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IMPLEMENTATION OF MORTGAGE SYSTEM FOR HOUSING CONSTRUCTION IN RUSSIAN FEDERATION

October 28, 1998

The Russian Government, in conjunction with leaders of the United States Congress, are planning an ambitious housing initiative. This proposed initiative will address the housing needs of the Russian people which have largely been ignored over the last seventy years. An upcoming conference concerning these issues is scheduled for November 19 through November 22, 1998 in Moscow. This represents a great opportunity for American construction companies and related industries with respect to building activities in Russia.

The Law Offices of John Gallagher, which has been appointed by Russian Duma to act as advisor to that body concerning the housing program, and Pennsylvania-Russia Business Council are extending an invitation to you to participate. If you are interested, please contact either Laura C. Muldowney or John Gallagher at (215) 963-1555 or Val Kogan at (215) 963-7079 in reference to this great opportunity.


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