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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (51085)	2/1/2000 9:01:00 PM
From: Anthony@Pacific	Respond to of 122087

ANDR<--------Here is the money laundering suit apparantly money was siphoned off to US investors of which the compnahy officers benefited directly.. August 18, 1999, Avisma Titano - Magnesium Kombinat ("Avisma"), an industrialcompany located in Berezniki, Sverdlovsk, Russian Federation, and organizedunder the laws of the Russian Federation, filed suit in the United StatesDistrict Court in New Jersey against numerous shareholder parties, including,among others, the Company and the Company's Chairman, Francis E. Baker.Recently, on December 10, 1999, Avisma filed an amended Complaint in which,among other things, the Company was dropped from the lawsuit and is thus nolonger a party defendant. Mr. Baker, who also serves as a Director of thecompany, remains a named defendant.The suit purportedly seeks to recover in excess of $150 million in damagesallegedly arising out of harm allegedly caused by fraud and "money laundering",that is, in which it was claimed that funds were purportedly misappropriatedaway from Avisma for the benefit of the Western-based investor group of whichthe Company and certain Directors are a part. The Company and Mr. Baker havedenied any and all wrong doing alleged by the plaintiff and believe that thislawsuit was and continues to be motivated for purposes of using inflammatoryallegations in the U.S. to gain some kind of "leverage" in on-going businessrelations in which the investors are seeking to bring Western-style accountingand management controls to and for the benefit of the Russian company and itsshareholders.As previously disclosed in various of its filings with the Securities andExchange Commission, both the Company and Mr. Baker, along with other members ofthe Company's Board of Directors, made an investment in Avisma, and, by virtueof the merger of Avisma into another Russian Federation corporation (namely,"VSMPO") in 1998, currently still holds a small, minority investment interestthrough the holdings of VSMPO stock.Mr. Baker, who is indemnified by the Company for conduct within the scope of hisposition as Chairman and Director, intends to continue to vigorously defend thissuit, as to which it is believed there are numerous meritorious defenses. As ofthis date, the Company has not provided for any reserve for any liabilityassociated with this case, nor does it believe any reserve would be appropriatesince based on the Company's present understanding of the facts associated withAvisma's operations and of relevant U.S. laws, liability of either Mr. Baker, orderivatively, the Company, would be entirely speculative.

To: Anthony@Pacific who wrote (51085)	2/1/2000 9:32:00 PM
From: Anthony@Pacific	Read Replies (2) \| Respond to of 122087

ANDR<-----------City of MOSCOW is BROKE!!!!!!!1 A. Andersen Group?s joint venture partner COMCOR, set about creating a transportation network in 1992 and an economic basis for its program was developed. The City of Moscow approved this project to develop a communications service market. It also aimed to create a city data network Moscow management organs. In 1998 the City planned to invest $250M in COMCOR to provide the access networks. After the default, the City had insufficient funding to continue as planned. COMCOR appealed to Western sources for funds. It had discussions with a number of large cable and investment companies, in particular it approached Andersen Group to arrange the investment.