"Cuba Business Update"

WESTPORT, CONNECTICUT, 5 June 2002: The government of Cuba has provided final approval for PWN Exhibicon International LLC (PWN Exhibicon) to schedule the first United States government authorized U.S. Food & Agribusiness Exhibition in Havana, Cuba, in 2002.

Products which may be featured at the U.S. Food & Agribusiness Exhibition include, but are not limited to: commodities; food (snack, food service, etc.); feed; fish, shellfish and fish products; beer, wine and spirits; soft drinks; livestock; fiber, including cotton, wool and other fibers; tobacco and tobacco products; wood and wood products, including lumber and utility poles; seeds; reproductive materials such as fertilized eggs, embryos, and semen; vitamins, minerals, food additives and dietary supplements; bottled water; and some fertilizers.

In 2001, PWN Exhibicon became the first and only U.S. company to be issued a license by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury to conduct a U.S. Food & Agribusiness Exhibition in Havana.  In 2000, PWN Exhibicon became the first and only U.S.-based company to be issued a license by the OFAC to explore and make arrangements for a U.S. Food & Agribusiness Exhibition in Havana.  PWN Exhibicon first sought a license from the OFAC in 1999. 

Mr. Pedro Alvarez Borrego, President of Empresa Cubana Importadora Aliementos (Alimport), under the auspice of the Ministry of Foreign Trade of Cuba, wrote, "We are confident that this idea will contribute to increased trade between our two countries…  companies, farmers, transport representatives… may be confident that [the U.S. Food & Agribusiness Exhibition] will facilitate further sales of U.S. food and agricultural products to Cuba and a mutual knowledge of both markets." 

Alimport is the primary purchaser of food products and agricultural products for use by the 11.2 million citizens of Cuba, tourism sector, and U.S. Dollar retail stores.  Alimport has been designated by the government of Cuba as the exclusive importer for food products and agricultural products sourced directly from the United States. 

Approximately 150 U.S. companies; national, state, and local agricultural agencies; organizations; and cooperatives have already confirmed their interest in participating in and/or sponsoring the five-day U.S. Food & Agribusiness Exhibition.  Archer Daniels Midland Company (Illinois) is confirmed as a sponsor of the U.S. Food & Agribusiness Exhibition.  Riceland Foods (Arkansas), Radlo Foods (Massachusetts), Gold Kist (Georgia), and Perdue Farms (Maryland) are among many of the companies planning to exhibit.     

Mr. Peter W. Nathan, President of PWN Exhibicon said, "There is no more cost-effective way to introduce products to a new market than through participation at an exhibition.  Now that U.S. companies have had twelve months to learn the mechanics of exporting their products to Alimport through the assistance of the OFAC and the Bureau of Industry and Security (formerly Bureau of Export Administration) of the U.S. Department of Commerce, companies will have the advantage of a specifically authorized U.S. government opportunity to showcase their company and products, provide samples, and have their representatives meet with purchasers and end-users.  I look forward to working with Alimport to provide value to each of the exhibitors."  The final day of the U.S. Food & Agribusiness Exhibition will be open to the general public.  

In January 2000, PWN Exhibicon conducted, under license from OFAC, the first U.S. Healthcare Exhibition in Havana, which included 305 representatives of 97 U.S. companies exhibiting medical equipment, medicines, pharmaceuticals and healthcare products to more than 8,000 Cuban healthcare professionals including physicians, nurses, laboratory technicians, hospital and clinic administrators and officials from the Ministry of Public Health (MINSAP) and their importing agency, MediCuba.  Mr. Nathan was also instrumental in organizing the first U.S. trade exhibitions in the former Soviet Union in the early 1970's and in China in 1980.

 " Current Legislation Permits"  ( click for details) 

" The land may no longer be free but the opportunities are nearly as unlimited for international investors and developers! "

In 1994, and reconfirmed in 1999, OFAC (The Office of Foreign Assets Control of the United States Department of the Treasury in Washington, D.C.) issued an opinion which stated that a U.S. company or individual may make a secondary market investment in a "third-country company" that has commercial dealings with the Republic of Cuba as long as this investment in the "third-country company" is not a controlling interest.

It is not easy conducting business with the Republic of Cuba! But, it is possible and has proven to be very profitable for foreign investors. In fact, I have not heard of one instance of Cuba defrauding or misrepresenting a foreign investor or developer. As compared to many other foreign countries, bribes, forced patronization and deceit are not involved in business dealings in Cuba. Although I have been involved with the tourism business sector for nine years, I have introduced many others to real estate, hotel development and infrastructure opportunities with excellent results.

Last Frontier Expedition's excellent reputation and contacts in Cuba will allow the interested party to gain many inroads over other competitors seeking the same business opportunity.

Recent Legislation passed in both the US House and US Senate now make it legal for US companies to pursue opportunities for the sale of agriculture and medical products to the Republic of Cuba. And, it is legal for any US based company to travel to Cuba for the intent of arranging letters of intent, research copyright and trademark protects or to seek sales agreements for future transactions.

Last Frontier Expeditions is represented in the Republic of Cuba by the Cuban investment firm of Coral Capital, ING-Barings Bank (Netherlands) and Banco Commercial and Credito (Cuba).