NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- Mr. Lance Larsen, President of Smart Ventures, Inc. (OTC:SMVR) (BULLETIN BOARD: SMVR) is pleased to announce that the Company's wholly owned subsidiary, Metal Assets, S.A. has signed a Memorandum of Understanding with OOO Surovikino Rolled Steel Works, a company formed under the laws of The Russian Federation, also referred to as "Av-Stal". Under the agreement Metal Assets would pay three million dollars to Av-Stal for a fifty percent (50%) equity position in the operating company and a one hundred percent (100%) interest in all of the patents, technical procedures and other intellectual property pertaining to the construction and operation of micro steel plants to be located close to scrap metal supplies, in order to produce rebar, mesh and rolled steel products using the latest "Smart Steel Process" (SSP®) technology. Av-Stal has signed the first of six agreements to build and operate plants in the Russian Federation and one plant to be built in Lithuania. Mr. Larsen commented, "The Smart Steel Process (SSP) has several advantages: 1. A mini plant employing approximately 120 people and producing 120,000 long tons of steel per year can be built and equipped for under US$50,000,000; 2. The plant does not require any special infrastructure and decreases the ecological load; 3. Location - near an adequate scrap supply but away from major scrap metal consumers; 4. Development of a concept for meeting 30-50% of the market demand in the chosen region; 5. Simplification of the production process due to the SSP® technology and the enterprise's operation as a small-batch producer and distribution handled by middle and small suppliers in these markets." Each mini plant will operate as a small retail enterprise purchasing scrap metal and selling finished products, resulting in lowering of expenses for raw materials and for sales of finished products and in the reduction in the number of intermediaries and transportation costs. -- Direct deliveries of finished products to the customer. -- Considerable reduction of expenses for infrastructure and auxiliary equipment. -- Use of know-how in the organization of in-plant logistics and technologies. -- Minimal number of works staff due to a high automation level. In addition Smart Ventures, Inc. will aggressively pursue the interest received from concerns in South and Central America, India and China. This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur. DATASOURCE: Smart Ventures, Inc. CONTACT: Don Lawson, +1-646-415-7987, for Smart Ventures, Inc.

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