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<p class=MsoNormal><b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;font-weight:bold'>Dear Colleagues
& Friends,<o:p></o:p></span></font></b></p>
<p class=MsoNormal><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon'><o:p> </o:p></span></font></p>
<p class=MsoNormal><b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;font-weight:bold'>There is a New
Enrollment STARTED for Moscow-based MBA students <u><font color=navy><span
style='color:navy'>YOU ARE VERY WELCOME TO JOIN NOW!<o:p></o:p></span></font></u></span></font></b></p>
<p class=MsoNormal><b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;font-weight:bold'><br>
Since the very beginning of the Programme</span></font></b><font size=2
face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:Arial'> ‘<st1:place
w:st="on"><st1:country-region w:st="on"><b><i><u><font color=maroon><span
style='color:maroon;font-weight:bold;font-style:italic'>Russia</span></font></u></i></b></st1:country-region></st1:place><b><i><u><font
color=maroon><span style='color:maroon;font-weight:bold;font-style:italic'>’s
Business Leaders</span></font></u></i></b><i><u><span style='font-style:italic'>
<b><font color=navy><span style='color:navy;font-weight:bold'>of Tomorrow’</span></font></b></span></u></i>
<o:p></o:p></span></font></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>AIBEC
STUDENTS</span></font></b><b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;font-weight:bold'> have constituted
the <font color=navy><span style='color:navy'>VAST MAJORITY</span></font> of
its <font color=maroon><span style='color:maroon'>ACTIVE MEMBERS</span></font>
in its</span></font></b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial'> <b><u><font color=maroon><span
style='color:maroon;font-weight:bold'>1<sup>st</sup> Enrollment 2004-2005</span></font></u>:
<u><font color=maroon><span style='color:maroon'>11 out</span></font><font
color=navy><span style='color:navy'> of</span></font> <font color=navy><span
style='color:navy'>35</span></font></u></b> representing along with AIBEc such <o:p></o:p></span></font></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>MBA Programmes
as:</span></font></b><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>1. <st1:PlaceType w:st="on">State</st1:PlaceType> <st1:PlaceType
w:st="on">University</st1:PlaceType> Higher <st1:PlaceType w:st="on">School</st1:PlaceType>
of <st1:PlaceName w:st="on">Economics</st1:PlaceName> /<st1:place w:st="on"><st1:PlaceName
w:st="on">HSE</st1:PlaceName> <st1:PlaceName w:st="on">Business</st1:PlaceName>
<st1:PlaceType w:st="on">School</st1:PlaceType></st1:place><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>2. <st1:place w:st="on"><st1:PlaceName w:st="on">Stockholm</st1:PlaceName>
<st1:PlaceType w:st="on">School</st1:PlaceType></st1:place> of Economics<br>
3. Classical <st1:place w:st="on"><st1:PlaceName w:st="on">Business</st1:PlaceName>
<st1:PlaceType w:st="on">School</st1:PlaceType></st1:place><br>
4. <st1:PlaceName w:st="on">Graduate</st1:PlaceName> <st1:PlaceType w:st="on">School</st1:PlaceType>
of International Business, Academy of National Economy under of the Government
of the <st1:country-region w:st="on">Russian Federation</st1:country-region>:
Faculty of Innovation Technology Business - MBA Program, <st1:PlaceName w:st="on">California</st1:PlaceName>
<st1:PlaceType w:st="on">State</st1:PlaceType> <st1:PlaceType w:st="on">University</st1:PlaceType>,
<st1:place w:st="on"><st1:City w:st="on">Hayward</st1:City></st1:place>, MBA
Program<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>5. MIRBIS<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>6. SYNERGIA <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>7. <st1:place w:st="on"><st1:PlaceName w:st="on">London</st1:PlaceName>
<st1:PlaceType w:st="on">School</st1:PlaceType></st1:place> of Economics<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>8. <st1:place w:st="on"><st1:PlaceType w:st="on">Institute</st1:PlaceType>
of <st1:PlaceName w:st="on">Economics</st1:PlaceName></st1:place> and Finance
– SINERGHIA <o:p></o:p></span></font></p>
<p class=MsoNormal><b><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon;font-weight:bold'>and
companies like:</span></font></b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial'> IBM, We R. Signs International,
Prime-TASS, Business News Agency; Venshtorgbank (VTB), Joint-Stock Financial
Corporation "Systema", Investment Management Company 'RZK', Open
Joint-Stock Company "TPS", Wermuth Asset Management GmbH (Adviser to
The Greater Europe Fund Ltd.), PHIL WORLD LTD., VimpelCom, Moscow, FMC
Technologies Inc, Polaroid Trading B. V., Norma-Holding GK, JSC
INTERMEDSERVICE, RSM Top-Audit and many other…<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-top:6.25pt;line-height:13.7pt;background:white'><b><i><u><font
size=2 color=maroon face=Arial><span lang=EN-US style='font-size:10.0pt;
font-family:Arial;color:maroon;letter-spacing:-.05pt;font-weight:bold;
font-style:italic'>Russia`s Business Leaders </span></font></u></i></b><b><i><u><font
size=2 color=navy face=Arial><span lang=EN-US style='font-size:10.0pt;
font-family:Arial;color:navy;letter-spacing:-.05pt;font-weight:bold;font-style:
italic'>of Tomorrow</span></font></u></i></b><font size=2 face=Arial><span
lang=EN-US style='font-size:10.0pt;font-family:Arial;letter-spacing:-.05pt'> is
a Leadership Programme for Post-Graduate Students in Business Administration
launched as a project of Our Talents Foundation that aims </span></font><font
size=2 face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:Arial'>to
promote the development of Russia's business culture and to contribute to the
emergence of a class of civically active entrepreneurs and professional
managers s<span style='letter-spacing:-.05pt'>upporting initiatives for the
public </span><span style='letter-spacing:-.1pt'>benefit and democracy.<o:p></o:p></span></span></font></p>
<p class=MsoNormal><b><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><u><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon;font-weight:bold'>OUR
Sponsors are:</span></font></u></b><u><font size=2 color=red face=Arial><span
lang=EN-US style='font-size:10.0pt;font-family:Arial;color:red'><br>
</span></font></u><b><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial;font-weight:bold'>Vostok Nafta Investments</span></font></b><font
size=2 face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:Arial'><br>
<b><font color=navy><span style='color:navy;font-weight:bold'>The <st1:country-region
w:st="on">U.S.</st1:country-region> <st1:place w:st="on"><st1:PlaceName w:st="on">Russia</st1:PlaceName>
<st1:PlaceType w:st="on">Center</st1:PlaceType></st1:place> for
Entrepreneurship</span></font><br>
<font color=maroon><span style='color:maroon'>Dynasty Foundation</span></font><o:p></o:p></b></span></font></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'> </span></font></b><b><font
size=2 face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:Arial;
font-weight:bold'><br>
<u><font color=navy><span style='color:navy'>The Board of Trustees:<o:p></o:p></span></font></u></span></font></b></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Prof. Yevgeny YASIN (Chairman of the Board) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Vladimir AVERCHEV (research director, British
Petroleum (<st1:country-region w:st="on">Russia</st1:country-region>); former
Duma deputy and counsellor of the Russian Embassy in <st1:place w:st="on"><st1:State
w:st="on">Washington</st1:State></st1:place>) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Per BRILIOTH (managing director, Vostok Nafta
Investment) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Mattias BRUGMANN (<st1:place w:st="on"><st1:City
w:st="on">Moscow</st1:City></st1:place> bureau chief, Handelsblatt) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Irene COMMEAU (director of international affaires,
Rosbusiness Consulting) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Andrew JACK (<st1:place w:st="on"><st1:City w:st="on">Moscow</st1:City></st1:place>
bureau chief, Financial Times) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Igor KAN (executive director, Morgan Stanley) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Alexander KIM (president, OUR TALENTS Foundation;
Ex-Economic Adviser to the President of the <st1:place w:st="on"><st1:country-region
w:st="on">Russian Federation</st1:country-region></st1:place>) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Seppo REMES (CEO, Kiuru Partners) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Prof. Vladimir RUDASHEVSKI (adviser to the chairman
of the board of directors of AFK Sistema) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Victor SEDOV (executive director of The U.S. Russia
Center for Entrepreneurship, board member emeritus of The U.S. Russia
Investment Fund) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Rair SIMONYAN (managing director, head of the Russian
operation of Morgan Stanley) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Lord SKIDELSKY (member of the House of Lords of the <st1:country-region
w:st="on">UK</st1:country-region> parliament, member of the board of directors
of Janus Capital, <st1:place w:st="on"><st1:country-region w:st="on">USA</st1:country-region></st1:place>)
<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>John-Paul SMITH (head of global emerging markets of
Pictet Asset Management) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Vladimir TUMARKIN (PR consultant to Morgan Stanley in
<st1:place w:st="on"><st1:country-region w:st="on">Russia</st1:country-region></st1:place>,
former aide to President Gorbachev) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Sir Andrew WOOD (former British Ambassador to the <st1:place
w:st="on"><st1:country-region w:st="on">Russian Federation</st1:country-region></st1:place>)
<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Dmitry ZIMIN (honorary president of Vimpelcom,
founder of Dynasty Foundation)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><b><u><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>The
Executive Council:<o:p></o:p></span></font></u></b></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Vladimir AVERCHEV (research director, British
Petroleum (<st1:country-region w:st="on">Russia</st1:country-region>); former
Duma deputy and counsellor of the Russian Embassy in <st1:place w:st="on"><st1:State
w:st="on">Washington</st1:State></st1:place>) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Vyacheslav BAKAEV (chief of staff of the
International Committee of the Federation Council of the <st1:place w:st="on"><st1:country-region
w:st="on">Russian Federation</st1:country-region></st1:place>) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Pavel EROCHKINE (research officer at the Centre for
Global Studies; research assistant to Lord Skidelsky at the House of Lords of
the <st1:place w:st="on"><st1:country-region w:st="on">UK</st1:country-region></st1:place>
parliament) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>William FLEMMING (аnalyst, <st1:place w:st="on"><st1:City
w:st="on">Moscow</st1:City></st1:place> representative office of Rothschild
investment bank) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Eric HANSEN (deputy director of The U.S. Russia
Center for Entrepreneurship) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Vladimir KHOTKIN (leading specialist, PR department,
Vneshtorgbank) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Alexander KIM (president, OUR TALENTS Foundation) <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span lang=EN-US style='font-size:
10.0pt;font-family:Arial'>Gilles WALTER (senior analyst, Camden Partners)<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-bottom:12.0pt'><font size=2 face=Arial><span
lang=EN-US style='font-size:10.0pt;font-family:Arial'>Principal Adviser to the
Foundation: Neil WITHERS (general director, Assistance Project to MJSCB
"Vozrozhdeniye")<o:p></o:p></span></font></p>
<p class=MsoNormal><b><u><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon;font-weight:bold'>The
Programme provides</span></font></u></b><font size=2 face=Arial><span
lang=EN-US style='font-size:10.0pt;font-family:Arial'> professionals on Russian
MBA programmes with an opportunity to meet people who have achieved prominence
in business, public administration, politics, journalism, the high-tech sector,
NGOs, etc. <br>
<br>
<b><font color=navy><span style='color:navy;font-weight:bold'>Among our
Guest-Speakers in </span></font><st1:place w:st="on"><st1:City w:st="on"><font
color=maroon><span style='color:maroon'>Moscow</span></font></st1:City></st1:place><font
color=navy><span style='color:navy'> were</span></font></b><font color=navy><span
style='color:navy'>:<br>
</span></font>Alexander Shokhin<br>
Yuri Kobaladze<br>
Vadim Kleiner, Hermitage Capital Management <br>
Kirill Dmitriev, Managing Director, Delta Capital Management <br>
Natalia Zagvozdina, Vice-President, Renaissance Capital <br>
Igor Shekhtermann, Rosexpert Executive Search<br>
Arina Gaba, WWF and <u>many others you can read about at our web-site: <a
href="http://www.otf.ru/">www.otf.ru</a> > News section</u><br>
<br>
<b><span style='font-weight:bold'>Our Members also made a guest visit to the
following <u><font color=maroon><span style='color:maroon'>Hosts in Oxford
& </span></font><font color=navy><span style='color:navy'>London</span></font></u>
<font color=navy><span style='color:navy'>this year</span></font> with a
mission to</span></b> <b><span style='font-weight:bold'>show our participants how
democratic institutions, government organizations, media and NGOs work and
interact in one of the oldest Western democracies</span></b>:<u><br>
<font color=maroon><span style='color:maroon'>Media:</span></font></u>
Financial Times / Channel Four (Liam Halligan, economics correspondent for
Channel 4 News – one of the most reliable and trusted business info sources in
the <st1:place w:st="on"><st1:country-region w:st="on">UK</st1:country-region></st1:place>)<br>
<u><font color=navy><span style='color:navy'>International Financial
Organizations:</span></font></u> European Bank for Reconstruction &
Development (Alan Rousso, Lead Counsellor; Larry Sherwin, Deputy Director of
Communications)<br>
<st1:place w:st="on"><st1:country-region w:st="on"><u><font color=maroon><span
style='color:maroon'>UK</span></font></u></st1:country-region></st1:place><u><font
color=maroon><span style='color:maroon'> Government Agencies:</span></font></u>
Foreign & Commonwealth Office (Simon Smith, Head of Eastern Department,
Jack Straw, Minister of Foreign Affairs)<br>
Department of Trade & Industry (Martin Wyn Griffith, Head of Small Business
Service; Inward Investment Group members)<br>
UK Trade & Investment (Amanda Groom, Strategy & Communications team)<br>
<u><font color=navy><span style='color:navy'>Parliament:</span></font></u><font
color=navy><span style='color:navy'> </span></font>House of Commons (Matt
Waldman, Foreign Affairs & Defence Adviser to the Liberal Democrats;
Michael Wills, Liberal Democrats)<br>
<u><font color=maroon><span style='color:maroon'>Business and Business
Associations:</span></font></u> Federation of Small Businesses (person to be confirmed)
/ London Stock Exchange / Citigroup (James Sleeman, Vice President, Energy
& Utilities)<br>
<u><font color=navy><span style='color:navy'>NGOs:</span></font></u><font
color=navy><span style='color:navy'> </span></font>Reuters Foundation <br>
<u><font color=maroon><span style='color:maroon'>Education:</span></font></u> <st1:PlaceName
w:st="on">Oxford</st1:PlaceName> <st1:PlaceType w:st="on">University</st1:PlaceType>
/ Said <st1:place w:st="on"><st1:PlaceName w:st="on">Business</st1:PlaceName> <st1:PlaceType
w:st="on">School</st1:PlaceType></st1:place> (Anthony Hopwood, the Dean)<o:p></o:p></span></font></p>
<p class=MsoNormal style='margin-bottom:12.0pt'><b><font size=2 face=Arial><span
lang=EN-US style='font-size:10.0pt;font-family:Arial;font-weight:bold'><br>
The Project Members are selected from among MBA students studying in <st1:place
w:st="on"><st1:country-region w:st="on">Russia</st1:country-region></st1:place>'s
leading business schools. Candidates are assessed on the basis of their
academic merit, intellectual ability, career potential, interest in public
affairs and commitment to the development of civil society:<font color=navy><span
style='color:navy'><o:p></o:p></span></font></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>FOR ALL
THE ENROLLMENT PROCESS INSTRUCTIONS, PLEASE:<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>1. VISIT
OUR WEB-SITE: <a href="http://www.otf.ru/">WWW.OTF.RU</a></span></font></b><b><font
size=2 face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:Arial;
font-weight:bold'><o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>2. GO
THE SECTION <u>FOR MBA STUDENTS</u> TO <u>FILL IN AN ONLINE FORM</u> <o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'>3. TO
GET LATER CONTACTED FOR A <u>SET OF INTERVIEWS</u> WITH THE <u>MEMBERS OF OUR
SELECTIVE COMMITTEE<o:p></o:p></u></span></font></b></p>
<p class=MsoNormal><b><u><font size=2 color=navy face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:navy;font-weight:bold'><o:p><span
style='text-decoration:none'> </span></o:p></span></font></u></b></p>
<p class=MsoNormal><b><u><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon;font-weight:bold'>LUCK
FAVOURS THE BRAVE!<o:p></o:p></span></font></u></b></p>
<p class=MsoNormal><b><u><font size=2 color=maroon face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial;color:maroon;font-weight:bold'>AND WE
HOPE TO SEE YOU SOON ON OUR MEETING SESSIONS & ENGAGED IN THE JOINT
PROJECTS WITH OUR PARTNER ORGANIZATIONS!</span></font></u></b><b><font size=2
color=maroon face=Arial><span lang=EN-US style='font-size:10.0pt;font-family:
Arial;color:maroon;font-weight:bold'> <u><o:p></o:p></u></span></font></b></p>
<p class=MsoPlainText><font size=2 face=Arial><span lang=EN-US
style='font-size:10.0pt;font-family:Arial'>Sincerely yours,<br>
<br>
Nadya Nesterova<br>
<b><font color=navy><span style='color:navy;font-weight:bold'>AIBEC</span></font><font
color=maroon><span style='color:maroon'> STUDENTS BOARD</span></font></b><font
color=maroon><span style='color:maroon'><br>
<br>
</span></font>Wermuth Asset Management GmbH<br>
1-Kadashevsky per, 13 bld. 1<br>
115035 <st1:City w:st="on"><st1:place w:st="on"><st1:City w:st="on">Moscow</st1:City></st1:place><br>
</st1:City>Tel: +7 (501) 797-4021<br>
Fax: +7 (501) 797-4022<br>
<a href="http://www.wermutham.com"><font color=black><span style='color:black'>http://www.wermutham.com</span></font></a><br>
FFM HRB 51884 <st1:place w:st="on"><st1:City w:st="on">USt-ID-Nr.</st1:City>
<st1:State w:st="on">DE</st1:State></st1:place> 200110358</span></font><font
size=2 face="Courier New"><span lang=EN-US style='font-size:10.0pt;font-family:
"Courier New"'><br>
******************************************************<br>
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