EXTRACT from THE GENERAL AGREEMENT

Last extension date – 14/01/2005
Last correction date – 22/05/2003

Limited Liability Company M Biznes Servis, referred to hereinafter as MBS and represented by its director Eugene A. Sokolinsky acting in accordance with the Bylaws and Akmos Trade Ltd., referred to hereinafter as ATL and represented by its Director Alan J. Peterson, acting in accordance with the Bylaws, jointly referred to hereinafter as Parties, acting with the existing possibilities of the Parties in mind and anticipating future business co-operation based on mutual interest have entered this General Agreement, referred to hereinafter as the Agreement concerning the following:

1. General Clauses

1.1. This General Agreement sets forth the general principles of co-operation and has been entered to provide for the fulfillment of the obligations of the Parties pursuant to the Bylaws.

1.2. The Parties intend to execute a series of co-operative projects related to the development of Internet trading.

3. Obligations of the Parties Related to the Internet Trading System Servicing

3.1. ATL delegates and MBS assumes recording, registration, consideration and resolution of all conflicts, technical and organizational issues related to the use of joint Internet trading system by the clients (users).

3.2. MBS is obligated to introduce no modifications into The Information Service Agreement and Rules and Restrictions of Currency Trading offered to the clients without prior consent of ATL.

3.3. ATL is obligated to notify MBS about proposed modifications to Rules and Restrictions of Currency Trading immediately and put no such modifications into effect without consent of MBS.

ATL is obligated to keep its principal, BNY Clearing Services LLC, unless MBS agrees otherwise.

3.4. ATL is obligated to keep a deposit with BNY Clearing Services LLC amounting to not less than the combined Equity of the clients (users) of joint Internet trading system.

3.5. Pursuant to Paragraph 3.4., ATL is obligated to calculate and realize the Netting of the deposit management position at BNY Clearing Services LLC.

4. Duration and Conditions of the Co-Operation of the Parties

4.1. This Agreement has an unlimited duration and is valid from the moment of signing by both Parties.

4.5. If particular clauses of this Agreement should become invalid or illegal, the other clauses will keep validity and the Parties will enter an additional Agreement eliminating the illegal clauses from this Agreement.

5. Non-disclosure Agreement

5.1. The Parties acknowledge that confidential information related to the business activities of each other may be disclosed or otherwise become available to them. Each of the Parties is obligated to keep said information in confidence, not disclose it to any third party without prior approval by the other Party and not use it for any purpose unrelated to the performance of this Agreement.

6. Discontinuation of the Agreement

6.3. The following clauses shall survive this Agreement and remain valid after the term thereof :

(a) all clauses related to the assumed but unfulfilled obligations;

(b) the obligation to maintain confidentiality in accordance with Paragraph 4 of this Agreement.

7. Force Majeure

Should circumstances precluding any of the Parties from partial or complete performance of the responsibilities set forth in this Agreement arise, such as war, hostilities of any nature, blockade, export and import restrictions, fires, floods, earthquakes, and other natural phenomena beyond control of any of the Parties, the due date of Parties’ obligations will be postponed in accordance with the period of existence of the aforementioned circumstances. If the duration of the aforementioned circumstances should exceed three months, any of the Parties will have the right to abandon its obligations pursuant to this Agreement and, in such a case, the other Party will have no right to enter a claim against the first Party to recover possible losses. The Party, whose performance of this Agreement should become impossible, will have to notify the other Party about the beginning and cessation of the existence of the circumstances precluding the Party from the performance of its obligations immediately. The certificates issued by the Chambers of Commerce of the countries of residence of either ATL or MBS shall constitue due proof of the existence and duration of the aforementioned circumstances.

8.3. Signatures of the Parties