Aurora Russia to invest a further £10 million into Kreditmart
28 September 2007

Aurora Russia Limited (“Aurora Russia”), the AIM-quoted investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia, announces that it has invested a further £10 million into Kreditmart, to support further growth of the finance company which distributes mortgages, equity release loans and other consumer finance products. Kreditmart is wholly owned by Aurora Russia which has now invested a total of £22.5 million in the Company.

Kreditmart is a leading multi-brand and multi-product loan financial supermarket in Russia that specialises in mortgages and consumer loans. It was established by Aurora Russia with a £12.5 million investment in November 2006 and has shown strong performance and made significant progress in building its distribution network. Kreditmart opened its first loan shop in Moscow in March 2007 followed by its second loan shop in St. Petersburg in August. Two more branches in Omsk and Novosibirsk are scheduled to open in October. Leases have been signed on locations in Ekaterinburg and Rostov-on-Don, both to open by year-end. In addition, Kreditmart has opened an additional 5 sales points in high street locations in Moscow and the Moscow Region within the real estate sales offices of Doki and Realmart. Kreditmart offers over 400 loan products from 18 partner banks and to date has originated over $10 million in mortgage loans. Kreditmart currently employs 80 mortgage professionals.

Sir Trevor Chinn, Chairman of Aurora Russia, commented on the investment:
“Kreditmart has been steadily exceeding our expectations in terms of growth dynamics; we are committed to further supporting Kreditmart’s buoyant development”.

James Cook, Chairman of Kreditmart and Director of Aurora Russia, said:
“The Russian mortgage market is very vibrant and set for further growth; we are determined to leverage this trend to our advantage so as to deliver greater value to our shareholders. “

Enquiries:
Aurora Russia Limited
James Cook, Moscow
+7 495 644 1662
John McRoberts, London
+44 20 7839 7112

Kreditmart
Natalia Pushko
+7 495 644 1660

Financial Dynamics
Ed Gascoigne-Pees
+44 20 7269 7132
Felicity Murdoch
+44 20 7269 7243

Notes to Editors:
About Aurora Russia
Aurora Russia floated on the Alternative Investment Market of the London Stock Exchange on 24 March 2006. The Company has been established to make equity or equity related investments in small and midsized private Russian companies focused on the financial, business and consumer services sectors where the Directors believe there is potential for growth together with viable exit opportunities within two to four years of making such investments. The Company intends to provide its investee companies with the necessary capital to continue to expand and develop. The Manager shall provide hands-on operational support to deliver significant step changes in performance and value creation.

Aurora Russia targets companies with Enterprise Values of up to approximately £100 million and seeks to secure blocking or controlling stakes and board representation. The Company intends generally to take equity stakes of greater than 20% in each portfolio company. It is anticipated that each equity investment will typically be between £5 million and £25 million.

For more information please visit www.aurorarussia.com

About Kreditmart
Kreditmart is the first-ever multi-brand and multi-product loan supermarket in Russia. The company offers its customers a wide selection of loan and insurance products from the leading Russian banks and insurance companies, overall product offering exceeding 400 programmes. It was set up in 2006 by Aurora Russia Limited, an AIM listed investment vehicle, with a £12.5 million investment. Kreditmart boasts a team of seasoned professionals with track record of success in mortgage and retail banking. Currently the company focuses on mortgages and home equity loans, its flagship products. Kreditmart’s loan shops operate in Moscow and St.Petersburg with several more scheduled for opening by year end in line with the company’s aggressive regional expansion plans.

For more information please visit www.kreditmart.ru