Saturday, April 29, 2006

As reported by Hotels Magazine: "Australia's Publishing and Broadcasting Ltd
(PBL) has signed an agreement with Russia's Crocus Group and is expected to
manage a casino and a hotel in Moscow, said Emin Agalarov, one of owners of
Crocus Group, Russian business daily Vedomosti reported Friday. Crocus Group
is building the 24.300 square meter casino and the about 80,000-square-meter
hotel at the Crocus City Mall at the intersection of the Moscow ring road
and Volokolamskoye highway, Agalarov said.

".However, the agreement between PBL and Crocus Group was confirmed by
Sergei Riabokobylko, managing director of Cushman&Wakefield
Stiles&Riabokobylko real estate company, which consulted the companies on
the project, the daily reported. PBL will be the first foreign company
managing a casino in Russia, Riabokobylko said.

"However, PBL may wait until the legislation regulating gambling business in
Russia is clarified, said Lavrentiy Gubin, spokesman for the
Netherlands-based Storm International B.V. company, that manages casinos in
Moscow, the daily said."