Announcement of up to EUR 200 million capital raising by A/S Trigon Agri

Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Canada or Japan.

Trigon Agri is pleased to announce a private placement of new shares to institutional investors in order to finance Trigon Agri’s further growth.
The capital raising is expected to raise up to EUR 200 million. The company proposes to use the proceeds from the capital raising to bring over 120,000 hectares of land currently under control into full production and to finance the acquisition of additional land, farming equipment, grain storage capacity and to finance dairy farming activities.

Trigon Agri’s distinct business model is to continue growing as an integrated agriculture business operating in the former Soviet Union with activities ranging from the production of agricultural produce to the storage of both its own and third party grain and finally to servicing the end customers via its grain trading activities when such trading activities become operational later this year.

Trigon Agri aims to control 200,000 hectares of farmland by the end of 2008 and up to 450,000 hectares of farmland by 2010.

The capital raising is open to institutional investors outside the United States in reliance on Regulation S and in the United States to qualified institutional buyers under Rule 144A. The private placement will commence on 16 April 2008 and is expected to end on or about 29 April 2008. Publication of the offer price and the exact number of shares to be issued is expected on or about 30 April 2008 and will be made on the First North website and thereafter trading in interim shares commences. Trading in the new shares to be issued on First North is expected to start on or about 6 May 2008.

Credit Suisse and SEB Enskilda are acting as Joint Global Coordinators and Joint Bookrunners of the capital raising.

At the Extraordinary General Meeting of the Company on 17 March 2008, authorisation was given for a share capital increase of up to 175 million new shares.