NEW MANAGING DIRECTOR AT EAST CAPITAL ASSET MANAGEMENT

Martin Paasi, formerly Deputy Managing Director, has been promoted to Managing Director for East Capital Asset Management AB, the group’s fund management company focusing on public equity funds. He replaces Karine Hirn, who has been appointed Managing Director of the newly-formed East Capital International AB. East Capital International AB is an entity supplying support functions for the whole East Capital group in order to increase operational efficiency.

Martin Paasi, 34, is a Finnish national who joined East Capital as Deputy Managing Director of East Capital Asset Management AB in February 2006. Previously he was the Managing Director of Seligson & Co Fund Management in Finland.

Karine Hirn, 34, is a French national who co-founded East Capital in 1997. Before her appointment as Managing Director of East Capital Asset Management, she was Head of Sales & Marketing.

East Capital facts

East Capital is a leading, independent asset manager specialising in Eastern European financial markets. The company, which is headquartered in Stockholm, with offices in Paris, Hong Kong, Tallinn, Moscow and Oslo, actively manages over EUR 2.7bn, basing its investment strategy on thorough knowledge of the markets, fundamental analysis and frequent company visits by fund managers and analysts.

Further information can be obtained from:

Karine Hirn, East Capital, telephone +46 8 505 88 526

karine.hirn@eastcapital.com