Press-releases

29th January 2008

Oleg Jelezko, founder and Managing Partner of Da Vinci Capital Management, announced that Da Vinci Capital’s flagship product – the Da Vinci CIS Private Sector Growth Fund Limited (the “Fund”) - launched last week and was admitted to listing and to trading on the Channel Islands Stock Exchange, LBG. The Fund raised approximately $90mn from private and institutional investors during a private placement at the end of December 2007. Da Vinci Capital Management focuses on creating alternative investments, private equity and structured products in the CIS region (Russia, Kazakhstan, Ukraine, Central Asia), and has 20 specialist investment advisors, directors and partners split between Guernsey, Moscow and London.

The Da Vinci CIS Private Sector Growth Fund Limited is a closed-ended Guernsey registered company investing primarily in unlisted equity and equity-related securities and other instruments of companies that are located in the CIS. The Directors intend to apply for the Shares to be quoted on the Specialist Fund Market (“SFM”) of the London Stock Exchange plc (“LSE”), dependent on a number of factors including market conditions and the approval of a prospectus by the FSA.

The Fund is managed by Da Vinci Capital Management Limited, a licensed investment manager in Guernsey, which in turn is advised by a five person team based in Moscow, led by Ms. Natalia Ivanova of Da Vinci Capital OOO (Moscow). Ms. Ivanova has more than 15 years of experience in investment banking and asset management, working for Russian and foreign companies.

Da Vinci Capital Management is also launching a series of long/short hedge funds, providing targeted access to various asset classes within the CIS, such as equities, real estate, and fixed income – the first being CIS Special Opportunities Fund: Equity, an open-ended Cayman Island fund. The public equities team is led by Gleb Yakovlev, who prior to Da Vinci Capital managed the equity finance and structured products trading activities at Renaissance Capital.

Da Vinci Capital Management was formed in the summer of 2007, and is a joint venture between Oleg Jelezko and BSG. BSG is a privately held international investment group with over 30 years experience investing in global capital markets, real estate, commodities, precious metals, and oil and gas. Mr. Jelezko was previously head of the Equity Structured Products Group within Renaissance Capital. Da Vinci Capital currently has $250mn of assets under management, comprised of $150mn of assets under advisory management and $100mn in discretionary management. The Bloomberg ticker of the Da Vinci Private Sector Growth Fund is 2333492Z LN GBp.

For further information, please contact Avigail Slavin: +44 20 7529 6643, ir@dvcap.com