<html>

<head>
<title>American Russian Law Institute</title>
<meta name="GENERATOR" content="Microsoft FrontPage 5.0">
<meta name="ProgId" content="FrontPage.Editor.Document">
</head>

<body link="#FF0000" vlink="#FF0000">

<div align="left">
  <table border="0" width="141" height="987" cellspacing="0" cellpadding="0">
    <tr>
      <td bgcolor="#FFFFFF" height="1">&nbsp;</td>
      <td bgcolor="#FFFFFF" height="90" rowspan="2" valign="top">
        &nbsp;<table border="0" cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" align="center" bgcolor="#FFFFFF">
              <p align="center"><strong><font color="#FF0000" face="Times New Roman" size="2"><a href="http://russianlaw.org/022.htm">ARLI
              ON CAPITOL HILL</a></font></strong><a href="http://russianlaw.org/022.htm"><br>
              <img border="0" src="http://www.russianlaw.org/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></p>
            </td>
          </tr>
        </table>
      </td>
    </tr>
    <tr>
      <td bgcolor="#FFFFFF" height="150">
        <p align="center"><font color="#FFFFFF">.</font><a href="http://www.russianlaw.org/ruslex.htm"><br>
        <marquee style="font-family: Arial Black; color: #000080; font-size: 10; padding-top: 0; padding-bottom: 0" bgcolor="#FFFFFF" width="460" height="13" align="middle">CLICK
        HERE FOR TOTAL SOLUTION TO YOUR RUSSIAN LAW PROBLEMS</marquee>
        </a></p>
        <table border="0" cellspacing="0" cellpadding="0" width="100%" height="146">
          <tr>
            <td bgcolor="#FFFFFF" height="79">
              <p align="center"><img height="45" src="http://russianlaw.org/New_Folder2/flag-us.gif" width="73" border="0"></td>
            <td bgcolor="#FFFFFF" height="79">
              <p align="center"><img height="79" src="http://russianlaw.org/New_Folder2/arli_3.jpg" width="132" border="0"></td>
            <td bgcolor="#FFFFFF" height="79">
              <p align="center"><img height="53" src="http://russianlaw.org/New_Folder2/flag.gif" width="94" border="0"></td>
          </tr>
          <tr>
            <td bgcolor="#FFFFFF" colspan="3" height="67">
              <p align="center"><b><font size="6" color="#0000FF">American
              Russian Law Institute<br>
              </font><font size="2" color="#0000FF">A not-for-profit tax exempt
              public policy research and advisory organization<br>
              .</font></b></td>
          </tr>
        </table>
      </td>
    </tr>
    <tr>
      <td bgcolor="#FFFFFF" valign="top" height="897">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">
          <tr>
                    <td width="100%">
                      &nbsp;
                      <div align="center">
                        <table border="0" width="100%"
                        cellspacing="0" cellpadding="0">
                          <tr>
                          <td width="100%" valign="top">
                            <p align="center">
                            _________________________________________________________________________________</p>
                          </td>
                          </tr>
                        <tr>
                          <td width="100%" valign="top">&nbsp;
                            <p><b><font color="#FF0000">CONTACT US</font></b></p>
                            <p><font color="#000080"><b>American Russian Law
                            Institute<br>
                            366 Amsterdam Avenue # 176<br>
                            New York, NY 10024<br>
                            phone/fax (212) 656-1810<br>
                            e-mail: <a href="mailto:info@russianlaw.org">
                            info@russianlaw.org</a> </b></font></p>
        <p align="center">&nbsp;</p>
        <p align="center">&nbsp;</p>
        <p align="center"><strong><small><small> <a href="http://www.russianlaw.org">
        HOME<br>
        <img border="0" src="http://www.russianlaw.org/arlilogo.gif" width="120" height="58"></a>
        <br>
        </small></small></strong><font color="#0000FF"><strong><small>Copyright
        © by American Russian Law Institute<br>
        All rights reserved</small></strong></font></p>
                            </td>
                        </tr>
                        </table>
                      </div>
            </td>
          </tr>
        </table>
        </td>
      <td valign="top" height="897">
        <table border="1" cellpadding="0" cellspacing="0" width="100%" bordercolor="#FF0000">
          <tr>
              <td bordercolor="#ffff00" width="100%" bgcolor="#0000ff">
                <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>
          </tr>
          <tr>
              <td bordercolor="#FFFF00" width="100%" bgcolor="#000000">
                <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>
          </tr>
          <tr>
              <td bordercolor="#ffff00" width="100%" bgcolor="#0000ff">
                <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>
          </tr>
        </table>
        <div align="center">
          <table border="0" width="100%" cellspacing="0" cellpadding="0" bordercolor="#FF0000">
            <tr>
              <td bordercolor="#FFFF00" width="100%" bgcolor="#FFFFFF">
                <p align="JUSTIFY"><font face="Arial Narrow" color="#000080" size="2"><a href="http://www.russianlaw.org/masloff_reception.htm">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</a></font></td>
            </tr>
          <center>
            </center>
          </table>
        </div>
      </td>
    </tr>
  </table>
</div>

</body>

</html>
