ENR Russia Invest SA / ENR Russia Invest SA announces 2009 financial results processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

For the period 1 January 2009 to 31 December 2009, ENR realised a consolidated
net profit of CHF 9.72 million. At 31 December 2009 total assets amounted to CHF
129.64 million, shareholders equity was CHF 106.14 million and the attributable
net asset value per share was CHF 40.64.

During 2009 ENR deployed CHF 46.37 million to acquire a range of local and
foreign currency fixed income instruments of Lukoil, TNK BP, VTB Group, Russian
Railways and Magnit as well as a Lithuania government bond. ENR should receive a
satisfactory return on its investments and has secured investment exposure to
the oil and gas, financial services, transport andretail sectors of the Russian
economy. A further USD 2.5 million was invested in the Valartis Russia and CIS
Fixed Income Fund and ENR increased its position in Eastern Property Holdings
Limited by some CHF 4.65 million.


Due to the global financial crisis and factors such as lower oil prices, capital
flow reversals and productivity, the Russian economy cooled down in 2009. As
monetary policy tightened and liquidity dried-up, banks saw an increase in
defaults and bad loans. A number of midsized businesses found it challenging to
secure growth funding and may now consider private equity capital and expertise.
Growth is projected in excess of 3% in 2010. In Ukraine the economy contracted
by 15% in 2009 and was hard hit by the financial crisis and a downturn in
exports. With a more stable political environment, higher steel prices and
increasing exports, growth rates of up to 3% could be achieved in 2010.
Kazakhstan is still heavily dependant on energy exports and moderate growth of
up to 2% is expected, whilst the Belarus economy remains largely state owned and
will have to attract private capital.

In a challenging 2009 economic environment ENR maintained a prudent investment
approach. With improving economic conditions ENR will continue to consider new
potential investments where the main focus is on Russian based opportunities.
Consumer segments remain of interest and ENR will not pursue investments in
over-geared businesses or those faced with significant counterparty risks. Good
management teams, sustainable cash flow and market relevance are very important.

The ENR annual report is available on ENR's web site at www.enr.ch.

Contact person: Ben de Bruyn, ENR Russia Invest SA, tel: +41 22 716 1000

ENR Russia Invest is an investment company listed on the SIX Swiss Exchange. It
specialises in the management of equities and equity-like investments as well as
fixed income instruments in Russia, the CIS States and the Baltic States.
Additional information on ENR Russia Invest is available on the company website
www.enr.ch.



[HUG#1409949]



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ENR Russia Invest SA
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    Press release (PDF): http://hugin.info/143040/R/1409949/362591.pdf