Northern Caucasus Resorts Company

HONG KONG, November 14, 2011 - - OJSC Northern Caucasus Resorts Company Presents Project at Hong Kong Industry Event Invites Asia-Pacific Investors for $30-billion Regional Economic Renewal Project The development company overseeing construction of a massive system of ski, beach and natural heath spa resorts covering 50,000 sq km in the North Caucasus Mountains, stretching 1,200 km from the Caspian Sea to the Black Sea and bordering Asia, was named the first Russian winner ever of a renowned MIPIM global real estate competition.

ST. PETERSBURG, Russia, November 2, 2011 - First Phase to Reach $300 Million for Environmentally Advanced Electrical and Heating Plants For World's Largest Tourism Project Worth $30 Billion in Russia's North Caucasus Region Power System Will Integrate Renewable Energy Sources from Solar and Wind Will Also Supply Populations Near Planned Resorts and Drive Area's Economic Growth The Russian state company responsible for developing a $30-billion tourism project in the country's mountainous North Caucasus region, including world-class skiing, unique mineral spas and the first modern beach resorts on the Caspian Sea, has signed a joint venture agreement with Korean Western Power Co., Ltd.