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             SELF FINANCING - JOINT VENTURE - PROGRAM
             ----------------------------------------

The following steps, procedures and chart shall be referred to in 
order to finance and SELF LIQUIDATE your entire project.

Step  1.  The Operator/Owner (OO/P) of the  project,  the  funder 
          (F/P),  the  builder and all other parties will form  a 
          Joint  Venture  should  agree on the entire  amount  of 
          funds required for the full development of the project. 
          Along  with  the funding requirement the  group  should 
          determine a reasonable schedule.  This schedule  should 
          include a reasonable lead-in time (30 days recommended) 
          as well as a completion phase-out time.

Step 2.   The OO/P needs to gather together 40% (forty percent of 
          the  total  determined cost.  These funds need   to  be 
          gathered  and placed 30 days (lead-in time)  prior   to 
          the  beginning  of the schedule that is  determined  in  
          Step  1.  If the 40% block of funds is $3,000,000.00 or  
          more   then   the  OO/P  can  follow  either   of   two  
          procedures:

          a)   The OO/P purchases a 10 year CD at a  rated  bank, 
               and has that bank write a Standby Letter of Credit 
               to  the  F/P.  This SLC shall NEVER be  called  or 
               cashed  (which shall be stipulated as such in  the 
               funding contract); or

          b)   The OO/P places the funds in the nominated  Escrow 
               account of the F/P and proceeds with the following 
               procedures.

               This principal amount shall remain on deposit with 
               the  F/P  until  such  time  that  the  F/P  deems 
               necessary  or the cost of the Project is  paid  in 
               full where in either case the funds or SLC will be 
               returned immediately to the provider of same.

Step  3.  The  funds or  SLC are  transferred to  the  designated 
          escrow  account of the F/P.  These funds will remain in 
          this  account  until such time as a BANK INSTRUMENT  OF 
          GUARANTEE or security is placed in the same account  in 
          order to protect the principal deposit.  Upon placement 
          of  the Guarantee in that account,  the funds  will  be 
          transferred  to  the account of the  F/P.  A  Guarantee 
          Instrument shall remain in place for the full time that 
          the funds are in the F/P's control.

Step  4.  The F/P will begin transmitting funds to the OO/P at  a 
          rate  of 20% (twenty percent) of the projected cost per 
          month for a period of five months (this schedule can be 
          varied).  The  group should take note of this  pay  out 
          schedule  and  make the appropriate  payment  schedules 
          with suppliers and contractors.

Step 5.   Beginning 30 days (thirty days) from the opening of the 
          facility payments shall commence at the following rate: 
          Each month .00834 times the total cost shall be paid to 
          the F/P.  This relates to 100% (one hundred percent) of 
          the  cost  paid back over 120 months of  payments.  The 
          total cost is paid back to the F/P INTEREST FREE.

If at the point that the sixtieth payment being made there are NO 
MISSED  payments or problems with the first sixty  payments,  the 
40%  shall  be  returned to the provider and the  OO/P  shall  be 
forgiven the remaining sixty (60) payments.  If the payments have 
NOT  BEEN  made in a timely and easy fashion the  payments  shall 
continue  and  at the time of the last payment the  original  40% 
provided  up  front  shall be returned to the  provider  and  the 
original project cost shall be satisfied.

Either  of  these procedures will reduce the overall cost of  the 
Project and the expense of amortization.

Please  refer  to  the attached Schedule "A" for details  of  the 
savings.

If this procedure meets with your needs please contact us.

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                          Schedule "A"
                         --------------


                       COMPARISON PROCESS 			
=================================================================
                                      NEW             CONV 
=================================================================
Original Cost of Project     |       $3,000.000 |      $3,000,000 
-----------------------------+------------------+----------------
Amount of Down Payment       | 40%   $1,200,000 | 10%    $300,000 
-----------------------------+------------------+----------------
Conventional Interest Rate   |            0.00% |           9.50% 
-----------------------------+------------------+----------------
Payment for Project          | 120      $25,000 | 240     $25,168 
-----------------------------+------------------+----------------
Closing Cost & Points        |          $50,000 | 7%     $210,000 
                             |       (OPTIONAL) |
-----------------------------+------------------+----------------
Other ADD-ON Fees            | 0%            $0 | 0%           $0 
=================================================================


=================================================================
Savings in Payments (monthly)|             $168 |
-----------------------------+------------------+----------------
Savings in Payments (Yearly) |           $2,011 |
-----------------------------+------------------+----------------
Savings In Payments (Project Life)   $3,040,210 |
(THIS APPLIES TO INTEREST ONLY) 	 	|
-----------------------------+------------------+----------------
Cash back at end             |       $1,200,000 |              $0 
-----------------------------+------------------+----------------
Total Financing Cost         |       $3,050,000 |      $6,250,210 
-----------------------------+------------------+----------------
(With timely smooth payments)|       $1,550,000 |
-----------------------------+------------------+----------------
TOTAL PROJECT SAVINGS        |       $3,200,210 |
=================================================================

-- 
Nevolko Igor          Commercial director.
LUIZA firm              MOSCOW,RUSSIA
     Phone/fax- (7)-(095)-182-21-74               
e-mail <luiza@online.ru> Home page http://www.online.ru/people/luiza