UKRPRODUCT ANNOUNCES RESULTS OF THE AGM: Latest news

29 June 2009

Kyiv, Ukraine – 29 June, 2009 – Ukrproduct Group (“Ukrproduct” or the “Group”) (AIM: UKR), a leading producer and distributor of branded dairy products in Ukraine,today announced that nine out of ten resolutions put to shareholders at the Annual General Meeting of its shareholders (the “AGM”), which took place on June 26, 2009, were approved.

Resolution number eight on the appointment of BDO Stoy Hayward LLP as auditor to the Company to hold office until the conclusion of the next annual general meeting and to authorise the Directors' to fix the auditor's remuneration was rejected by the majority of votes.

The statutory Board meeting which was held following the AGM appointed Baker Tilly Channel Islands LTD as Ukrproduct’s independent auditor for 2009. Baker Tilly Channel Islands is part of Baker Tilly International which has a strong presence in Ukraine. In line with Ukrproduct’s policy, the Board made the decision to rotate the external auditors.

There have been no reportable events or reservations in the audit report for the last four years in connection with the engagement of BDO Stoy Hayward LLP as auditors of the Company.

The Directors are hereby authorised to fix the auditor's remuneration.

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