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<DIV><FONT face=Arial><FONT size=3><EM><STRONG>Dear AIBEcers</STRONG></EM>,
</FONT></FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3>The AIBEc administration hereby informs you
that</FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial><FONT size=3><STRONG>SINCE AUGUST 15, 2007</STRONG> the
<STRONG>NEW COST OF STUDY POLICY</STRONG> will be effective.</FONT></FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3>The <STRONG>DISCOUNTED COST</STRONG> will be
<STRONG>RUR 18,000</STRONG> per 1 course.</FONT></DIV>
<DIV><FONT face=Arial size=3>The <STRONG>FULL COST</STRONG> will be <STRONG>RUR
30,000</STRONG> per 1 course.</FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3>Advance payments can be made at previous rates
<STRONG>TILL AUGUST 15, 2007 ONLY</STRONG>.</FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3>For additional information, please, contact Liliya
Neyman (438-14-39).</FONT></DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3></FONT> </DIV>
<DIV><FONT face=Arial size=3><STRONG>Konstantin Kontor, </STRONG></FONT></DIV>
<DIV><FONT face=Arial
size=3><STRONG>Director</STRONG></FONT></DIV></FONT></DIV></BODY></HTML>