THIS YEAR’S WINNERS OF THE EAST CAPITAL AWARDS HAVE NOW BEEN ANNOUNCED

Every year, the East Capital Awards are presented to three of Eastern Europe’s most successful companies in the categories Best Growth, Best IPO and East Capital Discovery of the Year. This year’s winners were rewarded on Friday at a ceremony in Stockholm’s Konserthus. They are: Efes Invest – Best Growth, Raiffeisen International – Best IPO and Sedmoi Kontinent – East Capital Discovery of the Year.

East Capital has been investing in Eastern Europe since 1998. It is a region going through rapid change and impressive growth. Through its awards, East Capital aims to create role model companies that will inspire others, and to reward some of these most prominent companies for their active roles in the region’s positive development. Peter Elam Håkansson, Chairman of East Capital, explains that, “We are constantly exploring Eastern Europe in some way - East Capital fund managers and analysts visit as many as 500 companies a year – and some of the companies in which we invest make achievements that are so truly outstanding that they deserve to be publicly highlighted. These companies contribute to Eastern Europe’s growth and our funds’ returns; they lead by example and others should be inspired by them”.

The award for Best Growth is presented to the company that has demonstrated the best growth in sales, assets and profit margins in recent years. Best IPO goes to the company that has carried out the most successful floatation in the region. East Capital Discovery of the Year is awarded to the company that is deemed to have unique results and performance.

Winners of the East Capital Awards 2005:

Best Growth

Efes Invest, Turkey, is the most promising performer in the non-alcoholic beverage sector in Central Asia. The skilful management is carrying out a rapid and impressive expansion over new and existing markets. The company was founded in 1993 in Turkey and has an average market share of 48%. Sales growth for 2004 was 54% whilst EBIT for the same period was up an impressive 182%. Consumption of non-alcoholic beverages on the company’s markets is low compared with the average in Western Europe, which paves the way for continued good growth.

Best IPO

Raiffeisen International, Austria, is one of the leading banking groups in Central and Eastern Europe. The successful IPO combined with the ability to deliver on the goals stated has enabled a good share price development. The bank was among the first in the world to notice the potential in Central and Eastern Europe and started operations in Hungary as early as 1987. Today, the bank has 9.2 million customers in 16 countries and 42,000 employees. The company’s new share issue in 2005 was the biggest in Austria’s history and the eighth biggest in the world in 2005.

East Capital Discovery of the Year

Sedmoi Kontinent, Russia, is the leading food-retailer in Moscow. Their remarkable growth and a solid strategy for further expansion impress. The company was started in 1994 and currently has 103 shops and 9,200 employees. During 2004, turnover was up 45% whilst profits gained a fantastic 215%. The company is enjoying continued growth in both the Moscow region and other parts of Russia.

Facts about East Capital

East Capital is a leading, independent asset manager specialising in Eastern European financial markets. The company actively manages over 1.8 bn EUR, 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 (0)8 505 88 526

karine.hirn@eastcapital.com