News

FOR IMMEDIATE RELEASE:

Ken Frost Reaches Finals of Accountant of The Year 2007

Pyongyang/London, September 24th 2007

Phoenix Commercial Ventures Ltd is proud to announce that Ken Frost MA FCA FIPFM, a director of Phoenix and member of the Institute of Chartered Accountants in England & Wales (ICAEW), has reached the finals of the awards for Accountant of The Year 2007 made by the Association of International Accountants (AIA).

The winner will be announced, and the award made, at the President's Dinner and Awards 2007 on the 21st of November 2007 at Lincoln's Inn.

This award is designed to recognise organisations' accountancy stars.

The two other finalists in the category are:

-Ken Lever Finance Director Tomkins plc

-Helen Weir Group Finance Director Lloyds TSB

The Association of International Accountants (AIA) was founded in the UK in 1928 as a professional accountancy body and from conception has promoted the concept of "international accounting" to create a global network of accountants in over 85 countries worldwide.

The AIA is recognised by the UK Government as a Recognised Qualifying Body for company auditors under the Companies Act 1989, across the European Union under the Mutual Recognition of Professional Qualifications directive and as a Prescribed Body under the Companies (Auditing and Accounting) Act 2003 in the Republic of Ireland. It is also statutorily recognised and listed accordingly in the Companies Act 1985 (as amended) for the purpose of Reporting Accountants. The AIA professional qualification is currently recognised in over 30 countries worldwide.

The AIA is constantly working with its people and partners in financial centres worldwide to encourage trust, clarity and shared international standards in the accounting profession. Many of its members are at the top of the industry, from senior management to director level, representing some of the most important and profitable firms in the world. With a select membership demographic including high numbers of these influential decision makers, the AIA is a truly prestigious organisation.

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 for; 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 Board of Phoenix Commercial Ventures Ltd would like to congratulate Ken on his nomination for this prestigious 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

AIA website www.aiaworldwide.com

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