Aurora Russia Limited ("Aurora Russia") announces that it has agreed with Aurora Investment Advisors Limited ("AIAL") to amend the exclusivity provisions of the Investment Management Agreement dated 20 March 2006. This will enable AIAL to both continue to act as the investment advisor to Aurora Russia and capitalize on the continued demand for investment in Russia by being able to manage other investment funds with substantially similar investment objectives to those of Aurora Russia. As part of the amendments, Aurora Russia has secured co-investment rights in the first separate fund to be managed by AIAL.

Aurora

Tel: +7 (495) 644 1662

John McRoberts

James Cook

Investec

Tel: +44 (0) 207 597 5000

Martin Smith

Patrick Robb

Numis

Tel: +44 (0) 207 260 1000

Rupert Krefting

Nathan Brown