ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2011 AND NOTICE OF AGM: Latest news

17 May 2012

Kyiv, Ukraine – 17 May 2012 – Ukrproduct Group Limited (the “Company”) (AIM: UKR), one of the leading producers and distributors of branded dairy products in Ukraine, announces that the annual report and accounts of the Company for the year ended 31 December 2011 have been posted to shareholders and are also available on the Company’s website at www.ukrproduct.com.

The Company has also today dispatched the notice to shareholders convening the Company’s Annual General Meeting (“AGM”) to be held on June 7, 2012, at 5.00 pm (Kyiv time) at the offices of Ukrproduct Group Ltd at the following address: 14th floor, 39-41 Shota Rustaveli Street, Kyiv 01033, Ukraine (the “Notice”).

At the AGM the following resolutions will be proposed to:

1. receive the consolidated accounts of the Company for the year ended 31 December 2011, together with the report of the Directors and the report of the Company`s auditor thereon;

2. approve the Directors` decision to not recommend a dividend for the year ended 31 December 2011.

3. re-elect Jack Rowell, retiring in accordance with Article 17 of the Articles of Association of the Company, as a Director of the Company with effect from the date of the AGM;

4. re-elect Sergey Evlanchik, retiring in accordance with Article 17 of the Articles of Association of the Company, as a Director of the Company with effect from the date of the AGM;

5. re-elect Alexander Slipchuk, retiring in accordance with Article 17 of the Articles of Association of the Company, as a Director of the Company with effect from the date of the AGM;

6. re-elect Olena Yakovenko, retiring in accordance with Article 17 of the Articles of Association of the Company, (having been appointed by the Directors as an additional Director of the Company on 3 September 2010), as a Director of the Company with effect from the date of the AGM;

7. approve the appointment of Baker Tilly Channel Islands Limited 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;

8. to authorize the Company to purchase up to 9,000,000 of the Company`s Ordinary Shares.

Having shareholder approval to buy back shares is a right that other public companies, and companies trading on AIM, have and the Directors believe it is advantageous for the Company to have this flexibility to make market purchases of its own shares. In the event that shares are purchased, they would either be cancelled (and the number of shares in issue would be reduced accordingly) or be retained as treasury shares with a view to possible re-sale at a future date, or be dealt with by the Company as otherwise permitted by the Companies (Jersey) Law 1991, as amended.

Shareholders must be entered on the Company`s share register at 5 pm BST on June 5, 2012 in order to be entitled to attend and vote at the AGM. Such shareholders may only cast votes in respect of shares held at such time. Changes to entries on the relevant register after that time shall be disregarded in determining the rights of any person to attend or vote at the AGM.

A copy of the Notice together with further information with regard to the AGM and other related issues is available here, as well as by request at the following address: Bedell Secretaries Limited, Secretary, 26 New Street St. Helier, Jersey JE2 3RA Channel Islands.

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