Mina Corp: Draft Law's Disguised Tax Violates UK-Kyrgyzstan Agreement

DUBAI, UAE, February 25, 2011 - Mina Corp categorically denies that it agreed to the draft law
passed yesterday in a first reading by Parliament "On special payments made
by the company supplying jet fuel to the Manas Transit Center."

Commenting on the draft law, Dean Peroff of Amsterdam &
Peroff, a representative of Mina's international legal counsel, said: "Mina
Corp has never agreed to any special payments or charges on the fuel it
supplies to the Manas Transit Center. Nor could it because the draft law
violates the longstanding agreement between the governments of Kyrgyzstan and
the United States prohibiting the imposition of any tax or duty on fuel
supplied to the US military. The special payment in the draft legislation
amounts to a thinly disguised tax that would ultimately be payable by the US
military and the US taxpayer. Mina Corp cannot consent, and has not
consented, to anything that violates the US-Kyrgyzstan Agreement and
certainly cannot do so without the approval and authorization of its
customer, the United States Department of Defense."

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