VNV Global — Net Asset Value 2008

Nov 10, 2008

Press Release November 10, 2008

Net asset value of Vostok Nafta Investment Ltd as of October 31, 2008

Net asset value per share: USD: 7.00, SEK: 54.31

Change in net asset value (USD/share) October 2008: -35.8%

RTS index development, October 2008: -36.2%

Three largest holdings, October 31, 2008 (Share of stockholdings):

1. Black Earth Farming 20.4%

2. TNK BP Holding Pref 6.2%

3. Kuzbassrazrezugol 4.4%

Vostok Nafta's estimated net asset value as of October 31, 2008 amounted to approximately USD 322.09 mln (SEK 2,499.55 mln according to USD/SEK 7.76). The number of outstanding shares per October 31, 2008 was 46,020,901. For the shares in the portfolio that are listed, the market value has been calculated by using the last available closing bid price as at October 31, 2008.

This report has not been subject to review by the company's auditors.

Per Brilioth Managing Director

For further information please contact: Robert Eriksson, Head of Investor Relations, Tel +46 8 545 015 50