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            <P align=center><STRONG><BIG><BIG><FONT color=#ffffff>American 
            Russian Law Institute<BR></FONT></BIG></BIG><FONT color=#000080 
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                <P align=center><STRONG><FONT face="Arial Narrow" color=#ffffff 
                size=2>A US-Russian not-for profit public policy research and 
                advisory organization dedicated to promoting legal reform in 
                Russia and newly independent countries of the former USSR,&nbsp; 
                based upon democratic principles, market economy and rule of 
                law</FONT></STRONG></P></BLOCKQUOTE></BLOCKQUOTE></TD></TR></TBODY></TABLE></DIV>
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              <P align=justify><B><FONT size=2>Hon. Sophie Maslow, Mayor of 
              Pittsburgh, Nuriman Sharafetdinov, President of the Russian Legal 
              Academy, Emanuel Zeltser, Director of the American Russian Law 
              Institute, Nuriman Sharafetdinov, President of the Russian Legal 
              Academy, Alla Waters, the graduate of the Academy and Hon John 
              Brosky, President of Pennsylvania Conference of State Trial 
              Judges, announce the start of the historic US-Russian law project 
              at the Pittsburgh City Hall. </FONT></B></P>
              <P align=right><B><FONT color=#000080 size=2><I>Pittsburgh. May 
              21, 1992.</I> AP photo</FONT></B></P></BLOCKQUOTE>
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                  <P align=center><B><FONT 
                  color=#ffff00>TRADE<BR>&amp;<BR>COMMERCIAL<BR>LAWS<BR><I>of 
                  the<BR></I>RUSSIAN<BR>FEDERATION</FONT></B></P></TD></TR>
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                  <P align=center><FONT 
                  color=#ffff00><B>OFFICIAL<BR>CODIFICATION<BR>with<BR>COMMENTARY<BR></B></FONT></P></TD></TR>
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                  <P align=center><B><FONT color=#0000ff size=2>.</FONT><FONT 
                  color=#ffff00 size=2><BR>Oceana Publications, Inc.<BR>© 1993, 
                  1995<BR></FONT><FONT color=#0000ff 
              size=2>.</FONT></B></P></TD></TR>
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                  <P align=left><FONT size=3><FONT face="Arial Narrow" 
                  color=#ff0000><STRONG>ARLI on Capitol 
                  Hill</STRONG></FONT><BR></FONT><STRONG><IMG height=136 
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                  <P align=justify><FONT face="Arial Narrow" size=2><A 
                  href="http://russianlaw.org/022.htm">Congressional Statement 
                  of Emanuel Zeltser, Director and&nbsp; General Counsel of 
                  ARLI</A></FONT></P></TD></TR>
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                <TD borderColor=#ffff00 width="100%" bgColor=#ffffff>&nbsp; 
                  <P>&nbsp;</P>
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                  <P align=center><IMG height=58 
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                  border=0><BR><FONT color=#0000ff><SMALL>Copyright © by 
                  American Russian Law Institute<BR>All rights 
                  reserved</SMALL></FONT></P>
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