RNS 47720

Aurora Russia Limited ("Aurora Russia" or the "Company")

Results for the 12 months ended 31 March 2010

Investee companies well positioned to capitalise on future revival of Russian economy

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Financial highlights:

· Net asset value per share at 31 March 2010 of 88.0p per share (Net asset value £99.0m)

· Cash and cash equivalents as at 31 March 2010 were £5.70 million

· Net profit for the period of £4.8 million

· Earnings per share for the period of 5.78p per share

Operational highlights:

· £73.9 million invested in five companies, three of which are leaders in their field

· Successful fundraising of £15 million and acquisition of additional 45.5% of OSG

· Intention to return up to £105 million over time to shareholders from proceeds of sale of Company's investments

OSG

· OSG remains the largest records management company in Russia, Ukraine and Kazakhstan

· Increased stake in OSG to 95.5% following the Placing in January

· OSG continued its expansion in Russia and as of Q1 2010 operated in 20 cities (up from 13 in 2009)

· For the year ending 31 December 2009, revenues in Russia grew 30% year-on-year in RUR terms while Poland grew 27% year-on-year in PLN terms

· EBITDA up 26% to £1.7 million for year ended 31 December 2009

Unistream Bank

· Unistream had c.21% of the outbound money transfer market according to Q1 2010 statistics published by the CBR

· Rationalized proprietary distribution network by shutting down 88 under-performing cash desks at the end of 2009

· Despite closures, the volume in Unistream's cash desks held up well and grew 4% year-on-year in Q1 2010

· Revenue for the year ending 31 December 2009 was £51.9 million which was down from £55.1 million compared to the prior year period, due to the impact of the economic environment on the construction industry

· EBITDA was £1.3m down 55% year-on-year

Superstroy

· Focus in 2009 on conserving cash and reducing net debt

· The company's revenues declined by 14% to £132.4 million impacted by fall in DIY market in Russia with most of the decline due to its wholesale operations while retail sales were down by only 8%

· Reduction in net debt to £7.7 million from £14.2 million and increase in EBITDA from a negative -£1.1 million to a positive £3.5 million for the year ending 31 December 2009

Kreditmart and Flexinvest

· Kreditmart impacted by significant contraction in mortgage market

· Shift in focus to insurance and consumer loans

· Both Kreditmart and Flexinvest Bank together have net cash of £5.5 million and £20.5 million in assets as at 31 March 2010

· Principal assets as at 31 March 2010 include a mortgage book net of provision of approximately £8.3 million, yielding 11.7% p.a.

Commenting, Dan Koch, Chairman of Aurora Russia, said:

"Three out of five of our companies are considered to be leaders in their respective markets and we are satisfied that each of them has done what was necessary to maintain this position through the crisis and set a platform to achieve their growth aspirations as and when the Russian market recovers. Economists and analysts have varying views on the strength of the Russian revival but all seem to believe that the country has come through the worst and is now in a good position to grow again over the foreseeable future and to continue to develop as a market economy with an improving international reputation."

Enquiries:

Aurora Russia Limited:

James Cook and John McRoberts +7 (495) 644 1662

Investec Investment Banking

Patrick Robb +44 (0) 20 7597 4000 Martin Smith +44 (0) 20 7597 4000

Financial Dynamics

Ed Gascoigne-Pees +44 (0) 20 7269 7132 Sue I Ong +44 (0) 203 077 0450

For a full news listing please visit the Aurora Russia Press Room