VNV Global — Net Asset Value 2011

Sep 2, 2011

Press Release September 2, 2011

Net asset value as of August 31, 2011: USD 5.97 (SEK 37.88) per share

Net asset value per share: USD: 5.97, SEK: 37.88

Change in net asset value (USD/share) August 2011: -12.07%

RTS index development, August 2011: -13.37%

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

1. TNK-BP Holding 20.2%

2. Black Earth Farming 18.3%

3. Tinkoff Credit Systems 8.2%

Vostok Nafta's estimated net asset value as of August 31, 2011 amounted to approximately USD 603.04mln (SEK 3,825.69mln according to USD/SEK 6.3440). Net cash as of August 31 amounted to USD 25.63mln. The number of outstanding shares as of August 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 August 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