OREANDA-NEWS. June 05, 2007. In compliance with the Statute on Competitive Selection among legal entities for transfer of monetary assets of Russian Venture Company (RVC) into their trust management, RVC signed an agreement with each of the three winners following the results of the selection as declared on May 15, 2007, reported the Official website www. economy.gov.ru:

CJSC "TB Asset Management" declared fund amount -RUR 3,061 billion;

Bioprocess Capital Partners Management Company (Limited Liability Company), declared fund amount RUR 3 billion;

CJSC "FinansTrust", declared fund amount -RUR 2 billion.

The agreements set forth each party' obligations concerning the subsequent procedure for registration of the Trust Management Rules, as well as the time limits and procedure for formation of the declared funds. The agreements also indicate the time limits and the scope of information on the venture funds to be provided by the managing companies to RVC. This will allow RVC to monitor the allocation of assets in their trust management, and to check their compliance with the Trust Management Rules.

Moreover, as provided in these agreements, each winner, to secure performance of its obligations, shall transfer RUR 20 million to RVC' account. This money will be restituted with the managing companies after the respective funds start to operate.

According to these agreements, CJSC "TB Asset Management" Bioprocess Capital Partners Management Company (LLC) and CJSC "FinansTrust" must complete the registration of the Trust Management Rules on or prior to September 3, 2007.

It should be noted that before CJSC "FinansTrust" will be able to proceed with the registration of the Trust Management Rules, it is required to obtain, by July 15, 2007, a license for management of investment funds, unit funds and non-state pension funds.