IPORUSSIA, INC. Announces Agreement with CJSC Zavod Metalloconstrukciy.

JERICHO, N.Y. -- IPORUSSIA, INC. (OTCBB:IPOR), a provider of business advisory services to private companies located in the Russian Federation, announced today it has been retained by CJSC Zavod Metalloconstrukciy (ZMK) of St. Petersburg, Russia, a manufacturer of steel structural units.

Under the terms of the agreement with ZMK, IPORUSSIA will receive a 5 percent fee on financing received for which IPORUSSIA provides advice.

Mr Igor A. Kovalevski, Chairman of the Board of Directors of ZMK stated, "It is our pleasure to be associated with IPORUSSIA and we are looking forward to visiting the global financial markets with IPORUSSIA."

ZMK manufactures steel structural units and also provides assembly and installation of the structures as they are delivered to the customer. It has approximately 750 employees and has participated in major projects in Russia including the Wrigley Chewing Gum factory, Philip Morris Tobacco factory and a power plant in the Leningrad Region. In addition it also exports steel structural units internationally to Europe (Finland, Sweden, Germany, Holland), Asia (Indonesia, Vietnam, Pakistan), and South America (Chile).

Mr. Kovalevski further stated, "That they are striving to meet the growing Russian market demand and plan to introduce new innovative technologies in the construction industry. The realization of the plan includes construction and start up of a steel square pipes production line. The project would be implemented under the guidance of the St. Petersburg City Government. The overall cost of the project is estimated at $60 million USD."

We are pleased to work with ZMK and are impressed with its business management team," stated Vladimir F. Kuznetsov, President & CEO of IPORUSSIA, INC. Mr. Kuznetsov further stated, "We welcome the opportunity to assist ZMK in its financing plans so they can more fully participate in the dynamic growth of the Russian construction sector."

About IPORUSSIA, INC.

IPORUSSIA, INC. offers business advisory services to private companies located in the Russian Federation that are interested in raising capital, usually by taking their companies public in the United States, as a means of obtaining capital for their companies and liquidity for their principals and other stockholders.

This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. These factors include, among other things, United States and global economic conditions, the acceptance in foreign markets of securities of companies primarily based in Russia, the Company's ability to attract clients who complete transactions, potential competition from investment banking firms, the Company's ability to attract, compensate and retain personnel with investment banking experience, the effects of compliance with governmental and NASD rules, the effects of the Sarbanes-Oxley Act of 2002 on the Company and prospective clients, the Company's ability to generate additional financing that may be required, the Company's dependence on its chief executive officer and the Company's limited operating history.