NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE RUSSIAN FEDERATION, THE UNITED STATES, CANADA, AUSTRALIA, AND JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE. THIS IS A TRANSLATION OF THE ORIGINAL SWEDISH LANGUAGE PRESS RELEASE AND, IN THE EVENT OF A DISPUTE, THE ORIGINAL SWEDISH LANGUAGE PRESS RELEASE SHALL PREVAIL. Prosperity Capital Management has successfully launched Prosperity Quest II. Prosperity Quest II has raised US$ 150 million from a wide range of investors, including Nordic, Continental European and Middle Eastern institutions and family offices, in what has been the worst six-month period for European fundraising in more than six years, according to data provider Preqin. Mattias Westman, Founding Partner of Prosperity Capital Management, comments: “It is pleasing that Prosperity Quest II has attracted strong institutional interest and that we have completed one of the largest Emerging Market fund launches of the last three years - despite the current turbulence in the global markets. “The notable success of Prosperity Quest II is a vindication of Prosperity Capital Management's track record and of the growing interest in the Russian market in general. To have raised such a considerable amount for a long-only, closed-ended Russia and CIS-fund speaks volumes about the turning tide of investor sentiment towards this region.” For further information, please contact Tomas Olsson, COO of Prosperity Capital Management and responsible for investor relations, +44 7834 666 213. About Prosperity Capital Management PCM is a leading investment manager focused on Russia and the CIS region with experience since 1996. As at 30 April 2010, the PCM Group managed, sub-managed or advised in respect of a total of eleven funds and investment mandates with total assets under management of approximately US$4.1 billion. Among the most successful funds managed by the Manager are The Russian Prosperity Fund, launched in 1996, and The Prosperity Quest Fund, launched in 1999. Important notice This document is an advertisement and not a prospectus. Investors should not subscribe for any securities of the Company except on the basis of information in the information memorandum dated 11 June 2010, the supplementary information memorandum dated 30 June 2010 and the second supplementary information memorandum dated 27 July 2010 that have been published by the Company. This document does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, ordinary shares of the Company in the United States, or to any person in any other jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for distribution in the Russian Federation, the United States, Australia, Canada or Japan. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. This press release and the information contained in it are not being issued in the Russian Federation the United States, Australia, Canada or Japan and may not be distributed in the Russian Federation, the United States, Australia, Canada or Japan. In any member state of the EEA, the shares of the Company will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such shares will be engaged in only with, qualified investors (as defined in Article 2 of Directive 2003/71/EC of the European Parliament and of the Council). Persons other than relevant persons and other qualified investors should not act or rely on this document or any of its contents. This document does not constitute an invitation or inducement to engage in investment activity within the meaning of the UK Financial Services and Markets Act 2000. This document is directed only at (a) persons who are outside the United Kingdom, or (b) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), or (c) persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc”) of the Order, or (d) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Carnegie Investment Bank AB (publ), as Lead Manager and Sole Bookrunner is acting for the Company and no-one else in connection with the Global Offer and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Global Offer or any other matter referred to herein. This announcement contains certain forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” “will” and “would” or the negative of those terms or other comparable terminology. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events, and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Potential investors should not place undue reliance on these forward-looking statements. Any forward-looking statements are only made as at the date of this announcement and the Company neither intends nor assumes any obligation to update forward-looking statements set forth in this document, except as required by law or other applicable regulation. Except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities or other financial instruments in Russia or to or for the benefit of any Russian person, and does not constitute an offering to investors who are not "qualified investors" (as defined in the Federal Law on Securities Market of the Russian Federation) or advertisement of any securities or other financial instruments in Russia. This information must not be passed on to third parties or otherwise be made publicly available in Russia. The shares in the Company have not been and will not be registered in Russia or admitted to public placement and/or public circulation in Russia. The shares in the Company are not intended for “placement” or “circulation” in Russia except as permitted by Russian law.