SOURCE: IPO Russia

August 04, 2005 12:23 ET

IPORUSSIA, INC. Announces Agreement With JSC "Extreme Sports Center PARK EXTREME" -- an Operator of the Extreme Sports Center of Moscow, Russia

JERICHO, NY -- (MARKET WIRE) -- August 4, 2005 -- 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 JSC "Extreme Sports Center PARK EXTREME" of Moscow, Russia, an operator of an extreme sports center for year-round sporting activities for amateurs and professionals.

Extreme Sports Center PARK EXTREME ("Sports Center") owns and operates a unique sports facility in the Moscow area for hosting world class motorcycle cross road races, and numerous sports events. The Sports Center also provides participants with motor bikes, snowmobiles, quadro-cycles, and bicycles all year round. The Sports Center's circuit is certified by the International Federation of Motor Sport (FIM) for Grand Prix world championships.

Under the terms of the agreement, IPORUSSIA will receive a 5 percent fee on financing received for which IPORUSSIA provides advice.

Mr. Alexander V. Latyshev, General Director of JSC "Extreme Sports Center PARK EXTREME," stated, "We are looking forward to implementing our expansion plans with the assistance of IPORUSSIA." Mr. Latyshev further stated, "We plan to dramatically expand the scope of our Sports Center and attract top world racing sportsmen, as well as improving the quality of domestic championships being held at our Sports Center. At the same time, we are on the way to becoming the Russian Leader of entertainment of amateurs in extreme sports."

"We are impressed with the business development of the Sports Center," stated Vladimir F. Kuznetsov, President & CEO of IPORUSSIA, INC. Mr. Kuznetsov further stated, "The Sports Center hosted a number of motorcycle cross road events of international and domestic competition. We welcome the opportunity to assist the Sports Center in its financing plans so that it may become one of the leading motorcycle cross road racing facilities."

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.

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.

Contact Information

  • CONTACT

    Leonard W. Suroff
    Executive Vice President
    IPORUSSIA, INC.
    Tel. (516) 937-6600
    Fax. (516) 681-3900
    e-mail: Email Contact

    12 Tompkins Avenue
    Jericho, New York 11753, U.S.A.