OREANDA-NEWS. March 30, 2010. CJSC "MGN Group" would like to state that allegations laid upon Eugene Gourevitch bear no relation to the operations of MGN Group and pertain to the period prior to the inception of MGN Group. Since the day it was established, MGN Group has been conducting its business in compliance with the Kyrgyz Republic legislation, submitting relevant reporting to all regulatory authorities of the country. The company has on hand the results of an independent audit for the year 2008, while the auditor's report for the year 2009 is expected in the nearest future.

MGN Group reports that the resignation of Eugene Gourevitch from the position of its CEO has not affected operations of the group or its subsidiaries. All company units are continuing their unchanged daily operations. Management and team members are at their desks performing their respective functions.  MGN Group team would like to wish Eugene Gourevitch to promptly resolve the misunderstanding at hand.

As per the previously adopted management structure of the group and subsidiaries, the management process is conducted as follows: Robert Genkin is the Managing Director of MGN Capital; Zhapar Usenov is MGN VP in charge of legal affairs; Bakyt Satybekov is heading MGN Asset Management, while Yulia Massenkoff runs the broker & dealer department.

CJSC "MGN Group" has a clear understanding of its responsibility to partners, shareholders, subcontractors and clients, as well as its social responsibility. The Company is duly performing its obligations with regard to all agreements and contracts.