Magisters, a leading CIS-based law firm, today announces that Neil Tindall has joined its Moscow office to lead jointly with Oleg Riabokon on advising existing and new clients on PPP and infrastructure. Neil, a Partner with Pinsent Masons LLP, is a UK qualified major projects/infrastructure and public procurement lawyer with more than a decade specializing in infrastructure and PPP projects.

Oleg Riabokon, Magisters' Managing Partner, reflected: "Market demand for cutting edge expertise in project finance PPP and infrastructure is growing in Russia and across the CIS.  Our initiative recognizes that our clients require close cooperation with their own commercial and financial project teams to navigate this exciting and complex time in the development of the Russian and CIS markets".

Neil Tindall, Of Counsel to Magisters, concurred: "We believe we are jointly providing a very important product to a market that will develop at an extremely fast pace. Our experience internationally, most recently endorsed by Pinsent Masons LLP winning The Lawyer 2008 Infrastructure Team of the Year award, suggests that a strong strategic legal component to project teams working in such a dynamic legal environment will be critical to their short, medium and long term success".

* The Magisters and Pinsent Masons strategic co-operation in the fields of PPPs, construction and infrastructure projects in the CIS does not in any way create a legal partnership between the two firms and both firms retain their full independence of each other.

This project was led by Magisters' Partner Valery Fedichin assisted by associates Oleg Boichuk and Andriy Oleniuk. 

EastOne Group is an international investment advisory group that provides strategic and investment management services to a diversified portfolio of assets across multiple geographies and industry sectors. EastOne manages a portfolio of more than 20 companies and large-scale projects, among them Interpipe and Ukrainian media investments (STB, Novy, ICTV, Fakty Newspaper, etc.).

Ekonomika Publishing House publishes DELO daily, Investgazeta weekly magazine, TOP-100. Ukraine’s Best Companies Rating magazine, and a range of specialized publications: Marketing Media Review, Logistics, Praktika Otsenki and Kommunalnoye Khoziaystvo.

On June 30, Central European Media Enterprises (CME) announced that it has completed the acquisition of 30% participatory interest owned by Alexander Rodnyansky and Boris Fuchsmann and increased its share to 90% under the agreement dated February 5, 2008. The National Council for Television and Radio Broadcasting has updated the license of Studio 1+1 due to the new ownership structure.

The 30% of shares was valued at USD 219.6 million, USD 79.6 million of which was paid to Alexander Rodnyansky and Boris Fuchsmann, and USD 140 million - to Ihor Kolomoyskyy.

The remaining 10% of shares, owned by Alexander Rodnyansky and Boris Fuchsmann, could be offered to ÑÌÅ for USD 95.4 million, should it be sold within the coming year, USD 102.3 million - within the following year, and USD 109.1 million - at a later date.

Messrs. Rodnyansky and Fuchsmann can receive money in cash or invest them into Class A shares. Boris Fuchsmann remains a member of Channel 1+1 Supervisory Board.

Magisters advised Alexander Rodnyansky and Boris Fuchsmann on the acquisition. The project was led by Partners Oleh Marchenko, Alexey Reznikov and Serhii Sviriba, assisted by Associates Markiyan Kliuchkovskyi, Oleksandr Maydanyk and Arseniy Milyutin.

Serhii Sviriba commented: "Having supported this project, Magisters associates gained an excellent opportunity to broaden their experience in the management of major international transactions. Our advisory role required consideration of minimum seven jurisdictions of such countries as: the Bermuda Islands, Cyprus, Germany, the Netherlands, Russia, Switzerland and Ukraine, not to mention that individual activities pertaining to this acquisition were carried out in other countries."

"We are proud that the role played by our firm in this deal was a leading one, not limited to just local representation as it is generally the case in such projects. Moreover, our role as a legal counsel required us to conduct many functions, including the analysis of the most complex agreements, as well as the structuring of the transaction as a whole," said Alexey Reznikov.

On June 27 Intesa Sanpaolo announced that it completed the acquisition of 100% of the share capital of Pravex-Bank at a countervalue of EUR 493 million after having obtained authorizations of the relevant regulatory authorities both in Italy and Ukraine. The consideration includes the repayment to the sellers of the capital increase carried out since February 4, 2008 when the agreement was signed.

The deal is one of the largest M&A transactions in Ukrainian banking sector in 2008.

With the acquisition of Pravex-Bank, Intesa Sanpaolo strengthens its presence in Central and South-Eastern Europe and the Mediterranean Basin where it operates 1,900 branches and services more than eight million customers in 13 countries.

The Pravex-Bank acquisition will also allow for an effective entrance of Intesa Sanpaolo into Ukrainian market, where Pravex Bank operates a network of 580 branches, which represents the seventh largest network in the country, and approximately 1,900 consumer finance points, being one of three major Ukrainian providers of consumer loans to 1.2 million clients.

Magisters acted as a Ukrainian law adviser to Intesa Sanpaolo. Magisters' team was led by Andrew Mac, Partner and Head of the Firm's Corporate and M&A Practice, assisted by Associate Oksana Ilchenko.

Magisters' Corporate and M&A Practice is widely recognized by international legal directories, with IFLR 1000 placing it in the first tier among other corporate practices in Ukraine and PLC Which Lawyers? acknowledging it as the leading practice in the country.

According to the National Bank of Ukraine, as of May 1, 2008, Ukreximbank is ranked fifth among Ukrainian banks in terms of assets. Depfa Bank is a German bank that specializes in providing loans to state institutions.

Magisters advised Depfa Bank on Ukrainian law issues, with Clifford Chance advising on the English law. Magisters' team was lead by Partner Valery Fedichin.

Global Arbitration Review is the most influential international journal focusing on arbitration, The journal has ranked the top 21 arbitration specialists in Russia, as part of its supplement. The ranking is based on a comprehensive research where the leading practitioners were identified according to peer-review interviews with counsel and arbitrators in Russia and the rest of Europe.

Dmitry Dyakin, head of Magisters' dispute resolution practice group in Moscow, was ranked in the "Notable" band. Global Arbitration Review quotes the following expert opinion: "Magisters is a good firm and Dmitry is a young counsel with growing experience in international arbitration". Another quoted practitioner said: "Dmitry is bright and smart, and I expect the team in Moscow to flourish under his leadership".

Dmitry splits his time between litigation and international arbitration, spending 40 percent of his time on the latter. The journal cites recent cases as examples of Dmitry's distinguishing experience. Specifically, his work representing Avtotor Group in a dispute against a U.S. company in Stockholm under ICC International Court of Arbitration rules and advising a major Russian telecommunications company in an arbitration, now at the enforcement stage, about the ownership of shares in a Ukrainian mobile telecommunications company.

This recognition follows Dmitry Dyakin's recent acknowledgement by European Legal Experts 2008 as a prominent dispute resolution practitioner. Dmitry heads up the Moscow-based litigation and arbitration practice of Magisters, working alongside 9 lawyers who represent a range of clients in major litigation and arbitration disputes.

The full supplement focusing on Russia and providing details of the rankings can be found in Global Arbitration Review's May issue (No. 2 of 2008).

"Magisters is honored to join the world's leading association that combats the global problem of fraud and asset recovery. Magisters has experience representing interests of the fraud victims using multiple litigation tools and techniques, and our membership in FraudNet greatly adds up to the depth of our expertise," said Marta Khomyak, a Counsel of Magisters' International Arbitration and Litigation Practice.

According to FraudNet, its members offer their services in more than 30 countries throughout the world and this number is expected to increase to more than 50. FraudNet members are selected carefully using a strict set of criteria governed by the FraudNet Standards & Procedures Committee. This ensures that only the best specialists with a cleat track record in this area are invited to join the network.

Associates of the International Arbitration and Litigation Practice have successfully handled complex disputes that involved fraud and commercial crimes; provided a full range of services, including data gathering, risk assessment, counseling on interaction with law-enforcement authorities. Magisters has also conducted internal investigations in various areas of potential prosecution and advice on best remedial actions.

Within the last year, Magisters was honored with admission to the world's most respected associations: Globalaw, Lex Mundi, Taxand and FraudNet that testifies to the Firm's maturity and greatly facilitates better provision of service to its international clients.

According to the official NBU statistics, Alfa-Bank is ranked 9^th among the top banks of Ukraine in terms of total assets as of 1 April 2008.

Magisters advised Alfa-Bank, as the borrower, on establishment of the Programme and all previous issues thereunder in July 2007 and April 2008, as well as on other cross-border financing, including syndicated and bilateral loans. Magisters has been acting as a legal adviser to Alfa-Bank since 2006.

UBS Limited and Deutsche Bank AG, London Branch, acted as joint lead managers, together with OJSC "ALFA-BANK" (Russia) acting as manager, in the above additional issue.

Magisters advised Alfa-Bank on Ukrainian law issues, with Latham & Watkins advising on the English law. Magisters' team in this transaction was led by Olga Khoroshylova, Partner and Head of Banking & Finance practice, assisted by associates Kseniya Zanuda and Kateryna Oliynyk. Tax aspects of the issue were covered by Oleh Marchenko, Partner and Head of Tax Practice of the firm.

Magisters' Banking & Finance practice is widely recognized by international legal directories. Thus, it was ranked in Band 1 of the latest edition of Chambers Europe, while Olga Khoroshylova was ranked in the individual Band 2 being named "a smart, knowledgeable lawyer with excellent analytical skills, who shows great promise."

This follows the Svea Appeal Court announcement in December 2007, to nullify an arbitral award on the basis of which Ukraine was required to pay US$20 million to Norsk Hydro (Sweden). On April 28, 2008 Norsk Hydro filed for an appeal of this decision.

Counsels for Ukraine were law firms White & Case LLP and Magisters.

Magisters' Partner and Head of international arbitration and litigation practice Serhii Sviriba said: "The litigation case Ukraine vs Norsk Hydro is a great testimonial for both Ukrainian and international public law. The subject of the dispute raises concerns over certain regulations of the Ukrainian legislation system which are not initially apparent, and requires government officials to be more diligent with their book-keeping."

"I would like to emphasize the importance of witnesses and experts, whose judgements and testimonies were taken into consideration by the Court."

Court proceedings in Stockholm started in 2003. Prominent political figures and academics, namely Yuri Ekhanurov, Minister of Defence of Ukraine, and Roman Maydanyk, a Professor at National Taras Shevchenko University of Kyiv, participated and witnessed on Ukraine's behalf.

Counsels to Ukraine were the Stockholm office of White & Case LLP led by Partners Bengt-Ake Johnsson, John Willems and Anders Relden and Ukrainian law advice was provided by Partner Serhii Sviriba and Counsel Marta Khomyak of Magisters.

Since 1990 International Tax Review has earned a reputation of the world's most authoritative tax magazine. The magazine initiated the European Tax Awards to recognize firms' achievements in tax transactions, structuring, litigation and transfer pricing. There are Pan-European awards, such as European Tax Firm of the Year, and awards presented to firms in 24 jurisdictions across Europe, including Ukraine.

This year, the Tax Firm of the Year award for Ukraine went to Ernst & Young. Magisters has been shortlisted among Deloitte, Ernst & Young and PricewaterhouseCoopers.

"Magisters is honored to be shortlisted for the world's most prestigious tax award that acknowledges the leading international tax practices for the best-in-class tax advice. The nomination itself is a major recognition of our achievements and it highly praises the competence of Magisters' tax team," said Oleh Marchenko, Magisters' Tax Partner.

According to International Tax Review, nominees are decided based on the detailed research by the International Tax Review's editorial staff. The research includes firms' submission forms, interviews with leading tax advisers, private-practice lawyers, tax executives and in-house counsels to gain their perspective on the ground-breaking tax work in Europe.

Magisters' tax practice is widely recognized as one of the biggest among CIS-based law firms with two partners and nine associates advising on a whole range of domestic and international tax issues in M&A, private equity, real estate, banking & finance, transfer pricing and dispute resolutions.

Magisters' Tax Practice has been growing dramatically over the last year with Vladimir Didenko, a renowned tax expert with 15 years of experience in tax, joining as a Partner in March. In April this year the Firm was admitted to Taxand, the first independent global tax network represented in 44 countries.

It is worth noting that at International Tax Review's European Tax Awards event held in London on May 22, 2008, Taxand took the award for "Best Newcomer", and four Taxand firms, out of fifteen firms nominated for the awards, received "Tax Firm of the Year" awards (Bech-Bruun from Denmark, Zepos & Yannapoulos from Greece, Atoz from Luxemburg, and Garrigues from Spain).

International Tax Review also publishes World Tax, a guide to the leading tax accounting and law firms around the world that ranks the firms based on an in-depth research. This year, for the first time, the World Tax will research Ukraine that testifies to maturity of the tax practice in Ukraine and its significant potential.

USD 309 million acquisition of an 85% interest in Copecresto Enterprises Limited (owner of Parliament Group), which was closed March 2008, is followed by a strategic investment of USD 156.5 million in Russian Alcohol, announced May 22, 2008. Parliament Group and Russian Alcohol are two of the largest vodka producers in Russia.

The Copecresto Enterprises Limited deal included acquisition of the group's trademarks, production facilities, premises and land plots. Magisters conducted due diligence of the target group of companies and advised CEDC on various matters in relation to the structuring of the transaction and transaction documents drafting. The Firm also received anti-monopoly clearance for the transaction.

Magisters' involvement in the Russian Alcohol transaction included due diligence of a number of companies of the group located primarily in Russia. This project conducted for the major European investor illustrates the Magisters' growing participation in CIS-wide projects.

Both projects were led by Andrew Mac, Partner and Head of Magisters' M&A and Corporate Practice. Andrew Mac commented on the transactions: "Magisters is very pleased to represent CEDC with their historic entry into the Russian market. Our support for these transactions and many others has solidified our position as a leading Russian M&A practice". Lawyers from Magisters' Moscow and Kyiv offices were involved in both projects. Magisters is a recommended legal adviser for M&A deals by The Legal 500, Chambers, The IFLR 1000, Sliyaniya I Pogloscheniya and other league tables.

The program included performances of well-known jazz bands, one being Jazzamor from Germany, fireworks and various entertainments.

As a result of the independent research, the Firm's Dispute Resolution and Banking & Finance practices were ranked in Band 1, with Corporate/Commercial and Real Estate earning its place in Band 2 among recommended firms in Ukraine. Moscow office's Real Estate practice was ranked in Tier 3 among recommended firms for Russia.

According to the Guide, the sources it interviewed applaud the firm's "genuinely professional approach and depth of quality, which really make a difference to a deal" and highlight the firm's "international experience, Western attitude and understanding of clients' needs."

According to Chambers Europe 2008, a Moscow office's client found the firm "impressive, concise and direct - the pricing was reasonable and the team worked well to fulfil our expectations."

In the individual rankings, Chambers Europe singled out Magisters' Partners Volodymyr Baibarza and Oleg Riabokon in Band 1 in recognition of their experience in Corporate/Commercial, naming Mr. Baibarza "one of the best legal practitioners in Ukraine, with almost unparalleled knowledge and experience."

Partner Olexiy Reznikov earned his place in Band 1 in Dispute Resolution on the basis of excellent market feedback, which characterises him as "definitely one of the strongest litigators nationally," according to Chambers Europe. 

Partner Olga Khoroshylova was ranked in Band 2 in Banking & Finance being named "a smart, knowledgeable lawyer with excellent analytical skills, who shows great promise."

Firm's Partner Serhii Sviriba was recognized in Band 2 of Dispute Resolution ranking praised for his international arbitration work. According to Chambers Europe, clients say that "he has a wide view of the law and always brings up very valid business points."

Magisters' Former Partners and currently Deputy Head of State Tax Administration of Ukraine Sergii Vlasenko was ranked in Band 2 in Dispute Resolution, highly acclaimed by observers as "a very esteemed name in the market."

Chambers Europe ranks the leading lawyers and law firms both locally, by country, and Europe-wide. According to Chambers Europe, their researchers talk to clients and find out which law firms they use and how they rate them for their legal ability and client service. On the basis of this research, they identify the world's top lawyers.

CIS-based law firm Magisters became a Ukrainian member of Taxand, the first independent global tax network represented in 44 countries. There is one member firm per country - in Ukraine, the qualifying member is Magisters.

"Taxand's phenomenal growth is based on giving clients what they want - access to a truly global network of high quality tax advisory firms not compromised by audit-based conflicts of interest," said Frédéric Donnedieu de Vabres, chairman of Taxand. "I am delighted to welcome our latest Taxanders because of the caliber of people they bring to the Taxand table and their shared commitment to putting clients first."

Formed in 2005 by a group of nine premier tax firms from countries around the world, Taxand is the first global network of independent tax advisors. Now operating in 44 countries, Taxand has more than 300 tax partners and more than 2,000 professionals serving the global marketplace. Moreover 78 percent of Taxand member firms are ranked in the top tiers of World Tax 2008, the International Tax Review's global guide to the world's leading tax firms.

Oleh Marchenko, Magisters' partner and head of tax practice, commented: "Magisters is proud to be joining the Taxand network as its member firm for Ukraine. We are highly devoted to growing our tax practice and maintaining our market leadership. No doubt, becoming a member of Taxand will help us achieve these goals and further strengthen our ability to serve our clients on a global basis."

As part of Magisters' strategy on building a leading tax practice across the CIS, in March this year the firm also hired as a tax partner Vladimir Didenko who has more than 15 years of experience servicing leading Ukrainian and international clients.

Magisters' former Partner and now Deputy Head of the State Tax Administration of Ukraine Sergii Vlasenko also earned his place among Ukraine's 50 most prominent lawyers.

The rating is entirely based upon the results of the questionnaire survey among legal counsels of Ukrainian companies. The respondents were asked one question: "Which Ukraine-based lawyer would you entrust your case?" Those lawyers, whose names are called more often, got into the list.

The research was conduced by "Yurydychna Gazeta" [Legal Gazette] newspaper.

This year the research also introduced a TOP-10 of Young and Talented Lawyers of Ukraine rating, which included Tetyana Kiselyova, an associate from the Magisters' Banking & Finance Practice.

This survey was based upon four main criteria: age, personality, achievements and ambitions.

"We are proud to say that Magisters has grown into a truly international law firm and is competing successfully throughout the CIS," said Oleg Riabokon, Magisters' Managing Partner. "Over the past year we have successfully represented clients not only in Russia and Ukraine, but also in Armenia, Azerbaijan, Belarus, Kazakhstan and Georgia. Our membership in international networks of law firms has proven to be very effective in representing our clients' needs all over the world."

Magisters enjoyed a successful year in 2007, with revenues increasing to USD 35 million from USD 22 million in 2006 and five new partners joining Magisters’ Kyiv and Moscow offices during that same period. In March 2008, the firm changed its name to Magisters, a move designed to reflect its continued evolution as a truly international law firm.

Last year the firm introduced a new position of Chief Operating Officer and hired Jason E. Bruzdzinski to take over administration and management of the firm. Magisters also implemented an internally created "Platinum Standard" of excellence to streamline its business operations.

"Magisters and its people take great pride in their work for international clients over the past eleven years," Jason E. Bruzdzinski said. "Today the firm is strong and the future holds boundless potential for Magisters to be the leading firm providing legal services in jurisdictions CIS-wide."

To celebrate the 11^th anniversary, Magisters invited its clients, employees, business partners and friends to the Kyiv Golf Club on May 23. The program will include performance by a well-known jazz band and golf lessons for the Magisters' guests.

On April 19 and 23, Olexiy Reznikov, Honored Lawyer of Ukraine and Partner at Magisters, conducted two master classes on "The principles of psychological techniques in legal practice" for students at the Law Faculty of the International Solomon University.

An attorney with seventeen years of experience in law, Olexiy Reznikov shared his experience with future lawyers, particularly regarding appearances in the court, the preparation of a defense and models of behavior in unexpected situations during the court hearings.

He also explained the students, why it's important to anticipate the victory in a case, how to conduct yourself with more experienced lawyers and how to develop relations with clients and colleagues.

At least five master-classes are planned with his participation within the framework of the Firm's program aimed at legal education development. They will all be held at the International Solomon University.

Answering students' questions why he opted for master classes being one of Ukraine's most prominent attorneys, Olexiy Reznikov said: "I am always trying to learn something new and explore unknown directions. Some time ago, I realized that I've reached the level when I have enough knowledge and information to share it with those who will benefit from it. Besides, Magisters and I endeavour to help shape the juridical culture in Ukraine, and I hope that master classes and the program of legal education development will contribute to it greatly."

Sergii Vlasenko, Honored Lawyer of Ukraine, Deputy Head of the State Tax Administration of Ukraine and until March 2008 - Partner at Magisters, conducted a pilot master class at the same university on April 5.

During his master class, Sergii Vlasenko spoke to future lawyers of the role played by the mass media during the course of proceedings, particularly, about what has to be taken into consideration when conducting court hearings at which the mass media is present and how live coverage at court hearings affects proceedings.

The master classes were conducted within the framework of the Firm's corporate program aimed developing the legal education in Ukraine, which includes a series of initiatives, among them participation of the Magisters' Partners and associates in reading lectures, conducting master classes, arranging video conferences and other educational measures. The aim of the program is for future Ukrainian lawyers to increase their level of practical knowledge.

Photos from the master class:

| 1 | 2 | 3 | 4 | 5 | 6 |

March 14-20 a prestigious Fifteenth Annual Willem C. Vis International Commercial Arbitration Moot Competition was held in Vienna, Austria. Every year the competition attracts hundreds of teams representing leading law schools from around the world.

Along with 203 law schools, the teams from National Taras Shevchenko University of Kyiv, Donetsk National University, Yaroslav the Wise National Law Academy of Ukraine and National University of "Kyiv-Mohyla Academy" competed for four prestigious awards including Best Memorandum, Best Individual Oralist and Best Team Orals.

The Moot is intended to stimulate the study of international commercial law and facilitate the use of international arbitration to resolve international commercial disputes. The Competition focuses on a dispute in a contract of sale subject to the United Nations Convention for the International Sale of Goods (CISG).

The Competition consists of two main phases: writing of memorandums for claimant and respondent and hearing of oral argument based upon the memoranda.

This year the winners are: 

• Best Team Orals: Carlos III University of Madrid (Spain)
• Best Individual Oralist: Lennart Beckhaus, University of Münster (Germany)
• Best Memorandum for Claimant: University of California, Berkeley (USA)
• Best Memorandum for Respondent: University of Heidelberg (Germany)

CIS-based Magister & Partners has simplified its brand. As of today the firm will be known simply as Magisters. The law firm aims to be more easily identified and distinguished among multinational competitors operating in the Commonwealth of Independent States (CIS).

Approximately 60 percent of Magisters' clients are large international companies of European and Northern American origin, including Citigroup, Deutsche Bank AG, Glaxo Smithkline, U.S. Steel, Viacom, and many others. The remaining 40 percent of the firm's clients are based in the CIS.

The law firm plans active expansion into other major CIS markets over the next five years from its offices in Kyiv and Moscow.

"Magisters is competing with international giants in the CIS legal sector. To remain at the forefront, we have streamlined our management and built up our regional expertise by enlisting several reputable law practitioners as partners. Now it is time to refresh the firm's brand. 'Magisters' is simple and easy to remember for our international clients. At the same time, we preserve the core of our brand that our clients and the industry associate with expertise and service," says Oleg V. Riabokon, Managing Partner.

Magisters grew to 220 personnel in 2007 from an initial team of three in 1997. Over the same period, revenues increased from USD 46 thousand to USD 35 million. The firm is currently led by 12 partners, five of which joined the firm within the last year.

Jason E. Bruzdzinski, Magisters' Chief Operating Officer explained, "The word 'magister' is derived from Latin and means 'master'. We want the world to know that mastery and excellence are and will remain at the very core of our brand. Our brand revitalization reflects the continuity of this firm's high standards and also acknowledges our maturity as a leading CIS-based law firm."

The firm's trademark spiral has also undergone a subtle change. The spiral, historically a symbol of continuous development, now appears in platinum. This adjustment reflects the company's internally created "Platinum Standard" of excellence.

Magisters' logo for download: JPG and EPS.

Vladimir Didenko has over 15 years of experience advising domestic and multinational companies on complex tax matters while working for PricewaterhouseCoopers Ukraine. At his previous position Mr. Didenko specialized in advising on structuring of investments and operations and serviced clients in a variety of industries, including telecommunications, industrial and consumer goods, real estate, technology and financial services. He earned a degree in economics from Kiev Institute of National Economy.

Vladimir's profound tax expertise greatly complements Magister & Partners' strategy on building up a leading Tax Practice across the CIS focusing on domestic and international M&A, real estate and banking and financial sectors. In his new role Vladimir Didenko will work closely with Oleh Marchenko, Partner and Head of Tax Practice in coordinating the provision of tax services across the team's client base in Kyiv. 

Commenting on Vladimir Didenko's appointment, Firm's Managing Partner Oleg Riabokon said: "To attract a Partner of such skill and experience to Magister & Partners Tax Practice is a testament to the department's reputation and heralds an exciting new phase for its further development. We are confident that Vladimir's appointment will further strengthen the depth and quality of service we offer to our clients."

Magister & Partners with Ukrainian Fulbright Association and Georgetown University held a video conference on March 17^th for the Ukrainian university students interested in international legal education.

The video conference originated from the Institute of International Relations of the Kyiv Taras Shevchenko National University. The video conference was moderated by Myron Stachiw, Director of Ukrainian Fulbright Association, and drew an audience of more than 50 university students.

Two senior administration officials from the Georgetown University Law Center explained key aspects of the LL.M. program and admission requirements. Two Ukrainian students currently pursuing their LL.M. degrees at the University on a Fulbright scholarship shared insights from their experiences in Georgetown University.

Jason E. Bruzdzinski, Magister & Partners' Chief Operating Officer, and Valery Fedichin, a Partner in the Firm, as well as Magister & Partners LL.M. and J.D. holders discussed the value of Western legal education for practical application at a leading, CIS-based international law firm. Magister & Partners associates, Olena Koltko, J.D., and Yuri Nikolaychuk, LL.M., said that their degrees from prestigious U.S. and European universities helped them develop and apply legal analysis and legal reasoning in their daily work.

Students in the audience were especially interested in the question of how to choose the right educational program and how to prepare the application. The Georgetown faculty explained that students wishing to pursue a degree abroad should carefully research the programs paying special attention to Universities' specific admission processes, deadlines and special requirements. The group explained that a strong letter of recommendation, official transcript and personal statement from the applicant are the key documents for the first stage of the admission process for Georgetown University's Law Center.

The event closed with brief remarks from the organizers.

Jason E. Bruzdzinski said: "Magister & Partners remains committed to support legal education through a number of special initiatives led by Managing Partner, Oleg V. Riabokon, and I. International legal education is one of the key qualifying criteria for young lawyers wishing to join the Magister & Partners team. We have been impressed by the great potential of interested students from the CIS - and anticipate that many will be highly successful in their pursuit of advanced legal education."

Myron Stachiw said: "We thank all participants and look forward to continued cooperation on presentations which expand educational horizons for Ukrainian students, something we at Fulbright strongly believe in. We encourage all interested and qualified students to pursue their dreams, whether it be through Fulbright or another grant program."

Dorothy Mayer, Director of International Student Services at Georgetown Law, said: "We are very grateful to Magister and Partners and Fulbright Ukraine for their strong interest in promoting advanced legal education in Ukraine. This video conference was an important opportunity for Georgetown Law to interact with the thriving legal community in Ukraine, and to give advice to the talented young lawyers so essential to Ukraine's continuing legal and economic progress.  We are especially proud that Magister & Partners founding partner, Oleg Riabokon, LL.M. '96, is a Georgetown Law graduate. He has taken very seriously his professional responsibility to advance the development of the legal profession in Ukraine and throughout the CIS; he is a role model for the next generation of lawyers."

By results the preliminary rounds, the teams of the National University of Kyiv-Mohyla Academy and Yaroslav the Wise National Law Academy of Ukraine were chosen to compete in the final round held on the last day of the Competition.

The final round was opened by a welcoming speech of Yuri Mukhin, winner of the 12^th Ukrainian National Championship of the Philip C. Jessup 2007 Competition and President of the European Law Students Association. He said that participation at the Philip Jessup Competition is a great opportunity for each law student, and personally for him it became a cornerstone in his career. 

The final round was a spectacular contest between the two teams. Finally, the team from the National University of Kyiv-Mohyla Academy won the title of Ukrainian National Champion and will represent Ukraine at the International Championship in Washington, D.C. on April 6-12, 2008.

The "Best Memorial" prize of the National Championship went to Yaroslav the Wise National Law Academy of Ukraine, and the "Best Oralist" prize was given to Tetiana Opanasiuk, a student from the National University of Kyiv-Mohyla Academy.

The level of participants' knowledge was evaluated by Magister & Partners associates Oksana Ilchenko, Markiyan Kliuchkovskyi, Olha Harasymiv and Roman Stepanenko, together with judges from the Institute of State and Law named after Koretskyy, OSCE, Baker & McKenzie, DLA Piper, Beiten Burkhardt, Danylko, Kushnir, Soltys & Yakymyak and the Institute of Law Studies, Polish Academy of Sciences.

For the sixth year in a row, Magister & Partners serves both as the National Administrator and sponsor of the National Jessup Competition in Ukraine.

The terms of the agreement will see CME acquire all minority interests in Studio 1+1. Upon completion of the transaction, CME will own 90% of the shares and will have a right to acquire the remaining 10%. The transaction is expected to close by the end of the second quarter of 2008 following the receipt of regulatory approvals.

Magister & Partners' team of attorneys, including Markiyan Kliuchkovskyi and Arseniy Milyutin, was led by Serhii Sviriba, Partner, Head of International Arbitration & Litigation Practice, and Olexiy Reznikov, Partner, Head of Dispute Resolution Department.

Serhii Sviriba commented: "This was a complex but interesting transaction across several international jurisdictions including Ukraine, Germany, Switzerland and the USA, amongst others.  We were able to leverage both our domestic Ukrainian and international legal services expertise to ensure timely closure of the deal."

Founded in 1995, Studio 1+1 is one of the most popular national TV channels in Ukraine, reaching out almost 47 million people with an all-day audience share of 16% and prime time audience share of 18.2% in 2007.

CME is a TV broadcasting company operating leading networks in six Central and Eastern European countries with an aggregate population of approximately 90 million people.

The guide is published by Legalease Ltd., the publishing house best known for its Legal 500 directories. European Legal Experts 2008 is based upon a research to identify about 3,000 of the leading lawyers of Europe in a wide range of practice areas.

Dmitry Dyakin, Magister & Partners' Managing Partner of the Moscow Office, is recommended in the guide's Russian chapter for both Dispute resolution and Corporate/M&A. Dmitry's recent accomplishments include successful representation of the clients in some high-profile litigations in Russia, notably the ones against state-owned corporations and monopolies.

Andrew Mac, Partner with Magister & Partners, is commended for Corporate and M&A in Russia. Mr. Mac chairs the firm-wide M&A and Corporate Practice, which now comprises over 30 lawyers. Andrew Mac leads many of the Firm's projects both in Russia and Ukraine. Most notable of his recent projects include advising a European pharmaceutical company on M&A issues, and Shell International Limited on the establishment of a joint venture in Ukraine.

In the area of intellectual property (IP), Pavel Sadovsky, the Firm's Associate, was recognized. The main focus of Pavel's legal practice is IP protection and dispute resolution. Pavel holds a PhD in Law Degree from the Russian State Institute of Intellectual Property and gained his experience at Rospatent. His recent cases include drafting of a sophisticated copyright transfer agreement, as well representation of a number of clients in various disputes in Russian courts.

The transaction is expected to be completed in the next few months after the receipt of the relevant approvals both in Italy and Ukraine. At closing, Intesa Sanpaolo will pay a countervalue of approximately EUR 504 million.

Pravex provides personal, mortgage, and auto loans and revolving credit cards and is one of the three major Ukrainian providers of point-of-sale consumer finance to approximately 1.2 million clients. Pravex is unique in Ukraine in that its customer loans portfolio is entirely funded by customers' deposits.

Intesa Sanpaolo is a one of Europe's five largest banking groups resulting from the merger between Banca Intesa and Sanpaolo IMI. It has leadership in the Italian market and a strong international presence focused on Central-Eastern Europe and the Mediterranean basin.

Magister & Partners acted as a Ukrainian law advisor for Intesa Sanpaolo. Magister & Partners' team was led by Andrew Mac, Partner, head of the Firm's M&A and Corporate Practice, assisted by Associate Oksana Ilchenko.

Oksana Yukalo brings significant international experience to Magister & Partners and expertise in financial management, accounting, and audit. Ms Yukalo gained over a decade of experience leading numerous projects including budgeting and controlling financial flows, strategic planning, and human resources management. Ms. Yukalo has steadily advanced through positions of increasing responsibility in a number of industries including telecommunications, FMCG, professional services, and media.

Magister & Partners' Chief Operating Officer Jason E. Bruzdzinski commented on the appointment: "Our Firm's growth and strategic plans for the future require a financial professional with deep experience and a strong international background. I am proud to have Oksana as a leader within my administration. Her experience and management talents inspire great confidence and trust. She will unquestionably strengthen the capabilities of the entire Magisters team."

Prior to joining Magister & Partners, Oksana Yukalo worked as Finance and Administrative Director at Emergex Business Solutions (EBS), a business consulting company. She earned her Master of Arts degree in Financial Management from the National Academy of Public Administration in Kyiv.

The interests of Energoatom were represented by Magister & Partners.

Oleksiy Reznikov, co-head of the Dispute Resolution Practice and the Firm's Partner, commented on this decision: "I am delighted that our Firm represented interests of the enterprise which is of strategic importance for Ukraine. This is a long-awaited and tough victory. We have managed to win due to our vast experience and knowledge of Ukrainian national judicial process, as well as meticulously developed strategy of the protection of Energoatom's interests in this case. I would also like to express our gratitude to Energoatom's legal department which supported us by all means throughout the whole proceedings in the court."

Serhii Sviriba, head of international arbitration and dispute resolution practice and the Firm's Partner noted: "Principle arguments that made this victory possible were based on concrete evidences received in overseas jurisdictions."

Legal protection of the interests of Energoatom was ensured by a team of attorneys including Oleh Beketov, Andriy Sydorenko and Dmytro Marchukov led by Oleksiy Reznikov and Serhii Sviriba.

Magister & Partners advised Odessa City Council on matters of Ukrainian law. Magister & Partners' team in this transaction was led by Olga Khoroshylova, Partner, head of the firm's Banking & Finance practice, assisted by associates Tetyana Kiselyova, Roman Stepanenko and Viktoriya Podvorchanska. Tax aspects of the transaction were covered by Oleh Marchenko, Partner and the head of the Tax practice of the firm.

Valery Fedichin brings a wealth of experience to Magister & Partners, including expertise in capital markets, financing and secured transactions, corporate and mergers and acquisitions. Previously, Mr. Fedichin was a Partner at Sayenko Kharenko, a local Ukrainian law firm. His professional background includes more than a decade of experience at a number of multinational law firms where he served numerous clients. Mr. Fedichin has played a key role in several high-profile projects, including the sale and purchase of several Ukrainian banks and the finance of insurance companies by international lending institutions.

Managing Partner Oleg Riabokon, commented on Mr. Fedichin's appointment: "The increasing volume of  banking and finance deals by our clients puts high demand on our resources. To ensure top quality and timeliness of our services we are committed to expanding our Banking and Finance practice both through development of our lawyers and recruiting the best specialists in the market. Valery's impressive background and experience will further strengthen our leading position in this sector."

Valery Fedichin commented: "Magister & Partners is well-known as a dynamic firm with long-term strategies and ambitious goals. The Firm is undergoing an exciting period of development, and I am delighted to join such a forward-looking and agile team. In everything that the Firm does it shows its professionalism. The team's expertise and experience are unrivalled in the legal market, and I am going to contribute to its success as much as possible."

Mr. Fedichin earned his LL.M. degree in International and Comparative Law from Southern Methodist University Law School and also an LL.B. degree from Kyiv National University.

Magister & Partners' strategic growth continues in 2008 with the appointment of Valery Fedichin. Senior Advisor Sergey A. Karaganov and Chief Operating Officer Jason E. Bruzdzinski joined the Firm in 2007. The Firm's other strategic hires have included, Partners John Patrick Ryan and Andrey Shevchenko in our Moscow office.