EOS Russia - Half Year report 1 January - 30 June 2008

EOS Russia - Half Year report 1 January - 30 June 2008 

- IFRS NAV at the end of the period was SEK  5,664 million (SEK  99.94 per
share)

- Profit for the period amounted to SEK 1,062 million (SEK 1,618 million for the
second quarter)

- Main contributor to the profit was the break-up of UES and subsequent
valuation based on the underlying assets

- Several directed share issues completed in April and May, totaling gross SEK
2,118 million out of which SEK  918 million was issues in kind. More than 120
institutions participated

- Total number of shares outstanding after the directed share issues at the end
of the period was 56,673,177 (average for the period was 38,047,831)

- EOS has used a USD 165 million leverage facility to further increase its
holding in UES pre-breakup

- UES ceased to trade on June 6th at which time EOS controlled around 2% of its
outstanding shares

Significant events after the end of the reporting period

- The downturn in global stock markets has negatively impacted EOS daily NAV and
even more so its share price. On the 27th of August EOS daily NAV was SEK 67.95
and its share price closed at SEK 46.7.


Stockholm, 28 August 2008 
EOS Russia 

For further information, please contact: 
Sven Thorngren, CEO: +46 (0) 8 407 31 50 

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.