VNV Global — Net Asset Value 2011

Nov 2, 2011

Press Release November 2, 2011

Net asset value as of October 31, 2011: USD 5.55 (SEK 35.77) per share

Net asset value per share: USD: 5.55, SEK: 35.77

Change in net asset value (USD/share) October 2011: 6.02%

RTS index development, October 2011: 16.57%

Three largest holdings, October 31, 2011 (Share of Portfolio):

1. TNK-BP Holding 22.0%

2. Black Earth Farming 17.2%

3. Tinkoff Credit Systems 8.9%

Vostok Nafta's estimated net asset value as of October 31, 2011 amounted to approximately USD 560.67mln (SEK 3,612.03mln according to USD/SEK 6.4423). Net cash as of October 31 amounted to USD 27.02mln. The number of outstanding shares as of October 31, 2011 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 October 31, 2011.

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