The Open consists of two events: A-tournament for players rated over 1800 and B-tournament for players rated up to 1900.
The organizers have secured the prize fund in amount of 10.000 EUR
A-Tournament: 1.500,-; 1.000,-; 500,-; 400,-; 250,-
B-Tournament: 300,-; 200,-; 150,-; 100,-; 50,-
In addition, there are special prizes for Seniors and various elo groups: to 1450, to 1600 to 2000, to 2200 to 2400.
The official website has GM Sergei Tiviakov listed as the top seeded player, but Tiviakov already started competing in the 2th Ferdowsi International Chess Open Tournament which runs until 20th February. (Update: Tiviakov is removed from the list).
Top rated players:
GM Oleg Korneev RUS 2584
GM Andrey Sumets UKR 2569
GM Alexandre Dgebuadze BEL 2551
GM Tornike Sanikidze GEO 2545
GM Vadim Malakhatko BEL 2539
IM Leonid Milov GER 2510
GM Gevorg Harutyunyan ARM 2482
GM Viesturs Meijers LAT 2478
GM Ilmars Starostits LAT 2469
IM Oswald Gschnitzer GER 2466
IM Inna Gaponenko UKR 2435