1. ETIRC 4 Th Russia Netherlands Economic Forum European Technology and Investment Research Center (ETIRC) Investment Banking Growth Capital October 2005

2. ETIRC Objectives ETIRC Investment Banking and Capital Management for Eastern Europe (e.g. Russia, Ukraine, Turkey) Investment and Research Center that is a trusted and reliable Gateway in and out of Russia Provide access to High Potential projects and businesses in Russia – product and technology Provide access to Investment opportunities in Russia via privatizations, restructurings, buy-out, etc.

3. ETIRC ETIRC Capital Management ETIRC Strengths –Capitalization and Financing Products/services: Redefine/Privatize/Nationalize equity structures Place, Sell, Leverage equity on various financial markets Commercial development for various technologies and products from Russia and into Russia –Financial Projects ongoing: Private Equity Fund Structures for Russian projects –Communication, Transport, Retail projects –Energy and Mobility projects –Outsourcing Projects Establish International Pension Fund Structures Establish Privatization and Capitalization strategies

4. ETIRC ETIRC in the Netherlands ETIRC NL –ETIRC Aviation Eclipse Aviation Europe –ETIRC Broadband Technologies (DSL/WiMax) Leveraging Dutch Broadband knowledge –ETIRC Engine and Energy Technologies Neander Technologies (Germany) X- Engine (Holland) and Y-Engine (NL, UK) –ETIRC Navigation Technologies Car, PC, PDA navigation and location based services

5. ETIRC ETIRC Russia ETIRC Operations in Russia: –ETIRC Aviation Russia Eclipse Aviation Russia – ECLIPSE 500 ClipClip Cooperation VEB, AviaStar/Ulyanovsk/Aeroflot –ETIRC Med & Life Sciences New Anti-Aging & Medical Technologies, Cosmetics, Phood –ETIRC Russian Fish Technologies Caviar/Sturgeon commercial and research –ETIRC OIL OIL and Gas Condensate commercial, exploration technologies –ETIRC Navigation Systems Cooperation for the GLONASS systems

6. ETIRC ETIRC Russia (Cont.) –ETIRC Finance Russian Pension Fund Cooperation with ETIRC, ING/ PGGM and the RPF for knowledge, products –ETIRC Communications DSL and WiMax projects –ETIRC Real Estate Office & Residential properties in Bashkiria –ETIRC Water Management Cooperation water infrastructure programs

7. ETIRC Netherlands as Trusted Gateway Netherlands invests among the first in Russia Netherlands solid partner of European Union and has a strong intermediary position in EU Netherlands has trade and financial agreements with the USA and Asian countries Netherlands part of Netherlands Antilles Strong commitment of Dutch financial institutions to Russia and developing momentum