Subject: CASPIAN BUSINESS REPORT

                       US-Azerbaijan Council, Inc.

     1030 15th Street, N.W., Suite 444, Washington D.C. 20005, USA

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        Dear Madame/Sir:



        With the growing importance of the Caspian sea as a major  ex-

port base for oil and gas to fuel the development of the worlds econo-

mies,  the lucrative commercial opportunities presented to Western bu-

sinesses will be substantial. Major Western multinationals have alrea-

dy established a formidable presence in the region. Currently the Cas-

pian  is ranked third when total gas and oil reserves are counted glo-

bally.  This translates into approximately 130 billion barrels of oil,

waiting to be recovered in the region.



        Our bi-weekly  newsletter the "Caspian Business Report" provi-

des the reader with the latest up to  date  information  on  business,

economic  and legal developments in the Caspian.  The information pre-

sented is received directly from our affiliates in the region and then

put together concisely,  with only the most important news relevant to

the demands of our readers published. The newsletter is available in a

variety  of  formats (e-mail,  hard copy) for just $495.00 for a years

subscription (24 issues).



        Our current subscribers include nearly all of  the  major  oil

companies  both in the US and abroad,  as well as numerous global con-

sultancies,  accounting firms and academic institutions.  To subscribe

please  fill  out the simple subscription form on the last page of the

enclosed newsletter and return it to us at your earliest convenience.



        I would like to conclude by thanking you for your time, should

you  have  any further questions please do not hesitate to contact me.



Yours Sincerely,   

Aslan Kurbanov.

Moscow Representative  

(Tel: 095-123-3097)



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              PUBLICATIONS OF THE US-AZERBAIJAN COUNCIL



1. C A S P I A N  B U S I N E S S  R E P O R T :

This bi-weekly market Intelligence Report on the Caspian Region Up to date

business,  govermental,  economic  and legal news from Azerbaijan, Georgia, 

Turkmenistan, Kyrgyzstan, Kazakstan and Uzbekistan.

(One year rate $495.00 mail, $495.00 e-mail)



Major political events                  Government appointments

Energy: international energy projects,  Foreign investments

oil and gas, pipelines                  Currency exchange rate

Economic trends, statistical news       Laws and regulations, legal

Regional transportation                 changes, new decrees and taxes



2. C A S P I A N  C R O S S R O A D S  M A G A Z I N E :

 Analytic Magazine on Economics,  Geopolitics and Law in  the  Caspian

Littoral States:  Azerbaijan,  Kazakstan,  Turkmenistan, Russia, Iran,

and Georgia Caspian Crossroads magazine is a quarterly analytical  ma-

gazine on economic, legal, political, and geopolitical developments in

the Caspian region:  Caucasus, Central Asia, Turkey and Iran. Articles

are  written  by leading Western and regional experts and researchers.

Ethnic conflicts, regional players, political stability, legal and mi-

litary  challenges are reviewed through the prism of impact on the re-

gional economy and foreign investors priorities.  Each issue  features

interviews with US or regional governmental officials on the issues of

immediate importance to the Western economic interests.

(One year rate $195.00 corporate, $75.00 academic, $50.00 individuals)

3. BAKU BUSINESS DIRECTORY. Adresses & telephones and more.(only $99.00)



         OUR CURRENT SUBSCRIBERS ARE THE HIGH-LEVEL EXECUTIVES 

                    FROM THE MAJOR CORPORATIONS:

Chevron Overseas Petroleum            Consafe (Azerbaijan) Limited

Cambridge Energy Research Associates  Azerbaijan Intern. Oper. Company

Caspian Pipeline Consortium Ltd.      Texaco International Petroleum

Amoco Eurasia Petroleum Company       US Department Of State

Exxon Ventures                        Akin, Gump, Strauss, Hauer and Feld 

Baker and Mackenzie                   UNOCAL