CONTENTS: JULY 2009
1. Featured Projects:
a. Major Russian Greenhouse
Development
b. European Telco Software
Producer’s Global Expansion
2. Program Highlight:
a. International Marketing
for U.S. Properties
b. Case study on international
real estate marketing
3. ACG Nominated for an Award
4. Newest Associates
a. Vibhor Gupta
b. Noah Wong
5. Recent Publications
a. ON TV – Mr. Aginsky makes a guest
appearance on TV’s “Money Matters”
b. IN PRINT - ACG luxury goods article
printed in a premier Asian Magazine
c. ONLINE - ACG Company Presentation
video is now available online
6. ACG Expansion into the BRIC
a. ACG in India
b. ACG in Brazil
7. ACG Attends Conferences Around
the Globe
a. 5th Annual Russian and CIS Private
Equity & Venture Capital Forum
in Moscow
b. 11th Annual Global Private
Equity Conference in Washington,
DCConference in Washington, DC
European Telco Software Producer’s Global Expansion
ACG has been retained by a European IT and software
development company to assist with its global
expansion efforts. The Company has developed
a revolutionary rating and promotion engine,
combined in a single, real-time, user-friendly
platform. In telecommunications  “rating”  is the
activity of determining the cost of a particular call.
The rating process involves converting call-related
data into a monetary-equivalent value. Call-related
data may be generated at various points in the
network or measurements may be taken by third
party equipment such as network probes. Generally,
this data is something quantifiable and specific.
The usage data gathered is then either packaged
by the equipment or it may be sent to a charging
gateway. Rating systems typically use some or all
of the following types of data for a call:
• Time property of the call (day of week, date,
time of day)
© Copyright: Aginsky Consulting Group, July 2009
www.aginskyconsulting.com
Aginsky Consulting Group
Quarterly Newsletter
featured projects
In this section of the ACG newsletter, we usually present a couple of notable current projects. In
this issue, we present one project in Russia and another project in Europe, both of which are with
exciting companies that are bound to have a significant impact on the world around us.
MAjor Russian Greenhouse Development
In the first quarter of 2009, Aginsky Consulting
Group (ACG) was selected from a group of leading
advisory firms for an engagement by a major
Russian vegetable greenhouse company. ACG was
retained to assist the client with an ambitious
plan to devise a growth strategy, raise a $60
million round of financing, and assist with the
launch of the largest chain of fully-automated
industrial vegetable greenhouse complexes in
the former Soviet Union. Our team undertook a
comprehensive market research study, a complete
due diligence of the company, a thorough
evaluation of the business model, a competitive
landscape analysis, and the development of a
detailed business plan. Additionally, the project
team was also responsible for converting all
Russian financials into US GAAP, creating a
dynamic, sophisticated financial model, preparing
financial projections and an enterprise valuation,
as well as drafting all offering documents for
the investor solicitation, such as a term sheet,
subscription agreement, and more. The entire
set of materials was completed in mid-April and
has proven to be an invaluable tool in the ongoing
investor solicitation. The first investor meetings
have already taken place in Moscow with a number
of the leading American, European, and Russian
• Amount of usage (duration of call, amount of
data, number of messages, number of songs)
• Destination of the call (land line, overseas,
etc.)
• Origin of call/ location of the caller (for mobile
networks)
• Premium charges (third party charges for
premium content, cost of physical items such
as movie tickets)
Generally individual calls are rated and then the
rated amounts are sent to a  billing system  to
provide a bill to the subscriber. Often the rating
system will be a module of a larger “Billing System”
architecture. A rating system must be adapted
to the constantly changing pricing policies, with
the strategic goal of stimulating demand. This
is precisely what our client’s tool is able to do
extremely well and cost-effectively, more so than
any other system currently in place. The engine’s
Private Equity funds. Other investor meetings are
currently planned in various locations around the
globe and numerous investment offers are being
entertained.
Russian vegetable production presents a unique
and largely untapped business opportunity to
capitalize on huge demand for a product that has
virtually no domestic suppliers and very impressive
margins. Most vegetables are currently being
imported from Europe, where the two biggest cost
components of greenhouse vegetables production
– labor and energy - are substantially higher than
they are in Russia. In addition, transportation
costs and customs duties add to the cost structure,
while the extra pesticides used to extend shelf
life for the long travel time only reduce the taste
parameters and quality. As a result, vegetables
produced outside of Russia have a much higher
cost and lower quality as compared to those
being produced in Russia, which gives a domestic
producer with sufficient economies of scale a
superior advantage and an opportunity to swiftly
capture a significant percentage of market share.
For a complete offering package or additional
information about this exciting opportunity, please
contact us at greenhouse@aginskyconsulting.com.
architecture is the fastest and most versatile of
its kind on the market, and it provides operators
with a fully-customizable platform for planning
and executing dynamic billing programs. In
addition, it allows subscriber-based companies
to quickly initiate complex promotional plans on
servers, regardless of size.
The Client has given our team the mandate to assist
them in strategically marketing their solution
internationally, with exclusive representation in
several markets. The goal is to present this one-
of-a-kind solution to banks, satellite television,
and telecom companies in Eastern Europe, Asia,
the Middle East, and Latin America. We have
already set up numerous demos for a number of
mid-size and large telecommunications companies
around the globe and are now nearing the final
stages of negotiations with these companies. For
more information about this company and their
product, please contact our project team at E4@
aginskyconsulting.com.
July 2009 Issue
Page 1
 program highlight
In this section of our newsletter, we usually discuss
one or two of our current programs. In this issue,
we will highlight a program launched at the end
of 2008 and some of the recent changes that it
has undergone, as well as provide a sample case
study of one recent project in this program.
Case study on
international real
estate marketing
To illustrate how our international
real estate program works in practice,
we will briefly describe the latest
addition to our real estate portfolio:
a truly one-of-a-kind holding in the
State of Georgia. The Diamond C
Ranch is a luxurious Italian-style villa
sequestered in the rolling farmland
of 1,410 acres of buildable land, one
of the largest private landholdings in
the state. The lavish villa features
colossal custom-built mahogany doors,
soaring vaulted ceilings, massive
crystal chandeliers, unique stained
glass windows, imposing pillars, and
inspiring murals. Grandeur continues
throughout the 18,000 square foot
estate with luxurious state-of-the-art
amenities. However, the Diamond C
Ranch’s principal investment benefit
lies in its sprawling territory of
land that has already been zoned
for immediate development of a
residential community with 2,400
homes, a championship golf course,
equestrian center, a spa, hotel, retail
village, and much more.
Our team has prepared a comprehensive
package, which includes a detailed 70-
page property prospectus complete with
a demographics study, financial analysis,
property valuation, and more. The
entire prospectus can be downloaded at
http://www.georgialuxuryestate.com/
Prospectus_DCR.pdf or you can visit
the property website which contains
similar information as is outlined in the
prospectus at www.georgialuxuryestate.
com. To schedule a private tour of the
property, please contact us at info@
aginskyconsulting.com.
© Copyright: Aginsky Consulting Group, July 2009
www.aginskyconsulting.com
INTERNATIONAL MARKETING FOR U.S. PROPERTIES
We are proud to showcase our International
Real Estate program, which provides
a comprehensive set of international
marketing services for owners of ultra-
high-end residential properties and large
commercial properties. Efforts are aimed
at identifying investors for these unique
properties in emerging markets, where
our firm has established over a decade
of expertise and an impressive investor
network.
In brief, the program entails a selection of
elite pieces of real estate across the United
States, which experience difficulties being
sold domestically due to the recession
and credit crunch, and assisting their
owners by marketing those properties
internationally. The domestic buyers that
have the resources are still waiting for the
market to hit bottom and are hesitant to
pursue large acquisitions, whereas those
without the readily available resources are
unable to get the necessary debt financing
for the acquisition of large real estate
assets. This market creates an opportunity
for cash-rich investors that want to do
more than just take advantage of low U.S.
real estate prices, but also have another
agenda. For example, foreign investors
are interested in the possibility of getting
permanent residency status that is made
possible with a large real estate acquisition.
Some emerging markets, such as Russia,
have recently seen huge devaluations in
their currencies, and thus it makes sense
for foreign investors to keep their capital
in dollar-denominated assets like U.S. real
estate, as opposed to their local currencies.
Many emerging markets are also suffering
from double digit inflationary pressures,
which can be alleviated by investing in low-
inflation environments like the U.S. Since
the global recession began, most emerging
markets have experienced capital flight,
and most overseas investors still consider
the United States to be a safe haven. (You
can download our firm’s recent white
paper on the current demand of overseas
investors for U.S. real estate here – http://
www.aginskyconsulting.com/downloads/
ACG%20Industry%20Summary%20Reports%20
-%20Q4-07/ACG_Foreign_Investment_into_
US_Real_Estate_05_2009.pdf.) Hence,
many of our clients have recently been
inquiring about investing in the U.S. real
estate market and we have thus created a
program to meet this growing demand.
We are looking for properties across the
U.S. to add to our portfolio that meet our
investors’ criteria and have limited, solely
domestic exposure. The properties, which
can be either sold by the owners directly or
through a broker, must be at least $10M+ for
residential and $20M+ for commercial. If the
property meets our stringent criteria and the
owners are willing to bear some of the initial
costs associated with translations, website
development, etc., our team creates a
professional document package in multiple
languages (such as English, Russian, Chinese,
Arabic, etc.) that includes a demographics
study, due diligence report, 50-100 page
prospectus with financials, professional
photography, stand-alone website, premier
advertising (at corporate rates), and much
more. These tools are then used to make
presentations to international investors
in our existing network and through
targeted advertising campaigns. Our team
is also responsible for handling all client
negotiations in the buyers’ native language.
This program has already borne fruit, as you
will see in the case study section below, and
is a win-win for all participants. The buyers
benefit for all of the reasons mentioned
above: permanent residency possibilities,
a hedge against currency devaluation to
relief from inflationary pressures, and a safe
haven for capital flight. The sellers are now
able to markedly expand the visibility and
target audience of their properties, thus
substantially improving their chances of
closing the deal in this difficult environment.
They are also able to reduce their overall
transaction fees since we do not act as a real
estate broker that charges high commissions.
Moreover, the sellers also benefit by
expediting the process. Lenders are almost
always eliminated since foreign investors
tend to be cash buyers, assuring a quick
closing. The final sales prices also tend to
be higher since international investors are
motivated by more than just a return on
their investment and have other interests
at heart. The sales prices can also be
driven higher using our effective marketing
solution because of the multiple offers that
we are often able to procure for the sellers,
thereby creating somewhat of an auction
style environment. Finally, the cache and
international exposure are tremendously
enhanced as a result of our efforts.
Aginsky Consulting Group is the only
company in the U.S. that is currently
pursuing this initiative. If you are either a
foreign investor looking for advice about the
benefits of U.S. real estate, or if you are a
property owner interested in learning more
about our program, we recommend that you
contact us at info@aginskyconsulting.com for
additional information about this program.
July 2009 Issue
Page 2
recent publications
ON TV – Mr. Aginsky makes a guest
appearance on TV’s “Money Matters”
Alexander Aginsky made a guest appearance on
the television show, “Money Matters”, filmed in
Portland, Oregon in January 2009. Mr. Aginsky, a
recognized international business expert and
entrepreneur, was invited to speak on the hour-
long show on such topics as starting a business,
growing a business, and succeeding in today’s ever-
more competitive global business environment.
Mr. Aginsky also discussed key success factors for
companies of all sizes, from local “mom and pop
shops” to international conglomerates and why
immigrants typically tend to possess these success
factors that are innate to successful business
ownership more so than natural born citizens.
The show was aired six times on three different
channels and is currently in rotation to air again
in the fall. The show was such a success that
Mr. Aginsky was invited back to make future
appearances in the upcoming year and was
even offered an opportunity to have his own
local business show. However, he had to decline
due to his significant workload and primary
responsibilities to clients of Aginsky Consulting
Group. For a DVD copy of the show, please contact
us at info@aginskyconsulting.com.
newest associates
Vibhor Gupta
Mr. Vibhor Gupta joined Aginsky Consulting Group
in February of 2009 as an Associate in the Portland,
Oregon office. Mr. Gupta is currently responsible for
managing several projects (including the European
Telco Software Producer’s Global Expansion),
conducting business development, investor
relationship management, and client communication.
He is also the liaison for the firm’s Indian partnership.
Mr. Gupta brings a broad range of experience to the
Aginsky Consulting Group team, as he has worked in
consulting and finance positions for several Fortune
500 companies and multi-national consulting firms
such as Bearing Point, DHL and Accenture. Working
as a Financial Consultant at BearingPoint, Mr. Gupta
developed proposals for potential clients, one of
which led to securing a $3 million client for the
company. As an IT consultant at Accenture, he
managed a diverse team of 30 members and worked
extensively with clients, providing technical and
secondary support.
Mr. Gupta holds a Master of Business Administration
degree from the Thunderbird School of Global
Management with a specialization in Global
Management. Mr. Gupta received his Bachelor’s
degrees from the Pennsylvania State University in
both Information Systems and International Business.
He has lived and worked throughout the United
States and in Germany and England.
© Copyright: Aginsky Consulting Group, July 2009
www.aginskyconsulting.com
IN PRINT – ACG luxury goods
article printed in a premier
Asian Magazine
An article recently written by Alexander Aginsky
about the Russian market for luxury goods
was featured in the May/June 2009 edition of
Duthuyen Yacht magazine, a premier, large-
format glossy magazine targeted at affluent
Asian readers. The bilingual 4-page feature,
titled “Russian High-End Market Outlook,”
discussed the demographics of a typical high
net-worth Russian consumer, their preferences,
and purchasing behavior. The article also
featured a synopsis of the top ten luxury goods
market segments in Russia. Other articles in
the magazine cover topics that range from
attending prestigious yacht shows to how to
buy Cartier watches. The original white paper
prepared by our firm, on which this latest article
was based can be downloaded for your review
here - http://www.aginskyconsulting.com/
downloads/ACG%20Industry%20Summary%20
Reports%20-%20Q4-07/ACG%20Russian%20
luxury%20goods%20market%20overview.pdf.
Noah Wong
Mr. Noah Wong also joined Aginsky Consulting Group in
February of 2009 in the company’s Portland office. Mr.
Wong is currently the Program Manager for the firm’s real
estate program (see above) where his responsibilities
include project management, business development,
market research, and client negotiations.
Mr. Wong has over four years of experience living and
working in Shanghai, China, where he has developed
an in-depth understanding of the business and
cultural acumen of the region. Mr. Wong’s career
includes managerial roles in the high technology and
hospitality industries; ranging from Wicresoft, China’s
leading IT and business process service provider, to
Motorola, Networks and Infrastructure division. He
is an enthusiastic collaborator, with experience in
building bridges across the technical and business
communities to foster strategy, innovation and
product development. He has also served as the
Marketing Manager for one of Shanghai’s premier
Western restaurants; managing all marketing
communications and business development.
Mr. Wong holds an MBA from the Thunderbird School
of Global Management and received his Bachelor’s
degree in International Studies with a concentration
in business. Through his broad range of experiences,
he has developed a fluency in cross-cultural business
management and communication. Noah speaks fluent
English and Mandarin Chinese.
ONLINE – ACG Company Presentation
video is now available online
The long awaited company presentation
developed by our HR team for prospective
hires and delivered by Mr. Aginsky was finally
recorded in a local studio in the first quarter
of 2009. It can now be viewed by candidates
online here - http://www.aginskyconsulting.
com/en.php/company-presentation.html. The
video presentation is based on the PowerPoint
presentation, which is downloadable from the
front page of the ACG website here – http://
www.aginskyconsulting.com/downloads/ACG-
Company_Presentation_(eng).pdf.
The presentation provides a basic
understanding of our firm’s activities, our
business model, value proposition, and
compensation structure. It takes the viewer
on a two-hour tour of the company, sample
engagements, and case studies, and offers
an inside glimpse into the inner-workings of
Aginsky Consulting Group. It also provides
the prospective hires with a detailed outline
of their responsibilities and explains the
hiring process and our stringent guidelines. If
you have trouble viewing the video, please
contact us at info@aginskyconsulting.com.
ACG nominated for an award
We are proud to announce that in May
2009 Aginsky Consulting Group has been
recognized for its ongoing successful
activities in international business and was
nominated for the Mayor’s International
Award in Portland, Oregon, as Service-based
Exporter of the Year. In the last several
years, exports constituted nearly 100% of
our firm’s sales, leading to double-digit
rates of revenue growth year after year.
ACG was nominated for its commitment to
ethical global development and progressive
corporate policy, teamwork, and continuing
education. We are focused solely on
international business and believe that it
is the only long-term path to peace and
prosperity around the globe. Our corporate
philosophy coincides with Mr. William
Schurz, who said, that “borders frequented
by trade seldom need soldiers”.
July 2009 Issue
Page 3
ACG expansion into the BRIC
Our firm has long held a belief, that in order to be truly a global partner to our clients, we must ourselves also become more geographically diversified. Hence
in the last year we have made an effort to establish a presence in the other BRIC markets, particularly in India, China, and Brazil. We now have either our own
staff or solid local partners in each of the four BRIC markets, and in this part of the newsletter we will highlight two of these recent international developments.

ACG in India
In the last quarter of 2008, our firm established a strategic
partnership agreement with Verge Consulting (www.vergeconsulting.
org). This India-based company provides business advisory, turnaround
management, business consulting and performance management
solutions primarily for Indian clients. This partnership will allow
Verge Consulting clients to pursue opportunities internationally, while
helping the ACG client base to expand into India. Vibhor Gupta, who
is the partnership liaison, is currently in negotiations with Verge on
several new business development and capital fundraising projects
in India in industries such as tea production, IT, real estate, and
medical tourism. If your company has any interest in doing business
in the growing Indian market please contact Mr. Gupta at v.gupta@
aginskyconsulting.com.

ACG in Brazil
In the last quarter of 2008, we also added staff on the ground in the
bustling city of São Paulo, Brazil, led by Mr. Fabiano Grottoli (regional
director for ACG Latin America).  Mr. Grottoli’s extended work
experience includes 16 years in marketing, communications, product
management, business development and sales in financial services,
pharmaceutical, and consumer companies. He has worked for many
Fortune 500 companies, including American Express and Bristol-Myers
Squibb, as well as Bradesco, the second largest public bank in Brazil.
He is also currently a part-time professor in International Business,
International Marketing, and Strategic Planning at the prestigious
University Anhembi Morumbi in São Paulo, Brazil. Mr. Grottoli
graduated with an MBA from Thunderbird School of Management and
speaks fluent Portuguese, English, and Spanish.
Currently, Mr. Grottoli is conducting negotiations with several potential
clients in Brazil in such sectors as plastics, IT, medical tourism, and
biotechnology. If your company has an interest in doing business in
the thriving Brazilian market please contact Mr. Grottoli at f.grottoli@
aginskyconsulting.com.

ACG attends conferences around the globe

Aginsky Consulting Group regularly attends various conferences and seminars around the globe to promote our clients’ projects, to continue our
team’s education, and to build our already broad network of industry professionals and investors. In the second quarter of 2009 members of our
team attended two conferences – one in Moscow, Russia and the other in Washington, DC. A brief summary of each conference is provided below.

5th Annual Russian and CIS Private Equity & Venture Capital Forum in Moscow
The 5th Annual Forum on Russian and CIS Private Equity and Venture
Capital took place in Moscow’s Marriott Grand Hotel on the 23rd and
24th of April, 2009. All of the largest global private equity funds, family
trusts, corporate and individual investors which have an active interest
in Russia were in attendance. This forum is considered to be the most
comprehensive such event in Russia and allows leading investors, advisors,
and industry experts to exchange opinions, share experiences, and learn
from each other. Presentations were given by some of Russia’s largest
funds on such topics as the latest developments in Russia’s Private Equity
and Venture Capital industry, best capital raising strategies, and future
outlook. The general consensus among the presenters was that Russia’s
future is bright and that a rapid rebound is inevitable as early as 2010.
Members of the ACG team attended all of the presentations and took the
opportunity to rekindle many existing relationships and develop new ones.

11th Annual Global Private Equity Conference in Washington, DC

Two members of the ACG team, Alexander Aginsky and Brinton Reed,
attended the 11th Annual Global Private Equity Conference in Washington
D.C. on the 13th and 14th of May, 2009, which took place at the Ritz-
Carlton Hotel in the heart of the city. The event was hosted by the
International Finance Corporation, a division of the World Bank and
the Emerging Markets Private Equity Association. This annual event
is the largest and most comprehensive gathering across the globe of
practitioners active in emerging markets private equity. The main theme
of this year’s event was “Managing Risk and Finding Opportunities amid
Uncertain Times”. In-depth panel and break-out sessions examined
emerging markets investing opportunities in an increasingly competitive
and volatile global environment, identifying which markets present the
best opportunities and clarifying how investors can effectively navigate
in a tumultuous economic landscape. Some of the largest international
private equity players and leading industry experts were in attendance.
The overall mood in the group was energetic and optimistic about the
future of the PE industry and the overall global economy. Our team’s
attendance provided us with a unique opportunity to meet with
representatives from hundreds of Private Equity funds and other industry
leaders. Not only were we able to strengthen and expand our existing
network of global investors by participating in the conference, but we
uncovered new business opportunities that will be discussed in our next
newsletter in more detail.

© Copyright: Aginsky Consulting Group, July 2009 July 2009 Issue

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