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TAGMET

Italian metal-processing equipment at INPROM metal service centers



Moscow, Dec. 9, 2004 - the presentation of a new INPROM Company notes loan program was made at Moscow Sheraton Palace Hotel.

The implementation of this notes loan is aimed at the reinforcement of circulating assets of the Company's divisions in St.-Petersburg, Nizhniy Novgorod, Lipetsk and Belgorod that were formed in 2004. The program is meant to expand the number of investors in Russia and worldwide who operate with INPROM securities, building a positive credit history.

The Company plans to attract up to $14.3 million by the middle of 2005. The Commercial Bank Admiralteiskiy acts as the organizer and domiciliary of the notes loan. The Investment Company Veles Capital is a co-organizer of this project.