Howdy Partner! Romans Baumanis, who has managed our successful Baltics office for nearly three years now, will be an equity owner of The PBN Company, effective January 1, 2005. This is in recognition of Romans' performance and results – working with his great team of professionals in the Baltics – as well as his leadership firmwide, his long-term commitment to the company, and his extraordinary personal qualities. Congratulations Romans!

Email Romans: Romans.Baumanis@pbnco.com

Financial Security. PBN•Moscow is launching the second phase of a public education campaign for the newly formed Federal Service for the Financial Markets, Russia's equivalent of the Security and Exchange Commission. Our assignment is to help communicate financial market protections for investors in Russia.

Email Tatiana and Vadim: Tatiana.Nikulshina@pbnco.com and Vadim.Bely@pbnco.com

Homeland Security. PBN•DC has also been hired by a coalition of terminal operators, shippers and others to urge continued government and private sector efforts to secure U.S. maritime facilities.

Email Paul and George: Paul.Nathanson@pbnco.com and George.Felcyn@pbnco.com

Visit the Coalition for Secure Ports website: www.secureports.org

When CEOs Speak, People Listen. Peter Necarsulmer led a roundtable of Russian CEOs on their business and political views at the Annual Meeting of the U.S.-Russia Business Council. CEOs participating included Artem Bektemirov, Pharmacy Chain 36.6; David Iakobachvili, Wimm Bill Dan; and Mikhail Krasnov, Verysell. Peter also previewed the results of a Russian CEO survey being conducted by PBN in cooperation with IRG, Taylor Rafferty and Renaissance Capital. The full results of the survey, which questioned more than 150 Russian CEOs on issues of corporate governance, transparency and corporate reputation, will be unveiled in Moscow later this month.

Email Peter: Peter.Necarsulmer@pbnco.com

Healthy, Fit and Strong. In conjunction with the USRBC Annual Meeting, representatives of Pharmacy Chain 36.6, Russia's leading health and beauty retailer, spent a week in Washington, D.C. and New York meeting with investors, U.S. government officials, retailers and the media. Pharmacy Chain 36.6 is a PBN client. In addition to the U.S. visit, other recent PBN accomplishments for 36.6 are a feature in the Financial Times and the production of the company's 2003 Annual Report.

Email Nastya: Nastya.Taratina@pbnco.com

See the annual report: www.pbnco.com/eng/news

A $50 Facelift. The U.S. $50 bill has a new look, which was introduced in September by the Federal Reserve System and U.S. Bureau of Engraving and Printing (BEP). The new security and fraud features were unveiled to the world, including in Russia where PBN works with the Federal Reserve and BEP, and the global communications firm for the government’s New Color of Money public education campaign, Burson-Marsteller.

Email Paul and Vlad: Paul.Nathanson@pbnco.com and Vladimir.Berezansky@pbnco.com

Visit the website: www.newdollar.ru

GR Firepower. Another political and government relations "insider" has been added to PBN•Moscow's government relations team. In August, Sergey Kolmakov joined PBN to help represent our clients' interests with the Russian government. Sergey comes to PBN from one of Russia's leading political think tanks, the Foundation for the Development of Parliamentarism in Russia, where he served as vice president. He has been a senior political campaign strategist and advisor to Russian political parties from 1991 to the present, including Our Home Russia, Homeland – All Russia and United Russia, and to the Russian Government and the Administration of the President. He's also been a government affairs advisor to several Russian companies. Welcome Sergey!

Email Sergey: Sergey.Kolmakov@pbnco.com

A Few Other Welcomes! Also welcomes go to two new associate account managers in Moscow – Liza Ovchinnikova and Alexander Oganov. And, three new interns are starting at PBN – Nastya Vlasevnina in Moscow and Lina Reznikov and Alex Witherow in D.C. Welcome to all!

Email our new staff: Liza.Ovchinnikova@pbnco.com, Alexander.Oganov@pbnco.com, Nastya.Vlasevnina@pbnco.com, Lina.Reznikov@pbnco.com, Alex.Witherow@pbnco.com

A Sad Farewell. On the other hand, we all bid a fond farewell to Marina Orlova from our Ukraine office. For the past seven years, Marina has helped to make our Kyiv office run efficiently, effectively and happily! Marina left PBN for an excellent opportunity in the USAID's Contract Office in Kyiv. We wish you the best, Marina!

Tying the Knot. Congratulations goes to Sam Vanderlip, who married his beautiful bride Julia in September. Sam is English Language Editor of the translation department in our Moscow office.

Email Sam: Sam.Vanderlip@pbnco.com