Hagler Bailly Consulting, Inc.

1530 Wilson Boulevard, Suite 900
Arlington, Virginia 22209-2406
Telephone: (703) 351-0300
Fax:(703)351-0342


9 May, 1997

TO: Whom it May Concern

SUB: Letter of Reference for Energy Efficient Systems (EES) ltd.

I am pleased to provide this letter of reference for EES Ltd., a Bulgarian company, which has been associated with Hagler Bailly Consulting over the past four years. EES Ltd. was a subcontractor to Hagler Bailly on the USAID sponsored Energy Efficiency and Market Reform Program for Eastern Europe. As one of our prime subcontractors in Bulgaria, EES provided the following services:

We have been extremely gratified by the professional level of support and assistance provided by EES Ltd. of Bulgaria, and I would recommend the firm for future consulting assignments.

Michael Ellis
Principal