Ukrproduct announced acquisition of "Arsenievsky" branded kvass business. According to the official information the acquisition has been
completed through purchase of the entire issued share capital of LLC Zhyvyi Kvass ("Zhyvyi Kvass"), a producer of "Arsenievsky" branded kvass,
and, by way of a separate agreement, the purchase of the "Arsenievsky" trademark for an aggregate consideration of GBP 295 k payable in cash in
quarterly instalments out of current facilities.

Alexander Slipchuk and Sergey Evlanchik, directors of Ukrproduct, are each beneficial owners of 42.5% of the issued share capital of Zhyvyi Kvass
and Sergey Evlanchik is the beneficial owner of 47.5% of the issued share capital of the vendor of the trademark. The directors of Ukrproduct who
are not involved in the transaction as related parties consider, having consulted with WH Ireland Limited, Ukrproduct's nominated adviser, that the
terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

AgroInvest comment: Ukrproduct is the first company to complete acquisition in 2012 amongst agro holdings-components of UAIndex. M&A
market is showing lower results in Q1 2012 compared to the same period in 2011, yet we expect uplift in the second quarter.
 

AgroInvest