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<DIV><FONT face=Arial size=2>DEAR AIBECERS:</FONT></DIV>
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<DIV><FONT face=Arial size=2>ALL AIBEC STUDENTS ALUMNI AND FRIENDS ARE INVITED
TO ATTEND THE 8TH ANNUAL AM CHAM MBA CASE COMPETITION ON SAT. APRIL 22ND AT THE
RADISSON HOTEL.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>AIBEC HAS TWO VERY FINE TEAMS WHO WILL COMPETE
AGAINST OTHER MBA PROGRAMS IN MOSCOW.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>YOURS TRULY,</FONT></DIV>
<DIV><FONT face=Arial size=2>ART FRANCZEK</FONT></DIV></BODY></HTML>