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                <p align="center"><b><strong><font size="6" color="#0000FF">American
                Russian Law Institute</font></strong><font size="2"><br>
                </font><font size="2" color="#0000FF">A
                not-for-profit tax exempt public policy
                research and advisory organization</font><font size="2" color="#FF0000"><br>
                </font><font size="2" color="#FFFFFF">.</font></b>
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                                                <p align="center"><font color="#0000ff">Russian
                                                Law, Russian Politics, Russian
                                                Business</font><b><font color="#0000ff"><br>
                                                </font><font color="#ffff00">TRADE<br>
                                                &amp;<br>
                                                COMMERCIAL<br>
                                                LAWS<br>
                                                <i>of the<br>
                                                </i>RUSSIAN<br>
                                                FEDERATION<br>
                                                </font><font color="#0000ff">.</font></b></p>
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                                                <p align="center"><b><font color="#000000">.</font><font color="#ffff00"><br>
                                                OFFICIAL<br>
                                                CODIFICATION<br>
                                                with<br>
                                                COMMENTARY<br>
                                                </font><font color="#000000">.</font></b></p>
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                                                <p align="center"><b><font color="#0000ff" size="4">.<br>
                                                </font><font color="#ffff00" size="2"><br>
                                                Oceana Publications, Inc.<br>
                                                © 1993, 1995<br>
                                                </font><font color="#0000ff" size="4">__________<br>
                                                ____________________</font></b></p>
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                            <p align="justify"><strong><a href="http://www.russianlaw.org/masloff_reception.htm"><font color="#000080" size="1">The
                            first official English language reference source of
                            Russian commercial laws. Compiled, translated and
                            codified by the staff of American Russian Law
                            Institute: Emanuel E. Zeltser, Esq., Anna Reid, LL.M.,
                            LL.D., and Alexander Fishkin, LL.D.&nbsp; together
                            with the Academy of&nbsp; the Ministry of Justice of
                            Russia, and&nbsp; the Law School of the University
                            of Pittsburgh</font></a></strong></p>
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                      <blockquote>
                        <p align="center"><font color="#800000" size="3"><b>MESSAGE
                        FROM THE HON. NIKOLAY FEDOROV MINISTER OF JUSTICE
                        OF&nbsp;<br>
                        THE RUSSIAN FEDERATION</b></font></p>
                        <p>&nbsp;</p>
                        <p align="justify"><font size="3">A new era has begun in
                        Russian history. Russia is ascending to a law based,
                        federative, democratic, market state. Economic and
                        political structures are changing dramatically. The
                        transitional period from communist doctrines and
                        totalitarism to diametrically different political and
                        legal, social and economic realities is very
                        complicating and contradicting. Effectiveness and
                        fruitfulness of such global social changes are
                        impossible without a total and radical transformation of
                        the legal area. This tendency today may be seen in the
                        profound legal reform which embraces all aspects of life
                        in our society.</font></p>
                        <p align="justify"><font size="3">The main direction of
                        legal reform in Russian Federation may be defined as
                        follows: in philosophy and sociology - doctrines of
                        natural and inalienable human rights; in economics and
                        politics - restriction of expansion of state by law; in
                        law and state - separation of powers, constitutionalism,
                        superiority of law. Summing up, one may say that the law
                        is becoming a part of culture.</font></p>
                        <p align="justify"><font size="3">It is obvious that the
                        process of establishing new legislation in Russia is
                        complicated by the fact that the world practice does not
                        know precedents of such a large scale replacement of one
                        legal system by the diametrically different one. In
                        addition, this has to be done very fast without halting
                        political, economic, legal, social and other aspects of
                        life in the society. Absence of world experience in this
                        respect excludes availability of the precise recipes
                        aimed to lead to the final goal.</font></p>
                        <p align="justify"><font size="3">Our goal at ARLI is to
                        give an opportunity to foreign lawyers, businessmen,
                        scholars and politicians to receive direct access to
                        Russian legislation and enable them to apprehend modern
                        legal realities in the Russian Federation. Progress of
                        international relations of Russia with the world
                        community directly depends upon acquaintance of our
                        foreign partners with Russian legislation in effect.
                        ARLI provides the missing link and serves like a compass
                        to enable you to choose the right direction leading
                        through the legislation to mutual understanding,
                        cooperation and entrepreneurial success in Russia.</font></p>
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        <p align="center"><strong><font color="#FF0000" face="Times New Roman" size="2"><a href="http://russianlaw.org/022.htm">ARLI
        ON CAPITOL HILL</a></font></strong><a href="http://russianlaw.org/022.htm"><br>
        <img border="0" src="congress.jpg" width="140" height="136"></a></p>
        <p align="justify"><a href="http://russianlaw.org/022.htm"><font face="Times New Roman" size="1"><strong>ARLI
        Director, Emanuel Zeltser, addresses the House Banking Committee at the
        hearing on the Bank of New York Russian Organized Crime and Money
        Laundering Matters&nbsp;</strong></font></a></p>
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        <p><font face="Times New Roman" size="6" color="#FFFFFF">.</font>
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        <p align="justify"><font color="#000080" size="2">Hon. Sophie Masloff,
        Mayor of Pittsburgh (left), Emanuel Zeltser, Director of American
        Russian Law Institute (center), and Nuriman Sharafetdinov, President of
        the Russian Legal Academy (right) announce the start of the historic
        US-Russian law project at the Pittsburgh City Hall.</font></p>
        <p align="center"><font color="#000080" size="2"><i>Pittsburgh. May 21,
        1992.</i> AP photo<br>
        [click on photo to enlarge]<br>
        </font></p>
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        <p align="center"><font size="2" color="#000080">© 2006 American
        Russian Law Institute, Inc.<br>
        All rights reserved</font></p>
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