Saint Petersburg, Russia - The Mid-Atlantic - Russia Business Council supporting the Russian Venture Capital Association announces the Fifth Russian Venture Fair on October 7-8, 2004 in Saint Petersburg, Russia. The Russian Venture Fair is the most important and meaningful annual event for the Russian venture capital industry. The Fair brings together companies from around the country and venture capitalists from Russia and throughout the world. The Fair includes a conference, showcase, competition, as well as many other highlights.

The venture conference being part of the fair will offer a vigorous networking environment of entrepreneurs, investors, scientists, engineers, business development executives and professional service providers. The topics of the conference and presentations will include a historical overview of the industry development over the past decade, latest changes in the tax and legal environment, latest trends in raising venture capital funds in Russia and sources of domestic capital.

The showcase of some 100 hundred young companies will be lined up in industry specific tracks: Biotech, IT, Space & air, and Energy Efficiency. A special section will be devoted to Seed and Start-up companies. These companies are chosen by the RVF Selection Committee, which is composed of representatives from leading Russian venture capital firms, government agencies, and international financial organizations.

The Mid-Atlantic - Russia Business Council is bringing an American delegation and organizing the Russian-American section of the Fair to provide business opportunities between Russian and American companies. The American delegation, including the head of the Philadelphia incubator, will participate and make a number of presentations. In addition to partaking in the main program, American delegates will also be included in the jury selecting the most promising projects that will be given awards in several categories.

Information on the Russian Venture Capital Fair activities and the registration form are available at the Fair website: www.rvca.ru. For more information about the American delegation, contact Val Kogan, Mid-Atlantic - Russia Business Council, by phone: 215.708.2628, email: val@ma-rbc.org, or visit the MARBC website http://www.ma-rbc.org