1. Panel II: Lessons from the Economic Crisis Alexander Muranov Managing Partner Fourth CIS Local Counsel Forum, Kiev 25 June 2009

2. “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty”. Sir Winston Churchill 2Fourth CIS Local Counsel Forum _ Lessons from the Economic Crisis _ Muranov, Chernyakov & Partners

3. Some priorities to focus on  Optimization of human resources  Cleaning up and developing internal procedures and infrastructure  Establishing interest groups internally to focus on current client needs  Increase level of information exchange internally and externally  Research & Development 3Fourth CIS Local Counsel Forum _ Lessons from the Economic Crisis _ Muranov, Chernyakov & Partners

4. Examples of what we have done  Human Resources Partners Promotion: 2 new partners Lawyers Recruitment Business Development Director Recruitment  Legal upgrading of business environment Concept for the development of Moscow as financial center Legal Business Sector in Delovaya Rossiya 4Fourth CIS Local Counsel Forum _ Lessons from the Economic Crisis _ Muranov, Chernyakov & Partners

5. Examples of what we have done (cont.)  Investing in IT infrastructure Internally: information center Externally: new website; database of digital version of all Soviet legal official editions issued before 1991  Logistics: new premises 5Fourth CIS Local Counsel Forum _ Lessons from the Economic Crisis _ Muranov, Chernyakov & Partners

6. Muranov, Chernyakov & Partners Bld. 6, 23 Denisovsky Lane Moscow, 105005 Russian Federation Tel: +7 495 783 7450 +7 495 795 3279 Fax: +7 495 795 0390 Email: office@rospravo.comoffice@rospravo.com Website: www.rospravo.comwww.rospravo.com YOUR KEY VANTAGE POINT Panel II: Lessons from the Economic Crisis Alexander Muranov Managing Partner