International Management Ltd

Contract dated 2 March,199. .

This Contact is made between:

International Management Ltd, London, United Kingdom, herein­after referred to as Organiser and Economtraining, Moscow, Russian Federation, hereinafter referred to as Customer.

This Contract concerns the Programme for a Group of 10 senior bankers and foreign trade company executives (the Participants) from the Russian Federation as nominated by the Customer, scheduled to take place in London during 8 days in November, 199. .. The exact dates are to be specified before 20 October.

Both parties to this Contract are bound by the terms and condi­tions of the Contract as set out below.