CHANGE IN OWNERSHIP IN OJSC CHERKIZOVO GROUP

April 22, 2010

Cherkizovo OJSC (LSE: CHE), one of Russia's leading integrated and diversified meat producers, has been informed that on 22 April 2010 MB Capital Partners Ltd sold 3.1 million GDRs (each share representing 1.5 GDRs of the Company). Post this transaction, MB Capital Partners Ltd remains the majority shareholder in the Company with 61.5% stake. J.P. Morgan Securities Ltd and Renaissance Capital acted as Joint Bookrunners on the transaction. OJSC Cherkizovo Group was not a party to the transaction. 

Sergei Mikhailov, one of MB Capital Partners Ltd shareholders and CEO of the Company commented: “This transaction further increases the Group’s liquidity, while diversifying the shareholder base. We reiterate our commitment to further develop the business and achieve our long term strategic goals.”  

This announcement is made with the consent of MB Capital Partners Ltd and Joint Bookrunners