VNV Global — Net Asset Value 2011

Feb 2, 2011

Press Release February 2, 2011

Net asset value as of January 31, 2011: USD 6.70 (SEK 43.14) per share

Net asset value per share: USD: 6.70, SEK: 43.14

Change in net asset value (USD/share) January 2011: 8.80%

RTS index development, January 2011: 5.65%

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

1. Black Earth Farming 21.1%

2. TNK-BP Holding 18.7%

3. RusForest 9.3%

Vostok Nafta's estimated net asset value as of January 31, 2011 amounted to approximately USD 676.76mln (SEK 4,356.68mln according to USD/SEK 6.4376). Net cash as of January 31 amounted to USD 5.85mln. The number of outstanding shares as of January 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 January 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