Directorate Change

Aurora Russia Limited
17 January 2008


                              Directorate Changes

Aurora Russia Limited ('Aurora Russia' or the 'Company'), the AIM-quoted
investment vehicle established to make equity or equity-related investments in
small and mid-sized private companies in Russia, today announces the appointment
of John Richard Whittle, as Non Executive Director with immediate effect.

Coinciding with this appointment, Stephen Coe has stepped down from his position
as Non Executive Director at Aurora Russia, with immediate effect.

Mr. Whittle, a Chartered Accountant aged 52, works for Close Fund Services
Limited in Guernsey and as a Non Executive Director of Aurora Russia, will be
responsible for, amongst other things, overseeing the financial reporting of the
Company and reviewing the accounting and financial reporting for investee
companies.


Commenting on the change of Directors, Sir Trevor Chinn, Chairman of Aurora
Russia, said:

'I am delighted to welcome John Whittle to the Board and believe that his wealth
of experience will prove invaluable in the next stage of the Company's
development. I would also like to thank Stephen Coe for his important
contribution.'

Additional details are set out below:

John Whittle (age 52)

Holding in the Company's ordinary shares: (nil)

Directorships in the previous 5 years:-

Bucktrout & Co. Limited
XiMed Group plc
Hugh Symons Plc
Ora Telecom Limited
Talkland International (UK) Limited

Present Directorships

Pont du Val Limited
Close Fund Services Limited
Legion International Limited
MSS UK Property Index Fund Limited
MSS General Partner

Save for the information disclosed above there is no information to be disclosed
under schedule two, paragraph (g) of the AIM rules.



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

Financial Dynamics
Ed Gascoigne-Pees        [phone]
Felicity Murdoch         [phone]



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.



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