SOURCE: IPORUSSIA, Inc.

February 16, 2006 07:00 ET

IPORUSSIA, INC. Announces Agreement With Commercial Bank KEDR, a Russian Bank

JERICHO, NY -- (MARKET WIRE) -- February 16, 2006 -- IPORUSSIA, INC. (OTC BB: IPOR), a provider of business advisory services to private companies located in the Russian Federation, announced today it has been retained by Commercial Bank KEDR, of Krasnoyarsk, Russia.

Commercial Bank KEDR is a mid-sized bank ranked within the top 150 Russian banks. KEDR bank currently has 13 branch offices in 7 Russian cities including 2 locations in Moscow, Russia.

Mr. Igor Y. Sternin, Chairman of the Board of Commercial Bank KEDR, stated, "We are looking forward to implementing our business plans with the assistance of IPORUSSIA to expand the scope of our services in Russia and abroad."

"The Russian banking sector continues to have dynamic growth and we are pleased to work with the Commercial Bank KEDR, one of the leading banks headquartered in Siberia, Russia. We are impressed with its business development and expansion plans both in Russia and foreign markets," stated Vladimir F. Kuznetsov, President & CEO of IPORUSSIA, INC.

About IPORUSSIA, INC.

IPORUSSIA, INC. offers business advisory services to private companies located in the Russian Federation that are interested in raising capital, usually by taking their companies public in the United States, as a means of obtaining capital for their companies and liquidity for their principals and other stockholders. IPORUSSIA's wholly owned subsidiary, IPOR Capital, LLC, is admitted as a member of the NASD and may, as a finder and/or consultant, solicit other broker dealers to manage or co-manage IPOs for Russian and other foreign companies. In addition, IPOR Capital may participate in private placements of securities to institutional and accredited investors.

This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. These factors include, among other things, United States and global economic conditions, the acceptance in foreign markets of securities of companies primarily based in Russia, the Company's ability to attract clients who complete transactions, potential competition from investment banking firms, the Company's ability to attract, compensate and retain personnel with investment banking experience, the effects of compliance with governmental and NASD rules, the effects of the Sarbanes-Oxley Act of 2002 on the Company and prospective clients, the Company's ability to generate additional financing that may be required, the Company's dependence on its chief executive officer and the Company's limited operating history.

12 Tompkins Avenue
Jericho, New York 11753, U.S.A.
Tel. (516) 937-6600
Fax. (516) 681-3900
e-mail: suroff@iporussia.com

Contact Information

  • CONTACT
    Leonard W. Suroff
    Executive Vice President
    IPORUSSIA, INC.
    516 - 937-6600