EOS Russia carries out directed new SEK 235m share issue

The Board of EOS Russia has decided to carry out a new share issue aimed at FIM Securities. The new issue, which will cover 2,160,206 shares, will raise SEK 235m for EOS Russia (USD 35m).

The issue is aimed at FIM Securities, part of the Glitnir Group. The shares will be acquired by Glitnir’s Icelandic client base for SEK 109.00 per share, which corresponds to 104% of EOS Russia’s NAV as of 5 July 2007.

After the issue, the number of shares in the company will total 22,521,761.

”I am pleased about and impressed by not only the Icelandic institutions’ knowledge about the utility sector, but also their interest in Russia. This takes us another step closer to our goal of a diverse ownership base and increases the size of EOS, and thereby the liquidity of the stock,” says Sven Thorngren, CEO of EOS Russia.

The decision to carry out this issue was made within the framework for the authorisation issued at the extraordinary shareholders’ meeting held on 8 May 2007. The purpose of the offer is to raise additional capital in order to implement the company’s investment strategy of investing in Russian utility shares and to assure good liquidity for EOS Russia’s shares.

Stockholm, 6 July 2007
EOS Russia

For further information, please contact:
Sven Thorngren, CEO: +46 (0) 8 509 00 180