NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN - The board of EOS Russia has resolved on directed share issues

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN - The board of EOS
Russia has resolved on directed share issues

The board of EOS Russia (EOS) has today resolved on two directed share issues
towards clients of Carnegie and Troika Dialog. The first is an issue in kind for
not more than 6,063,045 shares to SEK 74.39 per share. The second is a cash
issue for not more than 9,637,042 shares to SEK 75.13 per share. After these
directed issues the total outstanding shares could amount to 56,673,177. The
subscription prices are based on 100% and 101% respectively to EOS' net asset
value at 11:00 CET, May 7th, 2008. 

Stockholm, May 8, 2008
EOS Russia


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 OMX Nordic Exchange, since June 25, 2007.

For further information, please contact:
Sven Thorngren, CEO: +46 (0) 8 407 31 50
Ann-Sofi Jönsson, Investor Relations: +46 (0) 8 407 31 50

This communication is not an offer for sale of securities in the United States. 
The securities have not been registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act") and may not be offered or sold in the United
States absent registration or an exemption from the registration requirements of
the Securities Act. Any public offering of securities will be made by means of a
prospectus that may be obtained from the issuer or selling security holder and
that will contain detailed information about the company and management, as well
as financial statements. The company will not be conducting a public offering in
the United States.

This communication is only directed at (i) persons who are outside the United
Kingdom or (ii) investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the"Order") or (iii) high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order
(all such persons together with Qualified Investors being referred to as"relevant persons"). The securities are only available to, and any invitation,
offer or agreement to subscribe, purchase or otherwise acquire such securities
will be engaged in only with, relevant persons. Any person who is not a relevant
person should not act or rely on this communication or any of its contents.