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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"><img border="0" src="New_Folder2/home.jpg" width="87" height="19"><a href="http://www.russianlaw.org/message.htm"><img border="0" src="New_Folder2/arli_t1.jpg" width="87" height="20"></a><a href="http://www.russianlaw.org/reform.htm"><img border="0" src="New_Folder2/arli_t3.jpg" width="87" height="20"></a><a href="http://www.russianlaw.org/bylaws.htm"><img border="0" src="New_Folder2/arli_t4.jpg" width="87" height="20"></a><br>
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                <p align="center"><b><font color="#ff0000" size="4"><strong>PRESS
                ROOM</strong></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="justify"><b>ARLI experts are available on
                        short notice to provide authoritative, informative and
                        unbiased opinions on any issue of Russian law, business,
                        politics, organized crime and US-Russia relations. Our
                        fellows appeared in major media, including CNN, Fox News
                        Channel, Voice of America, Radio Free Europe/Radio
                        Liberty, New York Times, Wall Street Journal USA Today,
                        ABC-TV (Australia), NTV and many others. We also were
                        called upon by the House Committee on Banking and
                        Financial Services to provide expert testimony on money
                        laundering and organized crime matters in Russia and to
                        assist in drafting of the anti-money laundering bill.&nbsp;&nbsp;</b></p>
                        <p align="justify"><font color="#ff0000"><b>HOT TOPICS:</b></font></p>
                        <p align="justify"><font color="#000080"><img src="New_Folder2/bd10268_.gif" border="0" width="12" height="12">&nbsp;&nbsp;
                        Terrorism in Russia<br>
                        <img src="New_Folder2/bd10268_.gif" border="0" width="12" height="12">&nbsp;&nbsp;
                        Is Putin steering Russia back to totalitarian rule?<br>
                        <img src="New_Folder2/bd10268_.gif" border="0" width="12" height="12">&nbsp;&nbsp;
                        Yukos downfall<br>
                        <img src="New_Folder2/bd10268_.gif" border="0" width="12" height="12">&nbsp;&nbsp;
                        War in Chechnia&nbsp;<br>
                        <img src="New_Folder2/bd10268_.gif" border="0" width="12" height="12">&nbsp;&nbsp;
                        Ukraine-Russia Natural Gas Crisis</font></p>
                        <p align="justify">&nbsp;</p>
                        <p align="justify">&nbsp;</p>
                        <p align="center"><b>You may contact us via&nbsp;<br>
                        phone (212) 767-0700<br>
                        or e-mail:mzmus@aol.com <a href="mailto:mzmus@aol.com</a>&nbsp;</b></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="New_Folder2/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>
        <p align="justify">&nbsp;</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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