Press-release

Kiev, Amsterdam, and Warsaw, 26^th November 2010

• Milkiland, the leading dairy company operating in the CIS, one of the largest and dynamic dairy markets globally, announces that the price of shares in the Offer for retail and institutional investors has been set at PLN 33.78.
• The total value of the offering may exceed PLN 236 mn.
• The total number of shares offered to investors amounts to 7,000,000 (including 750,000 shares as the over-allotment option).

On Thursday, 25^th November, the Milkiland’s book-building process and subscription period for retail investors ended. Based on book-building results, the company set the final price of the offering shares.

“During the road show, we had tens of meetings with representatives of Polish and international institutional investors who positively received perspectives of the Milkiland’s development strategy and dairy markets in Russia and Ukraine“, said Milkiland CEO Vyacheslav Rekov.“I am sure that thanks to the IPO proceeds the company enters a path of more rapid growth. We are also looking forward to working with new Milkiland’s shareholders.”

From 26 to 29 November 2010, institutional investors will subscribe for the offering shares. The final number of shares allocated to institutional and retail investors will be announced on 30 November 2010, after the end of subscriptions for institutional investors. In a connection with demand from investors, the over-allotment option that consists of up to 750,000 existing shares was also executed.

Given the share issue price of PLN 33.78 and assuming that all shares will be subscribed for, the IPO value will be over PLN 236 mn and the company’s post-IPO capitalization will exceed PLN 1 bn. After completion of the offering, new shareholders will hold more than 22% of the stock in Milkiland.

After the allotment of the offer shares, retail investors who subscribed at the maximum price will receive reimbursements of overpaid cash payments, on their brokerage account.

Proceeds from the sale of new shares, estimated at about EUR 53 mn (approximately PLN211 mn), will be used primarily to carry out next stages of the group’s investment programme and to finance acquisitions and new projects. The total value of the group’s planned investments in 2011–2013 is estimated at EUR 83–106 million, including acquisitions.

For more information please contact:

Łukasz Wójcik
NBS Communications
tel: +48 22 826 74 18
e-mail: lwojcik@nbs.com.pl

“This publication is for promotional purposes only and under no circumstances shall constitute the basis for a decision to invest insecurities of Milkiland N.V. (the “Company”). The offering prospectus (the “Prospectus”) prepared in connection with the offering and admission to trading on the Warsaw Stock Exchange (the “WSE”) of the Company’s shares is the sole legally binding document containing information on the Company and the public offering of its shares in Poland (the “Offering”). On 10 November 2010 the Prospectus was approved by Autoriteit Financiële Markten (the “AFM”), the Dutch capital markets authority, and on 15 November 2010 was made available to the public once all the conditions provided under Art. 37 of the Public Offering Act dated 29 July 2005 had been met, i.e., once the Polish Financial Supervision Authority was notified by the AFM of the approval of the Prospectus and received a certificate of the approval of the Prospectus along with the translation into Polish of its summary.
The Prospectus in electronic form is available on the following websites: of the Company (www.milkiland.nl), the Warsaw Stock Exchange (www.gpw.com.pl) and  of the AFM (www.afm.nl)”.