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Unofficial translation see at the bottom

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Unofficial Translation

RUSSIAN UNION
OF THE INDUSTRIALISTS & BUSINESSMEN

103070, Russia, Moscow, Old square, 10/4
Ref. № 197/07 from March 09, 2000.
 
To: Dmitri V. LUBOMUDROV
Vice-president of the Commercial Bank "LEGPROMBANK"

Dear M-r Lubomudrov !

By considering a method, offered by you, of a guard of bank accounts of the enterprises in crisis conditions by creation of "banks with reduced risk" (called by you "NoRisk-Banks"), we inform, that the Russian Union of the Industrialists and Businessmen in essence approves of your offer, being guided by a problem to facilitate to the enterprises - members of the Union, and also all russian enterprises, problem of preservation of stability of bank accounts, problem of separation and monitoring of financial risks, problem of monitoring of a special-purpose character of use of money resources of the enterprises.

Doubtlessly, the financial mechanism, offered by you, requires serious legal and technological study. Therefore your materials will be directed for an expert evaluation to various state bodies, and also will be lead up to an information of the directors of the enterprises for development of the recommendations on participation of the enterprises in creation and activity of "NoRisk-Banks" in conditions of a modern economic situation in Russia. It is necessary especially to underline, that the creation of effective mechanisms of a guard of the rights and interests of the investors, both domestic, and foreign, will promote improving of an investment climate and for want of fulfilment of a number of other conditions will reduce in growth of industrial development and to general improving of an economic situation in Russia.

We offer you after deriving a number of experts' reports on your materials to return to detail discussion of possibilities of practical use of financial technology, offered by you.

Yours faithfully,

The vice-president                                  Victor M. DOMBROVSKI

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e-mail : ldv777@hotmail.com или ldv777@mail.ru

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