLB2) at Port Botany. “The existing Bulk Liquids Berth at Port Botany was constructed in 1979 and is the only one of its kind – an open access, multi user berth for the import and export of chemicals, LPG and refined fuels in NSW. “This new $80 million facility will ensure that NSW has adequate berth capacity to satisfy future demands for the import and export of bulk liquids,” Mr Gilfillan said. Tenders for the construction of the Bulk Liquids Berth 2 were requested from four shortlisted companies in December 2010 and closed in February 2011.  Following an extensive evaluation process, the Board of Sydney Ports Corporation approved the award of the construction contract to John Holland. John Holland is one of Australia’s leading engineering, contracting and services providers to the infrastructure, energy and resources and transport services sectors. “With over 60 years experience John Holland has a proven track record in delivering worldclass marine infrastructure,” Mr Gilfillan said. “Their recent work includes the delivery of some of the most challenging port projects in Australia, such as the recently completed Dalrymple Bay Coal terminal expansion and ongoing works constructing marine and offloading facilities as part of Gladstone LNG’s proposed Curtis Island LNG facility and the Kooragang Island terminal expansion in Newcastle.” Mr Gilfillan said that continued growth, particularly in the import of refined fuels, had led to the average berth occupancy level at the existing Berth frequently exceeding 65% over the last four years. “This project will also help meet the long term demand for products such as Jet Fuel which is forecast to grow at an average rate of over 4 per cent for the next 20 years.

“As such, the construction of the Bulk Liquids Berth 2 at Port Botany is a key strategy in securing the state’s energy supply over the medium to long-term,” Mr Gilfillan concluded.

Key Facts

The Bulk Liquids Berth 2 has been designed to accommodate larger vessels of up to 120,000 dead weight tonnes and a maximum length of 270 metres;

It includes state of the art fire fighting equipment, onshore support facilities and security monitoring systems;

The new berth will be built to allow the two berths to operate independently of each other;

Construction is due to commence in June 2011 and the berth is expected to be operational for trade in mid 2013.