Changes made to management of Baku Stock Exchange

On August 18, 2006, Supervisory Board of Baku Stock Exchange (BSE) held a meeting. According to the protocol #2 of Supervisory Board, the Chairman of Board of the BSE Mr. Anar Akhundov in connection with his transfer to another job was dismissed from the office and Mr. Khayal Abdinov was charged on a temporary basis to fulfill the duties of the Chairman of Board of the BSE until the next General Meeting of the Shareholders. We should note that the Extraordinary General Meeting of the BSEs Shareholders will take place on October 6, 2006. Reference: Khayal Sabuhi Abdinov was born on August 27 of 1974 in Baku city. In 1996, he graduated from the Faculty of Law of Baku State University. Prior to his new appointment, Mr. Abdinov held the position of the Chairman of Board of Standard Capital LLC.