OREANDA-NEWS. December 20, 2010. XXI Century announces the results of the meeting of the holders (the “Noteholders”) of the outstanding USD 175,000,000 Variable Rate Guaranteed Secured Notes due 2010/2014 (the “Notes”), held at the offices of Baker & McKenzie LLP, 100 New Bridge Street, London, EC4V 6JA at 10.00 a.m. (London time) (the “Adjourned Noteholder Meeting”), which had been adjourned on 23 November 2010 due to lack of quorum. This meeting was convened to approve the extraordinary resolution (the “Extraordinary Resolution”) to, inter alia, reschedule the repayment of the first principal instalment of the Notes from 24 November 2010 to 24 May 2011 (the “Consent”).

Voting and Attendance

The Company is pleased to announce that the Extraordinary Resolution has been passed by a majority of 96.80 per cent. of those Noteholders who submitted electronic voting instructions in respect of the Extraordinary Resolution, against a majority requirement of 75 per cent. As holders of 62.88 per cent. of the principal amount of the Notes outstanding submitted electronic voting instructions or attended the Adjourned Noteholder Meeting in person, the quorum requirement of 25 per cent. was fulfilled.

Accordingly, the repayment of the first principal instalment of the Notes, which was due on 24 November 2010 will be postponed until 24 May 2011.