Alpcot Agro appoints new Chief Financial Officer

Alpcot Agro AB (“Alpcot Agro”) announces that it has recruited Olga Burdova as Chief Financial Officer for the Group. Ms Burdova will start her new role with Alpcot Agro effectively from 1 November 2010, and be based in Alpcot Agro’s headquarters in Moscow.

Ms Burdova has a long and qualified experience from auditing and financial management. She has worked for seven years in the Tax and Legal Department of PriceWaterhouseCoopers in Russia. More recently, she has worked as financial controller for Russia & CIS of Honeywell, and as CFO of Vision International People Group PL.

Ms Burdova is a certified accountant (ACCA) and holds a degree in Applied Mathematics and Cybernetics from Moscow State University as well as an MBA from INSEAD.

The former CFO of Alpcot Agro, Alexey Mashchenkov, will continue to work with projects within Alpcot Agro as member of the investment team of Alpcot Capital Management.

Björn Lindström, CEO, comments:

 “I am happy to welcome Ms Burdova to the Company. Her extensive experience will further strengthen the Group’s management capabilities. I would also like to extend sincere thanks to Mr Mashchenkov who has made instrumental contributions in a challenging environment during an important period in the Company’s history.”

Stockholm, 1 November, 2010

For additional information please contact:

Björn Lindström, Chief Executive Officer +44 (0) 79798 55556

About Alpcot Agro AB (publ)
Alpcot Agro is a Swedish limited liability company incorporated in 2006. The Company's objective is to generate an attractive total return on invested capital by acquiring and farming agricultural land in Russia and in other CIS member states. The shares in Alpcot Agro are listed on First North under the ticker ALPA and the Company’s Certified Adviser is Remium. Additional information is available on www.alpcotagro.com.