Russian Market Matures Further

NEW YORK, Dec. 6 /PRNewswire-FirstCall/ -- John T. Connor, Jr., Portfolio Manager of the Third Millennium Russia Fund (OTCBulletinBoard: TMRFX) , named No. 1 Portfolio Manager in the 2006 U.S. Annual Barron's rankings, shared his observation of the elections just held in Russia for the national legislature, the State Duma. Mr. Connor noted "Russia continues along the road of a maturing free market democracy, with a high voter turnout and four political parties to be represented in the next Duma."

TMRFX, up about 22% year-to-date, is invested in equities reflecting the domestic boom economy in Russia. He stated further: "The substantial increase for the next Duma for President Putin's United Russia party, from about 37% in the present Duma, to about 63%, reflects the high level of confidence Russians have in the policies of his administration. This has brought prosperity to ever increasing numbers of the Russian people. The political stability, which this vote of confidence reflects, will be a strong advantage for investors going forward."

Mr. Connor acknowledged that during the Russian election there was intense negativity of many foreigners towards these positive developments in the Russian Federation. "The OSCE, in its report on the 2003 elections in Russia, greatly credited the Elections Commission for the very professional results of over a million officials and volunteers in administering the vote for such a large country." In this years election, Mr. Connor concluded that, "they gave Russia an overall flunking grade due to the incumbents purported unfair media access. This year, I saw the leaders of each of the four major parties on TV repeatedly, but the minority parties, most of which got one percent or less of the vote, were not given access."

About Third Millennium Russia Fund

Third Millennium Russia Fund (OTCBulletinBoard: TMRFX) is an open-ended mutual fund focusing on the oil sector, utilities, telecom and a broad selection of other audited, market leading public companies. John Connor, named No. 1 US Portfolio Manager in the Annual Barron's ranking, has been involved in Russia for more than 25 years running an insurance company in Russia, acting as deputy director of the U.S. Commerce Department's Bureau of East-West Trade, and establishing and heading the Moscow office of the US-USSR Trade and Economic Council. Third Millennium Russia Fund is available through TDAmeritrade and Charles Schwab & Company. For more information on Third Millennium Russia Fund, visit their Web site at: www.tmrussia.com, or call 1- 800-527-9525.

Contacts: Ivette Almeida, Global Consulting Group, Tel: +1-917-302-9946