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 VANCOUVER, B.C., Aug. 17 /PRNewswire/ -- EXOR (OTC BULLETIN BOARD: EXDIF; Vancouver: EDI) announced it has finalized negotiations and signed the contract today for a $251(US) million dollar project in St. Petersburg, Russia. The Joint Partnership Agreement between Afganvet Ltd. Co., Eastern Europe Fund Corp. and EXOR Data Inc. gives EXOR a 60 percent equity position in the project.
 EXOR is proud to be working with two other international partners who are committed to developing a world class example with the Business Opportunity Center project that integrates financially viable business and learning opportunities aimed at putting people in charge of their own ongoing employability and personal and business prosperity.
 The Business Opportunity Center, including 350,000 square feet of new facilities, is a major revitalization project covering a square block in downtown St. Petersburg. The project consists of a high-rise building with manufacturing, warehousing, commercial, office and retail space plus 250 fully equipped small office business suites. The Business Opportunity Center will create financially viable technology and service business operations integrated with a training center to help Russia's ex-servicemen turn their expertise to new uses in the civilian work world.
 Redeploying Russia's returning military into productive civilian lives as quickly and as effectively as possible is a political, economic and cultural priority that is supported by the world's leading industrial nations. The U.S. government has agreed to guarantee capital investment used for housing and retraining of Russia's ex-servicemen for civilian job-related skills.
 As per the Joint Partnership Agreement, Afganvet Ltd. Co. proscribes the mandate for the project and will provide the property in St. Petersburg; Eastern Europe Fund Corp. will provide the structure for the Joint Partnership project through its established business, banking and political relationships; and EXOR will provide technology transfer/know how, manufacturing, marketing and training beginning with an initial inventory of 5,000 units of EXOR's latest technology, the integrated All In One Business Solution computer system. EXOR's All In One design incorporates components from U.S. leaders in the industry who have agreed to work with EXOR and who can guarantee quality on EXOR's delivery of large quantities: Lexmark/IBM, Microsoft, AMI/American Megatrends and more.
 Afganvet Ltd. Co. is a Russian-based privately held corporation with property holdings and business operations in different regions throughout Russia. Their mandate is to redeploy Russia's returning military into financially viable businesses supported by necessary training. Some of the company's business operations include providing security and other services.
 Eastern Europe Fund Corp., a privately held international venture corporation with offices in Toronto, has established a Russian-Canadian Joint Venture Division which works through an already established global network of regional offices, the majority of which are in the Commonwealth of Independent States (CIS). The company uses its corporate structure with a solid managerial, financial and technical base to develop and commercialize lucrative, yet untapped, market opportunities throughout Russia and the CIS.
 EXOR specializes in software development, the manufacturing of integrated computer systems, the design and installation of networking systems and merchant banking activities. EXOR's strength is its capacity to combine technologies and software engineering solutions with EXOR's premier private labeling strategy on the world market. As a result of EXOR's success in negotiating high technology projects in the international financial arena, the company established its merchant banking activities in Europe and now has the capacity to facilitate assured funding for major U.S. multi-million dollar projects.
 EXOR will take lead responsibility for managing the design and development of the project based on their already successful completion of multi-million dollar contracts in Eastern Europe, including a $2.6 million technology contract in the oil industry in Russia. EXOR will release details of the design and development of the Business Opportunity Center project soon.
 Financing for facilities, inventory, equipment and training for the $251(US) million Business Opportunity Center will be facilitated by EXOR in conjunction with a major Russian national bank. With this final signing of the contract now completed. EXOR can move to the next stage of negotiations to consolidate assets and financing arrangements for the project.
 The contract for the Business Opportunities Center in St. Petersburg, Russia, was signed by all three major partners fully aware of the challenges ahead and the significance of keeping their focus clear on the main intent behind this project: to create opportunities for learning and business success that support the shift to a productive free market economy in Russia. EXOR, Afganvet Ltd. Co. and Eastern Europe Fund are committed to bringing their combined resources together -- their "genius, power and magic" -- to make this project successful.
 In the words of Goethe: "Until one is committed, there is hesitancy, the chance to draw back...the moment one definitely commits oneself, then Providence moves too...Boldness has genius, power and magic in it. Begin it now."
 -0- 8/17/93
 /CONTACT: William Jay Elder, president, of EXOR, 604-739-8208/

CO: EXOR Data Inc.; Afganvet Ltd. Co.; Eastern Europe Fund Corp. ST: IN: CPR SU: CON

JH-SB -- SE018 -- 3787 08/17/93 18:51 EDT
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Publication:PR Newswire
Date:Aug 17, 1993

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