VNV Global — Major Shareholding Notification 2008

Nov 4, 2008

Press Release November 4, 2008

Disclosure Notice

Vostok Nafta Investment Ltd has, as of November 3, 2008 acquired 1,434,880 shares of Varyag Resources, listed at First North at OMX Nordic Exchange. After this acquisition Vostok Nafta holds 1,434,880 shares of Varyag Resources, corresponding to approximately 10.8% of the total number of shares and votes of Varyag Resources.

For further information please contact:

Robert Eriksson, Head of Investor Relations Tel: +46 8 545 015 50