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Helping Train the Next Generation of Russian Business Leaders.

BAKERSFIELD, Calif.--(BUSINESS WIRE)--Sept. 22, 1998--As Russia's financial and political crisis continues to deepen, a local company is working to have a positive impact on Russia's developing economy.

This Sept. 12 to Oct. 12, Tri-Valley Corp., a California-based oil and mineral exploration company, will participate in Russia's historic economic transition by sharing business expertise with a young colleague from the former Soviet Union.

Roman Ivanov is a participant in the Presidential Management Training Initiative (PMTI), a multi-lateral assistance effort proposed by Russian President Boris Yeltsin and supported by 12 nations.

Currently in its pilot phase, the program is designed to develop a generation of progressive, young business people to replace old-school, Soviet managers and lead Russia's difficult transformation in the coming decade. Ultimately, Yeltsin hopes to train up to 35,000 young Russians in Western business practices over several years.

At age 27, Ivanov is a Senior Expert at Rosneft, one of Russia's largest oil companies, which is involved primarily in exploration for oil and gas, processing, production and transport. He won the opportunity to study in the West based on his entrepreneurial ability, leadership potential, and willingness to be an agent of change in the monumental task of building a market economy and new democracy in Russia.

Ivanov hopes his U.S. training will offer the chance to acquire crucial management skills currently lacking in Russia's business environment; specifically he wants to learn about improving organizational structure, effective financial planning, and issues of information management and technical support.

Tri-Valley has also worked extensively with the primary Russian mineral research institute, TsNIGRI, since 1990 and brought a dozen senior geological scientists to its large gold exploration project in Alaska. The company notes that the TsNIGRI specialists have been consistently honorable, competent and extremely hard-working and their services highly beneficial to Tri-Valley and its shareholders.

In fact, TsNIGRI became a shareholder by accepting Tri-Valley stock as part of its compensation. The object was, in part, to enable TsNIGRI to learn more about U.S. corporate practices.

The San Francisco-based Center for Citizen Initiatives (CCI) is one of two organizations charged with implementing PMTI in the U.S. CCI has been active in citizen exchange programs between the U.S. and Russia for 15 years, and has delivered business training to over 1,200 Russian entrepreneurs through its various volunteer-based programs.

These programs are funded on the premise that successful social and economic transition in Russia will only occur with the development of a stable private sector.

PMTI is made possible by donations of time and services from participating companies and host families, a grant from the United States Information Agency, and financial and in-kind support from the Russian government. Other corporate sponsors of PMTI's pilot phase have included DuPont, VISA International, and Dean Foods.

Tri-Valley has headquarters in Bakersfield and is publicly traded on the electronic bulletin board under the symbol "TRIL."
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 22, 1998
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