VNV Global — Net Asset Value 2010

Dec 2, 2010

Press Release December 2, 2010

Net asset value as of November 30, 2010: USD 5.65 (SEK 39.58) per share

Net asset value per share: USD: 5.65, SEK: 39.58

Change in net asset value (USD/share) November 2010: 6.85%

RTS index development, November 2010: 0.64%

Three largest holdings, November 30, 2010 (Share of Portfolio):

1. TNK-BP Holding 19.1%

2. Black Earth Farming 18.7%

3. Tinkoff Credit Systems 9.8%

Vostok Nafta's estimated net asset value as of November 30, 2010 amounted to approximately USD 570.36mln (SEK 3,996.81mln according to USD/SEK 7.0075). Net cash as of November 30 amounted to USD 10.45mln. The number of outstanding shares as of November 30, 2010 was 100,990,975. 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 November 30, 2010.

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