Appointments

Aurora Russia Limited
25 May 2006


25 May 2006


       Investment Officer Appointments at Aurora Russia Advisors Limited

Aurora Investment Advisors Limited (the 'Manager') announces that it has
appointed Andrey Gurin and Oleg Bystranov as Investment Officers to complete
their team. The Manager is the management company of Aurora Russia Limited (the
'Company' or 'Aurora Russia'), a quoted investment vehicle established to make
equity or equity related investments in small and medium sized Russian companies
which listed on AIM on 24 March 2006.

Andrey Gurin, 34, has eight years experience in Financial Planning, Controlling
and Business Development in the Consumer Finance and other services sectors in
both developed and emerging markets, including Russia. Previously he was
Financial Controller and Treasurer of GE Consumer Finance Russia, based in
Russia. Andrey holds an MBA from IESE, University of Navarra, Spain with major
in finance.

Oleg Bystranov, 33, has over 10 years experience in working with small and
mid-sized Russian companies, having specialized in originating, structuring and
executing a number of buy and sell-side transactions, primarily in the fields of
media, entertainment and advertising. Previously, he worked as an associate
director for the Moscow office of Altium and later its successor Northstar
Corporate Finance in Russia. Oleg holds an MBA from the Wharton Business School
where he majored in finance and accounting.

Commenting on the appointments, James Cook and John McRoberts, the two Executive
Directors of Aurora Investment Advisors Limited, said:

'Both Andrey's and Oleg's experience in finance, the services sectors and
operating in Russia will be invaluable in helping to originate, transact and
improve the management and operations of our investments. They join us at an
important time, when we are in detailed discussions with a number of different
parties, as Aurora Russia looks towards making its first investments. We have
worked with Andrey and Oleg extensively in the past. Their recruitment completes
the team and we are on track to execute the plans that we outlined at the time
of our IPO.'


Enquiries

Aurora Russia Limited
James Cook, Moscow      [phone]
John McRoberts, London  [phone]

Financial Dynamics      [phone]
Giles Sanderson
Ed Gascoigne-Pees
Svetlana Fedyunin

Notes to editors:

Aurora Russia

Aurora Russia floated on the Alternative Investment Market of the London Stock
Exchange on 24 March 2006. The Company has been established to make equity or
equity related investments in small and mid-sized private Russian companies
focused on the financial, business and consumer services sectors where the
Directors believe there is potential for growth together with viable exit
opportunities within two to four years of making such investments. The Company
intends to provide its investee companies with the necessary capital to continue
to expand and develop. The Manager, shall provide hands-on operational support
to deliver significant step changes in performance and value creation.

Aurora Russia will target companies with Enterprise Values of up to
approximately £100 million and will seek to secure blocking or controlling
stakes and board representation. The Company intends generally to take equity
stakes of greater than 20% in each portfolio company. It is anticipated that
each equity investment will typically be between £5 million and £25 million.

Andrey Gurin

Andrey Gurin began his career at GE Medical Systems and quickly progressed
through a number of finance roles in their Eastern Europe operations to become a
Manager of Finance for Eastern Europe. In 2001 he was promoted to a Manager of
Finance role for GE Medical Systems Middle East & Africa, based out of Paris. In
2003 he moved to GE Oil & Gas Global Headquarters in Italy as a Manager of
Finance for their services operations. He then relocated to Russia in 2004 and
worked for GE Consumer Finance Russia as Financial Controller and Treasurer.
Andrey holds an MBA from IESE, University of Navarra, Spain with major in
finance.  He is also a graduate of GE Experienced Financial Leadership Program
(EFLP).

Oleg Bystranov

Oleg Bystranov began his career at Ernst & Young Corporate Finance where he
advised small and mid-sized Russian companies. Having moved on to work for ABN
Amro Corporate Finance and Delta Private Equity Partners, since 2001 he was an
associate director with the Moscow office of Altium and later its successor
Northstar Corporate Finance. Oleg has been responsible for origination,
structuring and execution of a number of buy and sell-side transactions,
primarily in the fields of media, entertainment and advertising. Oleg holds an
MBA degree from the Wharton Business School where he majored in finance and
accounting and was named to the Director's List for superior academic
performance, and a magna cum laude degree in Operations Research from the State
Academy of Management, Moscow. Oleg also received his CPA certificate in the
state of Delaware in 1999.



                      This information is provided by RNS
            The company news service from the London Stock Exchange