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4 Jun 2007

Hedge Fund Platform Wins Laureate Award

Hedge fund platform, Logical Information Machines Inc.(LIM) has been recognized as a Laureate by the Computerworld Honors Program for Case Study Historis. This year's Honorees will be commemorated this evening at the 19th Annual Laureates Medal Ceremony & Gala Awards 2007 at the Andrew W. Mellon Auditorium in Washington, D.C.

Computerworld Honors acknowledges individuals and organizations that have used information technology to benefit society. Each year, members of the Chairmen's Committee, a group of 100 Chairmen/CEOs of global technology companies, nominates individuals and organizations around the world whose visionary applications of information technology promote positive social and economic progress.

"We are honored to accept the Laureate Award from the respected publication Computerworld for the Case Study Historis," said Tony Kolton, LIM President and CEO. "We are glad to be recognized amongst all others whose visionary applications of information technology promote positive social and economic progress."

LIM's clients are among the world's largest hedge funds, mutual funds, banks and energy concerns. The firm was named 'Data Management Provider of the Year' by Energy Risk Magazine and was recently awarded "Best of the Web" by Forbes magazine for stock market research. Founded in 1988, LIM is headquartered in Chicago with offices in Austin, New York, London and Singapore.

The LIM Historis Server was chosen for its innovative application. Historis, unlike relational databases that utilize tables, stores data as defined series upon which advanced proprietary compression algorithms are used.

"Each Laureate selected for this honor understands the importance of using one's resources and technical prowess to benefit one's fellow man," said Bob Carrigan, Chairman of the Computerworld Honors Program Chairmen's Committee and President, IDG Communications.

Tycoon Launches Private Russian Fund

Russia’s tycoon Mikhail Prokhorov announced the creation of a new private investment fund based on his assets, the ONEXIM Group. The worth of new undertaking exceeds $17 billion, and a stake of 22-percent in GMK Norilsk Nickel is its major asset.

Dmitry Razumov, who had been Prokhorov’s deputy for strategy and M&A in Norilsk Nickel till 2005 will be ONEXIM Group’s General Director and Potanin's partner. Together they plan on reaching $30-billion capitalization in five years.

ONEXIM Group was named after a bank, the starting point for Potanin and Prokhorov in early 1990. "Despite the attempts to declare ONEXIM bankrupt, it met all commitments to creditors," Prokhorov clarified implication of the new undertaking’s name.

ONEXIM’s emergence actually completes the split of Interros assets between Mikhail Prokhorov and Vladimir Potanin. The partners, however, no longer say that Potanin will buy out Prokhorov’s stake in Norilsk Nickel, although exactly this deal has been viewed the milestone in the friendly division of assets.

"We stake on the projects, where Russia has objective competitive advantage. Our experience, analysis of the market and of development trends of Russia’s and world economies convince us that innovation and high-tech projects are the most promising," Prokhorov said when presenting Onexim Group.