OREANDA-NEWS. On 27 May 2008 was announced, that following our current reports No 36/2008 and 42/2008, the management of Kernel Holding S.A. wishes to clarify the statements published on 7 and 22 May respectively.

Both prices indicated for the acquisition of the farming enterprises include, among other assets, a book of lease contracts for prime farm land, the farming equipment and the working capital necessary for the farming enterprises to operate as a going concerning. In particular, a significant part of the working capital can be found in the form of crops due to be harvested over the summer and autumn 2008. Altogether, the price paid for the farming enterprises and their underlying assets is within the price range we anticipated, especially in view of the forthcoming harvest.