U.S.-Russia Roundtable Highlights Efforts to Strengthen Corporate Governance and Cross-Border Investment

NEW YORK, May 21 /PRNewswire-USNewswire/ -- Prominent Russian and U.S. policy experts and business leaders will meet at the New York Stock Exchange today for a U.S.-Russia Roundtable on Corporate Governance and Cross-Border Investment. This meeting is co-hosted by the New York Stock Exchange and Russia's National Council on Corporate Governance.

The goal of the U.S.-Russia Roundtable is to promote dialogue on what good governance means in practice and to understand the outlook for change. This issue has become increasingly important around the world and particularly in Russia given the country's emergence as a major player in the global economy. The Russian economy in 2007 is projected to grow at a rate of close to 7 percent for the fifth consecutive year, and the Russian stock market has risen seven-fold in the past five years. Russian companies are also increasingly doing business internationally, and some have emerged as global leaders in their industries.

The Russian delegation at the Roundtable is led by Deputy Prime Minister Alexander Zhukov and includes, among others, Sergey Vasiliev, Chairman of the Federation Council of Russia's Committee on Financial Markets; Alexander Potemkin, President of the MICEX Stock Exchange; and Vladimir Potanin, Chairman of Russia's National Council on Corporate Governance and President of Interros, Russia's largest private investment company. U.S. participants include William Donaldson, 27th Chairman of the U.S. Securities and Exchange Commission; former Congressman Michael Oxley; former Senator Paul Sarbanes; and Rep. Barney Frank, Chairman of the U.S. House Financial Services Committee.

Vladimir Potanin commented: "Russian companies taking the lead in strengthening corporate governance are having a profound effect on the country's business culture. There is an increasing understanding that capital markets reward enterprises not only for their profitability, but also for their transparency, and that good governance improves management decision- making and promotes the internal discipline for enhancing performance. This realization is changing the strategic thinking of many Russian companies seeking to expand their businesses and create value for their shareholders."

William Donaldson, who will serve as moderator for today's event, added: "Country leaders and regulators have an important role to play in creating a fair and open system for business. The foundation for building trust in today's global markets is a shared set of principles based on good governance, transparency and investor protection."

Many of the U.S.-Russia Roundtable's participants have also contributed to the Council's special publication, Changing Mindsets: Corporate Governance and the Future of Investment between Russia and the United States, which is intended to coincide with this event. Copies are available upon request.

Russia's National Council on Corporate Governance (NCCG) conducts research projects, participates in the legislative process and organizes conferences, roundtable sessions, seminars and information exchange meetings with NCCG members and corporate governance experts. These activities help the Russian business community and government representatives to promote the betterment of corporate governance in Russia. NCCG issues a quarterly bulletin, Corporate Governance in Russia. For more information, please visit http://www.nccg.ru/.