The Eliseev Palace Hotel Ltd.

    In order to administer development of a new scope of activity carried out by the group of companies - hotel business - on April 2003 The Center for Humanitarian and Business Cooperation OJSC established The Eliseev Palace Hotel Ltd.

    Today The Eliseev Palace Hotel Ltd. acts as investor and developer of the Taleon-3 project of reconstruction and restoration of the buildings formerly owned by General Chief of police N.I. Chicherin and A.I.Kosikovsky (14A Bolshaya Morskaya St.). The work is carried out pursuant to the resolution issued by the government of Saint-Petersburg and the investment activity contract. The deadline falls at 2007.

    The project is financed, in particular, through attraction of funds in the form of bonded debts. The Eliseev Palace Hotel Ltd. had a success in floating of two issues of bonds of 300 million rubles each.

    Tel.: 324-99-11, fax: 315-92-87, e-mail: main@taleon.ru

    Director General - Alexander Ebralidze