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News


FOR IMMEDIATE RELEASE:

Phoenix Commercial Ventures Ltd Publishes Code of Conduct

Pyongyang/London, October 25th 2005


Phoenix Commercial Ventures Ltd is proud to announce that it has today formally published a Code of Conduct covering ethical behaviour.

Phoenix Commercial Ventures Ltd is committed to being a responsible corporate citizen and to the pursuit of a sustainable future, both economic and social.

Phoenix Commercial Ventures Ltd adheres to three fundamental ethical principles:

- Integrity

- Competence

- Courtesy

To this end Phoenix Commercial Ventures Ltd (herein after referred to as "Phoenix") has developed a Code of Conduct, which sets out to ensure that these principles are followed in its operations.

The Code of Conduct governs Phoenix's business decisions and actions. The Code applies equally to corporate actions, and to the behaviour of individual employees when conducting business on behalf of Phoenix.

Phoenix intends to be a leader, not a follower, in respect of ethical behaviour.

The full text of the Code of Conduct can be found on the Phoenix corporate website, located at www.pcvltd.com
 
For additional information, contact Phoenix Commercial Ventures Ltd.

About Phoenix Commercial Ventures Ltd

Phoenix Commercial Ventures Ltd offers investors business and investment opportunities in the Democratic People's Republic of Korea (DPRK), enabling them to take advantage of the economic reforms that are taking place there.

Phoenix Commercial Ventures Ltd maintains an office in Pyongyang, almost the only European company to do so, and operates with the following specific aims:

● Identify commercially viable investment projects in the DPRK, on a case by case basis

● Identify reliable local partners for all forms of business in the DPRK, either trade or investment

● Seek overseas investment sources for such projects

● Minimise the risk in such projects, by taking responsibility for supervision of the local set-up procedures and management of the projects

CONTACT INFORMATION:

Phoenix Commercial Ventures Ltd office address in Pyongyang is:

Phoenix Commercial Ventures Limited No. 901,
International House of Culture
Ryonhwa-dong
Central District
Pyongyang
Democratic Peoples Republic of Korea

Phone

Switchboard  +850 2 381 2228/9 ext 401
Direct line     +850 2 381 4866
Mobile          +850 193 801 8400*
*Note, the mobile number may not be obtainable from certain countries (eg UK and Hong Kong).

London Contact

Direct line     +44 208 681 1413

Corporate Website www.pcvltd.com

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Please feel free to contact us, via our contact form.



   ? Phoenix Commercial Ventures Ltd 2005