The Sochi 2014 Organizing Committee to be self-financing for second successive year

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April 12, 2011 Moscow, Russia – In the House of the Government of the Russian Federation the first meeting of the Supervisory Board of the Sochi 2014 Organizing Committee under the chairmanship of Alexander Zhukov, Deputy Prime Minister of the Russian Federation, for 2011 took place. According to the results of the meeting the Sochi 2014 Organizing Committee received a high evaluation for preparing and hosting the 5th Visit of the IOC Coordinating Committee, for the environmental support of the preparation of the 2014 Games, as well as for innovation in developing approaches for conducting the opening and closing ceremonies of the Olympic and Paralympic Games.

The meeting was also attended by Vladimir Kozhin, Head of the Presidential Property Management Department, Vitaly Mutko, Russian Federation Minister of Sport, Tourism and Youth Policy, Dmitry Chernyshenko, the President and CEO of the Sochi 2014 Organizing Committee, Tatiana Dobrokhvalova, the Secretary of the Supervisory Board, and Marat Bariev, Executive Director of the Russian Olympic Committee.

During the course of his speech Alexander Zhukov, the Chairman of the Sochi 2014 Supervisory Board and Deputy Prime Minister of the Russian Federation, noted:

"The beginning of 2011 marked for the Sochi 2014 Organizing Committee a significant progress in a whole series of areas. The results of 5th Visit of the IOC Coordination Commission to Sochi are summed up; the head of the Commission, Jean-Claude Killy, described the progress of the preparation for the Games as "significant." On the whole, planning has moved to a new, more detailed level".

Members of the Supervisory Board especially noted the successful realization of the "Sochi 2014" marketing program, under which more than 1 billion dollars has been attracted. This allows the Sochi 2014 Organizing Committee to become the most successful Organizing Committee of the Winter Games in the entire history of the Olympic movement, and it was able to operate without government financing in 2010. Utilizing the same savings through means of its budget, the Sochi 2014 Organizing Committee plans to achieve the same goal in 2011.

For more information, contact: www.sochi2014.com.

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