BLACK EARTH FARMING PUBLISHES BOND PROSPECTUS AHEAD OF THE EXPECTED LISTING ON NASDAQ OMX STOCKHOLM

Press release                                                                   
St Helier, Jersey                                                               
20 September, 2010                                                              


 BLACK EARTH FARMING PUBLISHES BOND PROSPECTUS AHEAD OF THE EXPECTED LISTING ON 
                              NASDAQ OMX STOCKHOLM                              

Today, Black Earth Farming Ltd. (“Black Earth Farming” or the “Company”)        
publishes a listing prospectus which has been prepared in connection with the   
application for listing of the Company's outstanding SEK 750,000,000 10% Bonds  
2010/2014, Loan no.2, ISIN SE0003366624, on the Corporate Bond list of NASDAQ   
OMX Stockholm. Provided that the listing application is approved, the first day 
of trading on the Corporate Bond List is estimated to be 24 September 2010.     

The bond listing prospectus, which includes a Swedish translation of the        
prospectus summary, is available at Black Earth Farming's website               
www.blackearthfarming.com.                                                      

For additional information, please contact:                                     

Erik Lystedt, Director of Investor Relations and Exchange Compliance Officer,   
Black Earth Farming Ltd., tel: +44 (0) 2071 178 100                             

Notes to Editor:                                                                

Black Earth Farming Ltd. is a leading farming company, publicly listed in       
Stockholm and operating in Russia. It acquires, develops and farms agricultural 
land assets primarily in the fertile Black Earth region in southwest Russia.    
Black Earth Farming has gained a strong market position in the Kursk, Tambov,   
Lipetsk, Samara, Voronezh and Ryazan areas, controlling some 330,000 hectares of
what perhaps is the world's most fertile soil.                                  

In 2008 Black Earth Farming harvested 141,900 hectares and in 2009 it has       
harvested over 183,000 hectares, effectively making it one of the world's       
largest farming companies by planted area. The Company's main products are      
wheat, barley, corn, sunflowers and rape seeds.                                 

Corporate website: www.blackearthfarming.com