Mr. Paul ManafortMarch 23, 2007

Davis, Manafort

211 North Union Street, Suite 250

Alexandria, VA 22314

USA

Via email and

Viafax: 001-703-299-9110

Dear Mr. Manafort:

The Wall Street Journal is preparing to publish an article concerning the professional services rendered by some US consultancies and law firms to foreign persons and/or foreign-government entities. It has come to our attention that you represent Ukrainian Prime Minister Viktor Yanukovich, Urkaine’s Party of Regions and Ukrainian businessman Rinat Akmetov.

We have received credible information that you and your firm, Davis Manafort, have represented Mr. Yanukovich in connection with his dealings with US government officials, US media and US opinion makers.

However, we have been unable to locate any filings with the Justice Department or the US Senate which describe such work. In general, US law requires Americans to register as foreign agents or lobbyists when they perform any of a wide variety of advisory services in the US for foreign clients such as Mr. Yanukovich, Mr. Akmetov or the political party with which they are associated. The law also covers contacts with American officials, even if these contacts occur outside of the US.

Government filings on foreign representation in Washington are quite voluminous and we think it’s quite possible we may have inadvertently overlooked any filings by Davis Manafort in regard to this matter. In that instance, we’d appreciate it if you could verify that Davis Manafort indeed made such filings and direct us to their location. In the alternative, if Davis Manafort has not made any such filings, we seek an explanation as to why the nature of the work performed by Davis Manafort for Mr. Yanukovich, Mr. Akmetov and/or the Party of Regions in Ukraine does not fall under the requirements of the Lobby Disclosure Act or the Foreign Agents Registration Act.

In either case, this is to inform you that the Journal intends to identify you as a US representative of Mr. Yanukovichfor political, media and public affairs issues. We offer you an opportunity to comment for such an article. While no firm publication date for this article has been scheduled, in order to afford you and your firm the maximum opportunity for input into this story, it’s important we receive a reply by the close of business in the United States on Monday, March 26.

This is a matter of substantial importance and we would appreciate acknowledgement of the receipt of this message as early as possible. Please feel free to contact either of the undersigned if any further clarification is needed as to the Journal’s interests and publishing plans.

Sincerely,

Mary Jacoby

Glenn R. Simpson

011 322 741 1325

011 324 739 5 7732

202 558 7164