VNV Global — Net Asset Value 2010

Jan 5, 2010

Press Release January 5, 2010

Net asset value as of December 31, 2009: USD 4.74 (SEK 33.94) per share

Net asset value per share: USD: 4.74, SEK: 33.94

Change in net asset value (USD/share) December 2009: -2.18%

RTS index development, December 2009: 5.07%

Three largest holdings, December 31, 2009 (Share of Portfolio):

1. Black Earth Farming 20.9%

2. Kuzbassrazrezugol 10.5%

3. Tinkoff Credit Systems 9.3%

Vostok Nafta's estimated net asset value as of December 31, 2009 amounted to approximately USD 478.99mln (SEK 3,428.04mln according to USD/SEK 7.1568). Net cash as of December 31 amounted to USD 8.52mln. The number of outstanding shares per December 31, 2009 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 December 31, 2009.

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