CLIFTON S. HARRISON
International Entrepreneurial Executive
Privatization Expert

Moscow, Russia
77 Sadovnicheskaya embankment, Building 1
Avrora Business Park, Colliers, 115035 Moscow, Russia
Phone: + 7495-768-2551

Jordon, Amman, Jordan
Bala'ayi Building, Second Floor
Al Shahed Street, Sports City
Tel: + 962 6 5152096 | Fax: + 962 6 5152096

Mob.: +962 79 500 8765
Email: clifton_s_harrison@yahoo.com
www.cliftonharrison.com
Phone-USA: +1 469 951 4681

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Summary: Truly a privatization specialist. Experience: 11 years Russia;3 years Serbia; 2 years Iraq. Participated in buying stateenterprises valued over $1 billion US. Started up TV network inRussia, present value in excess of $500 million US. In Iraq, advisingseveral of the largest Iraq commercial groups on investment strategyregarding buying state owned enterprises and oil and gas investment opportunities. Consultant regarding oil and gas investmentstrategy for a major international oil company. Negotiating a Memorandum of Understanding with Iraq Authorities pertaining to an oil field development program.

IRAQ
June 2003 to Present

Since June 2003 to present, traveled extensively throughout Iraq. During that time established local business related contacts plus governmental contacts, those resulting in strong local partner relations. With local partners and Salford have bid and tendered on several state owned enterprises (SOE) to be privatized. Equity requirement: $40 million. Oil and gas investment, funds committed: $500 million.

As a highly motivated privatization specialist with extensive understanding of privatization dynamics, have worked closely with several Ministries and officials of the Iraqi Government, especially with Ministry of Finance on privatization issues regarding several companies, the Ministry of Oil and Gas and Ministry of Industry and Mining.

SALFORD Representative Office Belgrade, Serbia
October 2001 to 2003

General Manager
Prepared market condition analysis through extensive research of competitive activity, and regulatory, legal, and political considerations.

Developed feasibility study and business plan for investing in Serbia.

Worked extensively on researching opportunities for purchasing of various companies, mostly in the business of food and beverage, resulting in purchasing of several major Balkans and Eastern Europe market established brands of milk, juice, water, confectionery and beer producing companies.

Total investments made to date exceed $500 Million.

HFA MOSCOW LTD (Investment Advisors for Russia), Moscow, Russia
January 1991 to October 2001

General Director
Main Activities:

Academy of National Economy of the Russian Federation
Zenith Center - 1,390,000 SF office and retail center in Moscow:
Done negotiations of new terms and conditions for existing loan and additional financing of $220,000,000 through the lender Italian Import-Export, SACE with the original debt in the Paris Club. Coordinated all development activities including redesign of the property and conducting an open tender.

Strother Investment Company Inc., (SIC) New York
Reported on market conditions, competitive activity, and regulatory, legal, and political considerations regarding purchasing Joint Stock Company "MTVA": TV Channel 27, Moscow. Developed feasibility study and business plan for MTVA. Negotiated contracts and closed the purchase of MTVA on behalf of SIC. Negotiated the sale and closing of a 75% interest in "MTVA" to StoryFirst Communications, Inc. on behalf of SIC. Today, Channel 27 is the ‘core channel’ in a national TV network, CTC. Value: $700 million US.

Story First Communications Inc., London and Moscow
Market condition analysis, competitive activity, and regulatory, legal, and political considerations. Researched opportunities to purchase TV properties - Channel 31 and 51. Developed feasibility study and business plan for Alpha TV (TV holding company)

Tiller International Limited, London
Located, interviewed and recommended potential local consortium partners. Conducted due diligence and research on consortium partners. Privatized a Russian telecommunications company. Developed political and economic study for participating in 'loan for shares' program relating to Yukos Oil. Compiled and organized extensive market research including feasibility studies, consumer statistics, and strategy for the redevelopment of Hotel Arbat, Moscow and other real estate properties. Provided research, due diligence and a feasibility study for the following: 3rd Generation telecommunication licenses application, Russian Internet market analysis from a political perspective. Purchase of a controlling interest in a US telecommunications.

Robin Inc., New York and Moscow
Established Moscow office. Developed feasibility study and business and development plan for 53 Leningrasky Prospect, Moscow. Negotiated a JV agreement between Robin and Financial Academy for the development 53 Leningrasky Prospect.

Sandcastles Inc., Atlanta
Conducted due diligence and research on existing hotel properties for conversion into a Holiday Inn. Developed feasibility study and business plan for a Holiday Inn Hotel in Moscow. Negotiated a JV agreement between Sandcastles and Moscow Mayors Office regarding Peking Hotel. Negotiated a JV between Sandcastles, Fleming Bank and Holiday Inn International for the financing of the Peking Hotel.


HARRISON FREEDMAN ASSOCIATES,INC., Dallas and New York
1972-1991

President

Main Activities:
Formed Harrison Freedman Associates, Inc. in 1972 that specialized in the purchase, development and management of income-producing properties.

In 1973 co-founded American Housing Partners a developer and manager of low-income housing.

HFA-Intershop Management Company formed in 1976. Currently manages over 12,000,000 sq. ft. of income producing properties.

US real estate advisor to Phillips Electronics (Holland) and Intershop Holding Co. (Switzerland), Union Bank of Switzerland, Society General Bank of France, Shell Oil Company of Holland, Prudential Securities (New York) and other American and European firms.

HFA Advisors, Inc. formed in 1984 and acts as the investment advisor to Duke Real Estate Investment Trust a New York Stock Exchange listed company. Assets are more than $100,000,000.

In 1982 HFA became an approved general partner for Prudential Bache Securities Inc.

HFA and his Affiliates have participated in real estate syndication's and other real estate transactions involving property with an aggregate cost in excess of $900,000,000. Most of the properties have been acquired through limited partnerships or on the behalf of institutional and international clients.

click here to view some of the properties

EDUCATION:

MBA Southern Methodist University, Dallas, Texas
Major: Real Estate Finance

BA Southern Methodist University, Dallas, Texas
Major: Finance

 

My career

First National Bank, Dallas
Even though I did not graduate, I got a super job in the executive training program. I was living with Keith on Gaston Avenue, playing and working hard. I was ‘fast tracked’ for promotion. After training as a commercial loan officer, I was accepted in National Accounts. Traveled the northeast with responsibility for Boston and New York City.

Irving Klein and Co., Dallas (Real estate syndication and investments)
After SMU, I had only one job offer. If it had not been for professors at SMU, Klein would not have given me a job. Six months into my job, Mr. Klein went to ‘heaven’. His lawyers offered me a job to run the business. It went well.

Harrison Freedmen and Associates, Dallas and New York
Started my own company with two investors. Focus of HFA: real estate development, real estate investment and management, tax shelters investments and representing foreign pension fund investors.
click here to view some of the properties

HFA Moscow LTD, (Investment Advisors for Russia) Moscow
Real estate development, development of a TV national network, privatization of several Russian enterprises.

SALFORD-Belgrade, General Manager
Developed feasibility study and business plan for investing in Serbia. Invested exceeds 500 million to date.

H. F. A. Ltd-Baghdad
Forming a Joint Venture with a Swiss investment banking group and a large Iraq family group to make investment in Iraq. I will move to Baghdad to manage the JV. (My last frontier before moving back to Texas.)

Hobbies, interest and passions.

I learned the joy of reading while living in Moscow. No TV at first. I have read many books on the Soviet Union, Russia, Lenin and Stalin. Just finished “To Kill a Mockingbird” and Paulo Coelho’s new book “Eleven Minutes”. I have read all his books. Recently discovered the marvels of Gabriel Garcia Marques and the mysterious world of Latin American authors and their world between reality and fantasy.

I am a runner. Not for fun but for health. Ran the Belgrade marathon, world known race, in 2003. True test of my will, perseverance and physical abilities after a knee surgery. I jog regularly along Belgrade rivers, across the bridges, back to my block. Regular gym visitor. Love to run the treadmill and watch classics on TCM in my gym on rainy winter afternoons.

Passionate animal lover. Owner/companion to miniature apricot puddle named Mickey for past 10 years. Shelter and food provider to a street cat, named Mother Cat, that will not give up her street ways, she comes in for food, love and a warm place to sleep under a lamp in order to get the tenure to roam her block before coming back to my place for more rest. One of the favorite people of African grey parrot in a local pet shop. Part time caretaker to a great German Shepherd female I call Girl Dog.

My Passion: deal making.

Where have I lived and traveled?

Growing up in Amarillo, Texas: Normal average American family. 2 sisters, both graduated from university. Mother, schoolteacher and public theaterdirector. Father, B-B-Q restaurant owner

*Dallas / Paris
Lived between Dallas and Paris. Paris was my ‘base’ for my business activities in Western Europe.
(Learning Experience 1: Parisians are unpleasant to foreigners. But the French culture and the way of living, for me, are to be admired. I learned to enjoy the good and forget the bad. My eyes were open to the beauty of van Gogh paintings. The power of Toulouse-Lautrec drawings. I say my eyes were re-opened to the beauty and power of French impressionists and French art of living).

*Dallas / New York
New York New York, the greatest city in the world. (See Judy Browning book about NYC). I fell in love with ALL of NYC. Theaters, restaurants, clubs, museums, Southampton and New Yorkers.
(Learning Experience 2: NYC will ‘eat you alive’ if one does not have sound principals regarding living.)

*Moscow
I moved to Moscow, Soviet Union January 1991 and lived for 6 months in Belgrade Hotel. El Reno has better than this. However, every day was exciting and different. The people: I fell in love ten times a day. Business opportunities: everywhere.

August 21, 1991 the coup. The beginning of the end for the Soviet Union and the Communist Party (the Party was reinstated in later years). I went to the White House and stood with Yeltsin. My driver and I went all over Moscow and stoked with the military troops. We celebrated in the streets and mingled with the people.

1993 and attempted coup. The military did not intervene until the ‘23rd hour’. Yeltsin was close to resigning. Streets were ‘wild’.

(Learning Experience 3: Freedom is a ‘gift’ and cannot be taken for granted. Sometimes you must fight to preserve this ‘gift’. I will never take being an American for granted.)

In June 1994, I met Natasha. I fell in love. I can remember, like yesterday, the falling. We got married in August 2000. In between, Natasha lived in Paris and finished her BBA and interned at an advertising agency.

I traveled all over Russia and other CIS countries. There are many different cultures and ethnic groups. Christians, Orthodox, Muslims, Jews, etc. I never felt unsafe. For my classmates that are ‘art lovers’, you must go to Saint Petersburg. I can write pages on this city. As long as you in Russia, come to see me in Moscow (I will come up from Baghdad.)

*Belgrade, Former YUG. (Now Serbia) (2001 to present)
Serbians did not cause the war in former Yugoslavia. Live in denial. But, they love life. Drink strong coffee A city of 2.5 million. Seems small after Moscow. People are different. Very nationalistic. Believe and smoke cigarettes. Have great athletes (basketball, water polo, volley ball and soccer). Beautiful ladies.

I have enjoyed living in this part of the world, the Balkans. I have traveled all the countries in the region. All different with distinctive cultures.

What am I doing now?

As a pioneer and a pure entrepreneur, Iraq is a calling. I would not miss out on this great business challenge. 23 million people. 2nd largest oil reserves in the world (120m billion barrels of oil). Enterprises to be privatized. The last frontier. Action on every street corner, all over Iraq.

Even more guns and soldiers than in Kosovo.

I just returned from Baghdad. To get to Baghdad you go by GMC van from Amman, Jordon. It takes 10 hours+-. 350 km from Amman to Iraq border (bad road). Then 550 km to Baghdad on a 4 lane divided highway. It is flat and straight. Not a tree in sight. In fact, there are four lane highways all over Iraq.

I was very nervous at first because of what I had read in the papers and seen on TV. I assumed we would have armed guards. WRONG. I left my hotel at 3:00am and was driven by a Palestinian man of about 30. We arrived at the border at 5:30 am. No problem at all. There were 3 American solders at the crossing.

(Learning Experience 4: The most dangerous place to be in Iraq is around coalition solders. In fact, when passing on a road/highway you go very fast. The way to get killed is being in the ‘wrong place wrong time’. And that is when roadside explosive, rockets or suicide bombers attack military trucks.)

I arrived in Baghdad at 12 noon. Very big city. Well planed. Modern roads and bridges. Cars like in New York. No traffic lights. Very few traffic police. A ‘big zoo’ that has its own driving rules. Soldiers are not seen. Very few check points. Soldiers guard major government offices, bridges, CPA head-quarters (in the largest Hussein’s palace.) TV’s, refrigerators, satellite dishes, and household goods and food items are being sold everywhere. I thought merchants were giving away goods. I was a millionaire for a few days. $500 purchased 1,00,000 diners (local currency).

(Learning Experience 5: I traveled all around Baghdad and talked to many different people. Rich, poor, drivers, doctors, street people, former soldiers etc. Not one person was unhappy about the US and British solders invading their country. Hussein was as bad as Hitler and Stalin. 8,000,000 died under Hussein’s ‘watch’. His son’s were rapists and murders. Hussein was a follower of Lenin: rule by terrorizing the people. Kill all people who think different than you. My personal felling after being in Iraq and seeing and talking with a cross section of the population, is the war was justified. Maybe the war started for the somewhat wrong reasons but the results liberated 23 million people.)

Today, the UN Security Council approved the US resolution on Iraq. A very positive sign. The US cannot carry the ‘full weight’ of post war Iraq. I believe the political satiability is ‘around the corner’ (2/3 years). In 5 years, Iraq will not be the same country. In 10 years, young people will not remember the war. I can say this with experience after living in Russia for 11 years and Serbia for 2 years.