VNV Global — Net Asset Value 2011

Mar 2, 2011

Press Release March 2, 2011

Net asset value as of February 28, 2011: USD 6.73 (SEK 43.06) per share

Net asset value per share: USD: 6.73, SEK: 43.06

Change in net asset value (USD/share) February 2011: 0.36%

RTS index development, February 2011: 5.33%

Three largest holdings, February 28, 2011 (Share of Portfolio):

1. Black Earth Farming 21.5%

2. TNK-BP Holding 19.8%

3. RusForest 9.3%

Vostok Nafta's estimated net asset value as of February 28, 2011 amounted to approximately USD 679.22mln (SEK 4,348.69mln according to USD/SEK 6.4025). Net cash as of February 28 amounted to USD 15.85mln. The number of outstanding shares as of February 28, 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 February 28, 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