City of London Investment Management increase holdings in EOS Russia above 15%

EOS Russia has been advised by City of London Investment Management that funds or accounts managed by City of London Investment Management have increased their holdings in EOS Russia above 15% of shares outstanding.

City of London Investment Management Company Limited is an asset management group specialising in Emerging market closed-end fund investment. The Company was founded in 1991 and is listed on the London Stock Exchange .

Stockholm, September 13, 2011

For further information, please contact: ir@eos-russia.com

EOS Russia is an investment company headquartered in Stockholm. The overall objective of the company is to offer attractive returns via investments in the Russian electricity industry. EOS Russia's shares have been listed on First North, a marketplace operated by the Stockholm Stock Exchange, since 25 June 2007.