<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:p="urn:schemas-microsoft-com:office:powerpoint" xmlns:oa="urn:schemas-microsoft-com:office:activation" xmlns:st1="urn:schemas-microsoft-com:office:smarttags" xmlns="http://www.w3.org/TR/REC-html40"
xmlns:ns0="urn:schemas-microsoft-com:office:smarttags" xmlns:ns1="">
<head>
<META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=us-ascii">
<meta name=Generator content="Microsoft Word 11 (filtered medium)">
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="country-region"/>
<o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags"
name="place"/>
<!--[if !mso]>
<style>
st1\:*{behavior:url(#default#ieooui) }
</style>
<![endif]-->
<style>
<!--
/* Font Definitions */
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman";}
h1
{mso-margin-top-alt:auto;
margin-right:0in;
mso-margin-bottom-alt:auto;
margin-left:0in;
font-size:24.0pt;
font-family:"Times New Roman";}
a:link, span.MsoHyperlink
{color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{color:blue;
text-decoration:underline;}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:Tahoma;
color:navy;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.25in 1.0in 1.25in;}
div.Section1
{page:Section1;}
-->
</style>
<!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body bgcolor=white lang=EN-US link=blue vlink=blue>
<div class=Section1>
<div>
<p class=MsoNormal style='text-align:justify'><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300'>AVC
Advisory together with MASA International, a Costa Blanca-based Spanish Real Estate
Agency, are conducting a seminar entitled <o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><b><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300;
font-weight:bold'>“Property in <st1:place w:st="on"><st1:country-region
w:st="on">Spain</st1:country-region></st1:place>: Investment, Leisure, Visa
and Residence” <o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-align:justify'><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300'>to
be held on May 26, 2005 in the Moscow Marriot Grand Hotel at 19:30. <o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=4 color="#003300"
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:#003300'>The
online registration is available at </span></font><u><font size=4 color=blue
face=Verdana><span style='font-size:14.0pt;font-family:Verdana;color:blue'><a
href="http://www.avcadvisory.com/seminar.php"
title="http://www.avcadvisory.com/seminar.php"><font face=Tahoma
title="http://www.avcadvisory.com/seminar.php"><span
title="http://www.avcadvisory.com/seminar.php"><span style='font-family:Tahoma'>www.avcadvisory.com/seminar.php</span></span></font></a>.</span></font></u><o:p></o:p></p>
<p class=MsoNormal><font size=2 color=navy face=Tahoma><span style='font-size:
10.0pt;font-family:Tahoma;color:navy'><o:p> </o:p></span></font></p>
</div>
</div>
</body>
</html>