News

FOR IMMEDIATE RELEASE:

Ken Frost Awarded Honorary Fellowship of the Institute of Professional Financial Managers (IPFM)

Pyongyang/London, November 17th 2006

Phoenix Commercial Ventures Ltd is proud to announce that Ken Frost MA FCA, a director of Phoenix and member of the Institute of Chartered Accountants in England & Wales (ICAEW), has been awarded an honorary fellowship of the Institute of Professional Financial Managers.

The Institute of Professional Financial Managers is a leading international institute that aims to promote and advance professional financial management, and sets/accredits those standards in professional financial management that define best practice.

Ken is based in London and is a chartered accountant with over 20 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 runs his own internet company.

The IPFM made this rare honorary award, for Ken's work on his blog set up to oppose the recently proposed mergers in the UK accountancy profession.

Dr Jeff Wooller, President of the IPFM, said:

"One man against the might of the Institute of Chartered Accountants of England and Wales and the one man was the winner.".

The Board of Phoenix Commercial Ventures Ltd would like to congratulate Ken on this award.
 
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

IPFM website www.ipfm.org

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