Launch

Aurora Russia Limited
12 September 2006

12 September 2006: embargoed for 7.00am



       Aurora Russia Limited to invest £12.5 million to launch Kreditmart





Aurora Russia Limited (the 'Company' or 'Aurora Russia'), the AIM-quoted
investment vehicle established to make equity or equity-related investments in
small and mid-sized private companies in Russia, announces that it will invest
£12.5 million to launch Kreditmart, a mortgage and consumer finance brokerage.
Following completion of the deal, Aurora Russia will own 100% of Kreditmart,
however 15% of the company's shares will be reserved for an employee stock
option plan.  Kreditmart is expected to roll-out 10 loan shops covering seven
regions in Russia by the end of 2007 as well as building a book of mortgage
assets.



Kreditmart will be a mortgage and consumer finance company that acts as a broker
distributing financial services products in Russia through a network of loan
shops, internet, bank partners and real estate agents. Aurora Russia has put
together a management team with a track record for building similar operations
in the mortgage and consumer finance sectors, including extensive experience
from DeltaCredit and GE DeltaBank.



James Cook, Director of Aurora Russia Limited and the former Chairman and CEO of
GE Consumer Finance in Russia, will serve as Chairman. Cook's previous track
record includes the successful launch and roll-out of both DeltaCredit (sold to
Societe Generale in 2005) and DeltaBank (sold to GE Consumer Finance in 2004).
DeltaCredit was the pioneer in residential mortgage lending in Russia and is one
of the leading banks for mortgage origination in Russia and GE DeltaBank is the
leading provider of VISA credit cards in Russia.



Kreditmart's management includes Nicholay Korchagin, formerly of GE Consumer
Finance (DeltaBank) and DeltaCredit where over the past six years he led the
development and roll-out of their mortgage product lines.  Korchagin has assumed
the post of General Director of Kreditmart.  Also joining the team will be
senior management personnel from GE Consumer Finance (DeltaBank) and
DeltaCredit.



About Kreditmart



Kreditmart will be a state of the art broker that will provide consumers with a
one stop shop for financial services products including residential mortgages,
home improvement loans, home equity loans, consumer loans, auto loans and
insurance.  A customer's score will be matched to the best available product
being offered by Kreditmart's partner banks, realtors and developers. The core
product of Kreditmart will be residential mortgages and home equity loans to
Russia's emerging middle class.  Kreditmart will be providing affordable
financing options, responsible lending, and the financial opportunities that
home ownership offers to individuals.



Kreditmart will distinguish itself from the existing pool of market players by
being the first in the market to provide a one stop shop for a variety of credit
products, the best value for the money, and speed and quality of service.



Commenting on the investment, James Cook, Director of Aurora Russia Limited,
said:



'Like DeltaCredit and DeltaBank, Kreditmart will be a pioneer in changing the
way consumers in Russia take credit.  Consumers will be matched to the best deal
in the market without having to shop among dozens of lenders. Kreditmart's
approach will simplify the process, provide value to its customers and will make
credit accessible to Russia's emerging middle class.'



Commenting on the investment, Nikolay Korchagin, General Director of Kreditmart,
said:



'Through multiple channels of distribution, Kreditmart will be able to grow
market share and become a pace setter in the financial services sector. We
believe that Aurora Russia's investment along with a management team which has a
proven track record for this type of operation, will enable us to achieve a
leading market position.'







Enquiries


Aurora Russia Limited

James Cook, Moscow         [phone]

John McRoberts, London   [phone]






Financial Dynamics         [phone]

Giles Sanderson

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 of Aurora Russia 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. Aurora Russia 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.



Kreditmart



Kreditmart, incorporated as a limited liability company, is a broker
distributing financial services products in Russia through a distribution
network of loan shops, internet, bank partners, and real estate agents.
Kreditmart represents a company with the best international practices, based on
successful international business models including the team's prior track record
with DeltaCredit and GE DeltaBank. Kreditmart is incorporated as a limited
liability company and 100% owned by Aurora Russia Limited.


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