Confidentiality and Non-disclosure

Neither the Client, nor the Consultant shall disclose, the terms of this Agreement without the consent of the other except to the extent that such disclosure may be required by the laws of the Russian Federation.

Liability of the Consultant

In case of any breach by the Consultant of its obligations under this Agreement the Consultant shall reimburse the Client for the immediate and direct losses the Client suffered as a result of the breach except for lost profit, such reimbursement to be limited to reasonable expenses of the Client.

Dispute Resolution

7.1. The Consultant and the Client will make all reasonable efforts to settle amicably all disputes arising from and in connection with this Agreement.

7.2. Should parties fail to reach amicable settlement of a dispute connected with this Agreement, they may submit the dispute for consideration to the International Commercial Arbitration Court at the Chamber of Commerceand Industry of the Russian Federation («ICAC») inaccordance with the Procedure of such arbitration. The ICAC shall have exclusive jurisdiction to hear such disputes.

7.3. The law applicable to this Agreement shall be the law of the Russian Federation.

Duration, Alteration and Termination of the Agreement

8.1. This Agreement shall come into effect immediately following its execution by the Client and the Consultant and shall continue in force until:

8.1.1. notice on termination is given by either party to the other; or

8.1.2. the commencement of the liquidation or bankruptcy procedures in relation to either party.

8.2.Any amendment, variation or cancellation of this Agreement shall be valid only if expressly agreed in writing by duly authorized representatives of each party.

8.3. This Agreement shall bind the legal successors of the parties.

Counterparts

This Agreement is signed in Russian and English in four counterparts, one English and one Russian counterpart for each of the parties. In the event of any conflict or inconsistency between the versions, the Russian version shall prevail.

Duly authorized for and on behalf_________________________________

Duly authorized for and on behalf_________________________________

CONTRACT 4

Para 1. Subject of the Contract

1.1.The Supplier shall cooperate with the Customer in the Construction of an Iron and Steel Works at... with a capacity of 5 million tons of steel per year. With this in view the Supplier shall prepare the De­tailed Project Report for the construction of the Works in accordance with the range of work stipulated in Appendix No. 1 to the present Contract.

Para 2. Basis for Working Out the Detailed Project Report

2.1.The Detailed Project Report shall be worked out on the basis of the
Design Assignment and the initial data presented to the Supplier by
the Customer.

2.2. The engineering and geological data with regard to the plant site shall
be supplied by the Customer to the Supplier within three months from
the date of signing the present Contract.

2.3.TheCustomer shall send any additional data required within thirty days
fromthe date of the Supplier's request.

2.4.The Customer shall be fully responsible for the correctness of all the
data handed over by the Customer to the Supplier.

Para 3. Dates

3.1.The Supplier shall submit the Detailed Project Report within 12
(twelve) months of the signing of the present Contract.

3.2.The Supplier shall inform the Customer by an airmail letter (e-mail)
about the completion of preparing the Detailed Project Report. The
date of the said letter shall be considered the date of the completion of
the Detailed Project Report under the contract.

3.3.In case of delay in handing over to the Supplier the results of the engi­neering survey and geological data the period of submitting the De­
tailed Project Report should be prolonged accordingly.