1. www.magisters.comBased in the CIS. Trusted worldwide. CIS Independent Firms vs. International Giants: survival or prevalence? Oleg Riabokon Managing Partner

2. www.magisters.comBased in the CIS. Trusted worldwide. | 2 To compete successfully… in-depth international expertise in the related fields; relevant experience in managing major international transactions; strong reputation recognized internationally; advanced management structure; fluency in legal English; salaries matching international firms.

3. www.magisters.comBased in the CIS. Trusted worldwide. | 3 Status Quo International firms dominate in the largest CIS jurisdictions: Legal 500 (2007) Top-5: no Russian firms (only 17 th ); 3 Ukrainian firms; 1 Kazakh firm; by contrast top 20 firms in China are all Chinese. PLC Which Lawyer? 2007 describes CIS firms as: strong when local knowledge and contacts are required, primarily servicing small- and mid-market transactions.

4. www.magisters.comBased in the CIS. Trusted worldwide. | 4 Helpers: localized markets and law firm cultures; refocusing by major international firms on premium rate transactions; conflicts of interest; quicker route to partnership; lower fee rates; business and political ties in the home jurisdictions; referral networks.

5. www.magisters.comBased in the CIS. Trusted worldwide. | 5 Challenges: lack of transactional experience; poor management structures; no formal training programs; problems with recruitment of top legal talent; large investments needed; poor English skills; a lack of responsiveness and specialism; a lack of Bar requirements for foreign lawyers.

6. www.magisters.comBased in the CIS. Trusted worldwide. | 6 What can be done at the CIS level… to develop a special agreement on legal services to level the playing field with international firms; to create a self-regulating body to foster strong ties with other independents in the region; to inherit international management models and bring transparency to the legal business; to promote changes to the legal education.

7. www.magisters.comBased in the CIS. Trusted worldwide. | 7 Magisters Recent Achievements creation of an international partnership (Russia, Ukraine, US, etc.); financing Corporate Center for Education (cooperation with leading international and domestic law schools); hired an American with more than 17 years of business consulting experience in the U.S. as our COO; four recent partner-level lateral hires attracted seasoned professionals with more than 15 years of experience working for international law firms.

8. www.magisters.comBased in the CIS. Trusted worldwide. | 8 Magisters Recent Achievements first in the CIS to bring a partner on a secondment from a leading UK firm, Pinsent Masons, to bolster its infrastructure practice; joined the leading international networks of independent law firms: LexMundi, Globalaw, Taxand, and FraudNet; created steady work flow both in-bound and out-bound with mega firms, as well as other independents; first in the CIS to be awarded Investors in People standard.

9. www.magisters.comBased in the CIS. Trusted worldwide. | 9 About Magisters Magisters is a CIS-based international law firm: offices in Moscow and Kyiv; 120 lawyers, 11 partners; Investors in People standard: membership in leading law firm associations: recognition and awards:

10. www.magisters.comBased in the CIS. Trusted worldwide.| 10 Thank you! 23a Tarasa Shevchenko Nab. Moscow, 121151, Russia Tel. +7 495 730 2320 Fax +7 495 730 2330 oriabokon@magisters.com Oleg Riabokon Managing Partner