Fabien Pictet & Partners Limited announces Letter to shareholders of The Ukraine Opportunity Trust PLC


London -- (MARKET WIRE) -- May 9, 2007 --9 May 2007

                EMBARGOED UNTIL 7:00 AM ON WEDNESDAY 9 MAY 2007


                  Fabien Pictet & Partners Limited ("FPP")

        Letter to shareholders of The Ukraine Opportunity Trust PLC 
                         ("UKRO" or the "Company")

FPP are today issuing a circular to shareholders of UKRO in response to that issued by the Board of UKRO on 2nd May 2007 in relation to the matters to be voted on at the Extraordinary General Meeting of the Company, which is due to be held at 10:00 am on Friday 25th May 2007.

Copies of the circular were despatched to shareholders today. The text of the circular is reproduced below.

Enquiries:

Fabien Pictet & Partners Limited
Fabien Pictet                     Telephone: +44(0)20 7647 9100
Richard Yarlott


N M Rothschild & Sons Limited
John Paul McGrath                 Telephone: +44(0)20 7280 5000


Penrose Financial Limited
Gay Collins                       Telephone: +44(0)20 7786 4882
Sarah Caddy                       Telephone: +44(0)20 7786 4819

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