It is with great pleasure that I announce that Andreas Neocleous & Co have set up a European Law Department.

The new Department consists of eight Cypriot advocates trained in the United Kingdom, two Czech lawyers and one French, German and Hungarian lawyer from Andreas Neocleous & Co's Offices in Limassol, Nicosia, Budapest and Prague.

Elias A Neocleous, an Oxford graduate and partner in the firm, has been appointed as the Head of the European Law Department and Markus Zalewski, a German national and former Lecturer in Law at the University of Exeter, as his Deputy.

Initially the members of the European Law Department will be involved in research projects regarding the harmonisation of Cypriot Law with the European Union's acquis communautaire. We confidently expect a considerable volume of work to be generated in the areas of company law, competition law, state aids, financial services, consumer protection, intellectual property, taxation, as well as transport and telecommunication policy.

With the establishment of this new Department, Andreas Neocleous & Co is entering into a long-term commitment towards the Europeanisation of the provision of legal service in Cyprus. In the long run it is therefore the intention of this new Department to advise private and public sector clients on all business-related aspects of European Law and the major policy areas of the European Union having an impact on investment opportunities in Cyprus. In its work the Department will be able to draw on the experience gained by the competent authorities and the legal profession in other applicant countries, such as Hungary and the Czech Republic, where Andreas Neocleous & Co have established offices.

In our product development strategy we have the support and backing of a major City of London law firm specialising in European Law, and it is intended to establish a formal co-operation between the two firms in this increasingly important and pervasive area of law.

I am also pleased to announce the inauguration of our new office I Prague, which commenced operations in April 1998. The office is headed by Marek Bansky and Martin Grubner and assisted by Olga Slehoferova.

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