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<title>TOTAL SOLUTION TO AMERICAN ATTORNEY'S RUSSIAN LAW NEEDS</title>
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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></td>
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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></td>
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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></td>
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                              <p align="JUSTIFY"><strong><a href="http://www.russianlaw.org/masloff_reception.htm"><font color="#000080"><font 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></font></a></strong>
                              <p align="JUSTIFY">&nbsp;</td>
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                              <p align="center"><strong><font face="Times New Roman" size="2" color="#FFFFFF">.</font><font color="#FF0000" face="Times New Roman" size="2"><a href="http://russianlaw.org/022.htm"><br>
                              <br>
                              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 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>
        <font face="Arial Narrow" size="2"><strong><br>
        </strong></font>
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                    <p align="center"><b><font color="#0000ff"><font size="6">American
                    Russian Law Institute</font><font size="2"><br>
                    </font></font><font size="1"><font color="#ffffff">______________________________________________________________________________________________________________</font><font color="#0000ff"><br>
                    </font></font><font color="#0000ff">A not-for-profit tax
                    exempt public policy research and advisory organization</font></b></p>
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          <p align="center"><b><strong><font size="3" color="#000080">WHEN IT
          COMES TO DOING BUSINESS&nbsp;<br>
 IN&nbsp;RUSSIA, DON'T TAKE CHANCES!</font></strong></b></p>
    <p align="left">&nbsp;</p>
          <blockquote>
                              <p align="JUSTIFY"><font color="#000080">ARLI
                              maintains a free referral service for attorneys,
                              companies, not-for-profit organizations and
                              individuals in need of consult and assistance in
                              any area of Russian law, business and finance.
                              Depending on your particular needs, we can refer
                              you to attorneys, experts and service
                              organizations who can help you successfully deal
                              with any problem related to Russian law. We refer
                              you only to ARLI accredited members, who are seasoned professionals
                              and are certified by ARLI as
                              meeting the highest standards of expertise in
                              their respective fields.</font>
                              <p align="JUSTIFY">&nbsp;
    <p align="left"><font color="#000080" size="2"><strong><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"> 
    Russian-speaking American attorneys <br>
    <img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Russian law research and consulting<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Expert witnesses on Russian law and customs<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Russian documents
    examination and authentication<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Legal translations: documents, pleadings, depositions, trials <br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b>
    Representation in all courts of the former USSR <br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Service of
    process in Russia and former USSR countries<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Contacts in the Russian Federation and countries of the former USSR<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Investigations
    anywhere in the former USSR<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Investments and
    business projects in Eastern Europe<br>
    </b></strong></font><strong><font size="2" color="#000080"><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15">
    Privatization<br>
    <img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15">
    Establishing Joint Ventures and Subsidiaries<br>
    <img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" width="15" height="15"> Project
    Finance<br>
    </font></strong><strong><font size="2" color="#000080"><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15">
    Litigation and Arbitration<br>
    </font></strong><strong><font size="2" color="#000080"><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15">
    Acquisitions and Divestitures</font></strong><font color="#000080" size="2"><strong><b> 
    <br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Real estate and
    hotels in Russia <br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Russian governmental
    matters and disputes<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> 
    Russian permits and
    licenses<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" WIDTH="15" HEIGHT="15"><b> Russian tax
    matters<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" width="15" height="15"><b> 
    Russian adoption law<br>
    </b><img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" width="15" height="15">
    Securities and Capital Market Transactions<br>
    <img src="New_Folder2/clipred.gif" alt="clipred.gif (854 bytes)" width="15" height="15"></strong><b> <strong>
    More...</strong> </b></font></p>
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        <p align="left"><strong><font color="#800000" size="2">Contact us: </font></strong></p>
        <p align="left"><b><font color="#000080" size="2"><strong>250 West 57
        Street, Suite 719<br>
        New York, NY 10107<br>
        tel / fax: 212-656-1810<br>
        e-mail: <a href="mailto:lawmail@mail.ru">lawmail@mail.ru</a>&nbsp;</strong></font>
        </b></p>
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