EOS Russia’s net asset value at SEK 103.08 per share as of 2 August 2007

As of 2 August 2007, EOS Russia’s estimated net asset value amounted to USD 354.5m (SEK 2.382bln at an exchange rate of SEK/USD 6.7413). The net asset value per share was SEK 103.08.

The net asset value per share has been calculated based on 23,104,283 shares, the total number of shares in EOS Russia as of 2 August 2007.

The single largest holding in the portfolio was UES. As of 2 August 2007, the UES GDR’s market price was USD 136.88 and the price of the UES common local shares was USD 1.3688. The market values have been calculated by using the mid-market price at 4.00pm CET.

This report has not been subject to review by the company’s auditors.

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 utility sector. EOS Russia’s shares have been listed on First North, a marketplace operated by the Stockholm Stock Exchange, since 25 June 2007.

Stockholm, 3 August 2007

EOS Russia

For further information, please contact:

Sven Thorngren, CEO: +46 (0) 8 509 00 180