Good level of interest in EOS Russia shares

Demand for shares in EOS Russia has been high in the run-up to the listing on First North, a marketplace operated by the Stockholm Stock Exchange. The offer was over-subscribed and the Board has taken the opportunity to issue a total of 6,000,000 shares. The sale price was set at SEK 108.5 and trade in the shares is planned to start on 25 June 2007.

Interest in acquiring shares in EOS Russia has been good from both institutional investors inside and outside of the Nordic region and from the Swedish general public. A total of 6,000,000 shares was issued within the framework of the acquisition offer, which means that the Board will fully capitalise on the possibility of issuing a maximum of 2,000,000 extra shares. A total of SEK 651m (USD ~92 m) was raised by EOS Russia, before issue costs.

After the offer, the number of shareholders in EOS Russia will amount to over 2,000. Nordic institutions will make up 39% of the ownership, non-Nordic institutions will own 49% and the Swedish general public will hold 12%.

"We are extremely happy with the high degree of interest in EOS Russia and our investments in the Russian utility sector. Our holdings in Russian power assets also give us exposure to potential re-valuations that will result from the ongoing reform of the sector," says Sven Thorngren, CEO of EOS Russia.

The sale price was set at SEK 108.5 per share, which corresponds to 104% of EOS Russia’s net asset value of SEK 104.27 as of 12 June 2007, with the price per share rounded off to the nearest SEK 0.25.

The Stockholm Stock Exchange has approved EOS Russia for trading on the First North. Trade in both outstanding shares and temporary shares is estimated to start on 25 June 2007, with the tickers EOS and EOS BTA respectively. Trade in temporary shares will take place from 25 June to 9 July. Trade in the newly-issued shares should start around 16 July 2007. On 25 June 2007, HQ Bank will start its task as liquidity guarantor, both for temporary shares and the company’s shares.

HQ Bank has acted as lead manager and sole book runner, with Mandatum as senior co-manager and Avanza as co-manager.

For further information, please contact:

Sven Thorngren, CEO: +46 8 509 001 80

EOS Russia, a newly-formed investment company headquartered in Stockholm, intends to list on First North, a market place operated by the Stockholm Stock Exchange. The overall objective of the company is to offer attractive returns via investments in the Russian utility sector.