REG-Ukraine Opp Trust: Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying The Ukraine Opportunity Trust plc
issuer of existing shares to which voting rights
are attached: ii

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights Yes

An acquisition or disposal of qualifying financial instruments which may
result in the acquisition of shares already issued to which voting rights are
attached Yes

An acquisition or disposal of instruments with similar economic effect to No
qualifying financial instruments

An event changing the breakdown of voting rights No

Other (please N/A
specify):

3. Full name of person(s) subject to the Fabien Pictet & Partners Limited (name at
notification obligation: iii time of transaction)
FSA authorisation transferred to FPP Asset
Management LLP on 1 January 2009

4. Full name of shareholder(s) FPP Seven Seas Fund Limited
(if different from 3.):iv

5. Date of the transaction and date on November 2005
which the threshold is crossed or
reached: v

6. Date on which issuer notified: 1 June 2009

7. Threshold(s) that is/are crossed or Above 5%
reached: vi, vii

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of Situation previous Resulting situation after the
shares to the triggering triggering transaction
transaction

if possible
using
the ISIN CODE
Number Number Number Number of % of voting
of of of shares voting rights x
Shares Voting rights
Rights

Direct Direct xi Indirect Direct Indirect
xii

270,000 270,000 320,000 20,000 300,000 0.32 4.83

Ordinary shares

ISIN Code:

GB00B0HW6117

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial Expiration Exercise/ Number of voting % of voting
instrument date xiii Conversion Period xiv rights that may be rights
acquired if the
instrument is
exercised/ converted.

Warrants 30 April 2012 On 30 April in any of 65,000 1.05
the years 2007 to 2012
(inclusive)

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial Exercise Expiration Exercise/ Number of voting % of voting rights
instrument price date xvii Conversion period xviii rights instrument xix, xx
refers to
Nominal Delta

N/A N/A N/A N/A N/A N/A N/A

Total (A+B+C)

Number of voting rights Percentage of voting rights

320,000 5.15%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

FPP Asset Management LLP - % voting rights directly held less than 3%

FPP Asset Management LLP - % voting rights indirectly held = 4.83% (see below)

The following entities are clients of FPP Asset Management LLP:

1. FPP Seven Seas Fund Limited - % voting rights less than 3%

2. Global Emerging Markets Bond Fund Inc - % voting rights less than 3%

3. FPP Emerging Markets Fund Limited - % voting rights = 3.22%

Proxy Voting:

10. Name of the proxy holder: N/A

11. Number of voting rights proxy holder will cease N/A
to hold:

12. Date on which proxy holder will cease to hold N/A
voting rights:

13. Additional information: N/A

14. Contact name: Steven Johnson

15. Contact telephone number: 020 7647 9100

END