News

FOR IMMEDIATE RELEASE:

Phoenix Commercial Ventures Director Ranked in The Financial Power List 2006

Pyongyang/London, January 12th 2006

Phoenix Commercial Ventures Ltd is proud to announce that Ken Frost, a director of Phoenix and member of the Institute of Chartered Accountants in England & Wales (ICAEW), has been ranked within the Financial Power List 2006.

The Financial Power List 2006 has been compiled by the British magazine "Accountancy Age", and lists the top 50 "most influential names to look out for" in the world of finance for 2006.

Ken has been placed 11th out of 50, and ranks with such names as

Dave Hartnett - Her Majesty's Revenue and Customs Director (1st)
Mervyn King - Governor of The Bank of England (2nd)
Gordon Brown - British Chancellor of the Exchequer (6th)
Eric Anstee - CEO of the ICAEW (joint 11th)
Sir Christopher Hogg - Chairman of the Financial Reporting Council (17th)
Bob Herz - Chairman of the US Financial Accounting Standards Board (27th)


Quote:

"Frost, whose idiosyncratic blogs lit up 2005 when pooh-poohing ICAEW strategy, is expected to carry on with added zeal in 2006".

Ken is based in London and is a chartered accountant with over twenty years international experience of FMCG industries, consumer electronics, rough diamond distribution and the internet.

He has worked in; KPMG, Philips Electronics, De Beers and in addition to being on the board of Phoenix and Hana Electronics JVC he also runs his own internet company.

The Board of Phoenix Commercial Ventures Ltd would like to congratulate Ken on this notable achievement.
 
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 People's 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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