IPORUSSIA, INC. Announces Agreement With Sun City CJSC -- A Management Company for Development of Disney World Type Theme Park in Southern Russia

IPORUSSIA, INC. (OTC BB: IPOR), a provider of business advisory services to private companies located in the Russian Federation, announced today it has been retained by SUN CITY CJSC, of Krasnodar, Russia, a management company for development and operations of a Disney World Type theme park in Krasnodar Krai (a federal region of Russia).

SUN CITY CJSC, a Russian management company in partnership with the Krasnodar regional government, will oversee development and operations of a Disney World Type theme park. The park will be located in Russia's only sub-tropical zone on the Black Sea. The overall cost of the theme park is estimated at $3.5 billion USD. IPORUSSIA holds a 5% equity interest in SUN CITY CJSC, which is a Russian registered Closed Joint Stock Company.

Eugene V. Postnov, General Director of SUN CITY CJSC, stated, "The Krasnodar Krai Administration has been considering theme park construction projects for a number of years, but until recently no entity had submitted a viable roadmap. With IPORUSSIA we have created a plan that leads to successful implementation of the project."

Vladimir F. Kuznetsov, President & CEO of IPORUSSIA, INC., stated, "Participation in such an important theme park project is a milestone for IPORUSSIA's business development." Mr. Kuznetsov further stated, "The Russian entertainment industry is one of the most dynamic sectors of Russia's economy. In addition, the Krasnodar Krai project allows us to bring another high quality investment opportunity to the global financial markets."

About IPORUSSIA, INC.

IPORUSSIA, INC. offers business advisory services to private companies located in the Russian Federation that are interested in raising capital, usually by taking their companies public in the United States, as a means of obtaining capital for their companies and liquidity for their principals and other stockholders. IPORUSSIA's wholly owned subsidiary, IPOR Capital, LLC, is admitted as a member of the NASD and may, as a finder and/or consultant, solicit other broker dealers to manage or co-manage IPOs for Russian and other foreign companies. In addition, IPOR Capital may participate in private placements of securities to institutional and accredited investors.

This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. These factors include, among other things, United States and global economic conditions, the acceptance in foreign markets of securities of companies primarily based in Russia, the Company's ability to attract clients who complete transactions, potential competition from investment banking firms, the Company's ability to attract, compensate and retain personnel with investment banking experience, the effects of compliance with governmental and NASD rules, the effects of the Sarbanes-Oxley Act of 2002 on the Company and prospective clients, the Company's ability to generate additional financing that may be required, the Company's dependence on its chief executive officer and the Company's limited operating history.

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Tel. (516) 937-6600
Fax. (516) 681-3900
e-mail: suroff@iporussia.com

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