Țuca Zbârcea & Asociații`s total revenues have tripled in 2006

Țuca Zbârcea & Asociații, the law firm, has reported a substantial increase in turnover to 8.7m Euros for 2006, tripling their earnings for 2005. According to Gabriel Zbârcea, Managing Partner with Țuca Zbârcea & Asociații, "the firm sent invoices amounting to 8.7m Euros for legal services carried out in 2006, of which 7.4m Euros have, so far, been collected. Receivables amounting to the value of 1.3m Euros have been invoiced for legal work we completed during the last months of 2006 and will be collected this year."

Founded in March 2005, the firm recorded a healthy turnover of 3.3m Euros by the end of 2005, of which 2.9m Euros were collected. For 2007, the firm's representatives have set a target of 12m Euros as income revenue.

In 2006, Țuca Zbârcea & Asociații `s most profitable areas of work were in real estate, litigation, competition, corporate, mergers & acquisitions. The firm has had a productive year in terms of business in almost every area of practice. The real estate department alone was involved in real estate transactions and development projects totalling more than 1bn Euros in value, including an 80m Euro disposal of the Charles de Gaulle Plaza, a 50m Euro equity acquisition of Bucharest Business Park, a 40m Euro disposal of the Millennium Business Centre. Currently, the firm is advising Africa Israel in connection with the development of Cotroceni Park, one of the largest commercial centres in Bucharest; the total investment amounts to more than 200m Euros.

Țuca Zbârcea & Asociații `s turnover last year clearly demonstrates the firm's growing capabilities while continuing to offer a high quality service to a growing client base. The firm's upbeat financial results were also strengthened by an effective recruitment strategy. The firm has almost doubled its manpower since 2005 and will seek to continue identifying and recruiting the best lawyers on the market, according to Gabriel Zbârcea, Managing Partner.