PRESS RELEASE

Dr. Vladimir Kvint elected as Foreign Member of the Russian Academy of Sciences

The Annual Meeting of the Russian Academy of Sciences, which took place on May 25, 2006 , in Moscow , elected 29 new Foreign Members (Lifetime Title). Among them was only one Economist: Dr. Vladimir Kvint, Professor of American University's Kogod School of Business in Washington D.C. and President of the International Academy of Emerging Markets.

The Russian Academy of Sciences is one of the most prestigious academic institutions in the world, established by Peter the Great in 1724.

Dr. Vladimir Kvint is only the third economist among current Foreign Members of the Russian Academy of Sciences. The two other serving members are the former Chief Economic Advisor to President Clinton, Nobel Laureate in Economics, Dr. Joseph Stiglitz and Professor of the University of Pennsylvania , Nobel Laureate in Economics, Dr. Lawrence Klein.

This election, the highest lifetime academic honor that the Russian Academy of Sciences may confer on a foreign scholar, was made in recognition of Dr. Vladimir Kvint's advancement and development of the theory and analyses of both the Global Emerging Market and Global Business.

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May 2005, Editorial Participation at International Journal of Emerging Markets .

October 2004, The Academy at the facilities of Kogod School of Business of American University established a quarterly seminar “The New Perspectives on Global Emerging Market”.

September 2004, The International Academy of Emerging Markets and Kogod School of Business of American University in Washington , DC started to develop cooperation program.

June 19th, 2003 Conference “Global Reception RUSSIA”
The International Academy of Emerging Markets and the Global Independence Center have gathered business people, students and university faculty members in order to address the increasing recognition and development of U.S.-Russian relations that offer tremendous opportunities. This is a forward looking forum on U.S.-Russian economic relations.

June 16th, 2003 Book Presentation “Investing Under Fire
Vladimir Kvint, President of the Academy was a leading speaker and one of the co-authors of the business book published by Bloomberg Press. Bloomberg Press organized the book presentation and reception together with the International Academy of Emerging Markets to introduce the book to the business community.

June 10th, 2002 Conference “Bulgaria as an Emerging Market”
A conference organized by the International Academy of Emerging Markets together with the Business Club of Bulgaria, aimed to educate worldwide investors, university professors and students on the opportunities and challenges of investing in Bulgaria.

April 2-4th, 2002 Conference “US-Russia Business Meeting”
A conference organized by the Union of Russian Entrepreneurs, the Council for Trade and Economic Cooperation and the International Academy of Emerging Markets desgned to educate worldwide investors, university professors and students on the opportunities and challenges of investing in Russia.

October 29-30th, 2002 Conference “The Regional Finance & Investment Conference for Southeast Europe”
A conference organized by the Euromoney Institutional Investor with the participation of the International Academy of Emerging Markets, where the president of the Academy was the main guest speaker. The purpose was to educate worldwide investors, politicians and university professors on the opportunities and challenges of investing in Eastern Europe.

January 24th , 2001 Conference “The New Role of the UN and multinational corporations in Global Emerging Markets.” Fordham University's Schools of Business, in collaboration with the International Academy of Emerging Markets, have gathered over 80 diplomats, business people, students and university faculty members in order to address the issues that businesses are facing in today's global marketplace at the conference entitled “The New Role of the UN and multinational corporations in Global Emerging Markets.” Vladimir Kvint, President of the Academy chaired the conference.

September 20th, 2001 The International Academy of Emerging Markets became a Collective Member of the International Academy of Regional Development and Cooperation, (diploma number: K-024).

October 18th, 2000 Tax Exemption by IRS
The Academy by decision of United States Internal Revenue Service of the Department of Treasury, on October 18th, 2000, was declared “exempt from federal income tax under section 501(a) of the Internal Revenue code.” By the same decision the Department of Treasury will treat the Academy “as a publicly supported organization, and not as a private foundation” (Foundation status classification 509 (a)(1)). Grantors and contributors may rely on this determination of the IRS, that the Academy is not a private business foundation.

February 14th, 1997 Not-For-Profit Organization Certification
By the decision of Education Department of the State of New York, on February 14th, 1997 the Academy got a certificate of incorporation as a not-for-profit organization.

March 5th, 1997 Academy’s Incorporation
The Department of State of New York on March 5th, 1997 issued a certificate of incorporation to the International Academy of Emerging Markets, Inc.