Press releases

May 2011 Production Update

Dear Friends,
We are pleased to update you on Sadovaya Group operational results in May:

• Production of coal at mines increased 5.5% month to month
• Coal recovery from wastes and dumps increased 61.1% month to month
• Coal sales increased 52.5% year to year and 12.8% month to month

April 2011 Production Update

Dear Friends,
We continue to update you on Sadovaya Group operational results:

• Production of coal at mines increased 4.3% year to year
• Coal sales increased 39.2% year to year and 3.8% month to month

Conference Call on 2010 and 1Q 2011 Results

Sadovaya Group in partnership with BG Capital is pleased to invite you to participate in a conference call on May 19, 2011 at 17.00 Kyiv time (16.00 Warsaw, 15.00 London, 10.00 New York) to discuss the results of Sadovaya Group S.A. for the year ended 31 December 2010 and for the 3 months of 2011, ended 31 March 2011.

March 2011 Production Update

Dear Friends,
We are glad to present you Sadovaya Group March operational result:

• Production of coal at mines increased 170.7% year to year and 29.0% month to month
• Coal sales increased 103.9% year to year and 33.9% month to month

February 2011 Production Update

Dear Friends,
We continue to update you on Sadovaya Group operational results in 2011:

• Coal production at mines increased 159.7% year on year and 16.8% month to month
• Average daily coal mining increased 3.0% month to month at Sadovaya mine and 51.5% month to month at Rassvet-1 mine
• Coal sales increased 195.4% year to year

Acquisition of New License

Dear Friends,
We are pleased to announce that the Group has acquired the license to develop “Roskoshniy” coal field, a natural extension of the Sadovaya field. Total resources of “A” grade coal (anthracite) at “Roskoshniy” field within the bounds of the coal seams l7в, l6н, l4в, k7н amounted to 17.6 million tons. Proven and probable reserves (2P), as confirmed by IMC under JORC code, are 9.1 million tons as of July 1, 2010. The license is issued for 20 years.

Mine Sadovaya was named the best tax payer in 2010

Mine Sadovaya, part of the Sadovaya Group was named the best tax payer in the coal industry in 2010 according to the criteria of net income, sales and wages at the mine, which is confirmed by the national certificate of the State Tax Service of Ukraine.

RAG Mining Solutions delegation paid a working visit to Sadovaya Group

On February 22-26 RAG Mining Solutions delegation visited Sadovaya Group mines. During the negotiations, protocols of intent on cooperation and further action were signed. RAG Mining Solutions are expected to offer on two fronts in the first decade of March: the supply of equipment to Sadovaya Group mines and consulting services for engineering works on the k7нcoal-seam.

January 2011 Production Update

Dear Friends,
We are glad to introduce you Sadovaya Group January 2011 Production Update:

• Production of coal at mines increased 234.8% year to year and 15% month to month
• Coal sales increased 480% year to year

Sadovaya Group S.A. strengthen management team

Dear friends,
We are delighted to announce that our management team has expanded and strengthened with the following additions:

- Yuriy Pinkovskiy, CEO
- Vladimir Denisov, Director of Rassvet-1 mine
- Igor Kovalev, Director of Sadovaya mine
- Alex Dubyna, IR Manager