OREANDA-NEWS. July 28, 2011. The board of directors of the Company (the "Board") is pleased to announce that Roman Nasirov has been appointed to the Board as a non-executive director of the Company with immediate effect.

Adel Kambar has stepped down from the Board as he has resigned from Renaissance Capital to pursue other interests.

Roman Nasirov is the Co-CEO of Central and Eastern Europe at Renaissance Capital and Head of Equity and the Debt Product Group. Prior to Renaissance Capital, Mr. Nasirov worked for the Kyiv-based brokerage Concorde Capital Ltd and at Cantor Fitzgerald/BGC in London. Mr. Nasirov holds a degree in law and finance from Kyiv National University of Economics.

Commenting on the changes, Lev Partskhaladze, Non-Executive Chairman, said:

"I would like to take this opportunity, on behalf of the Company, to welcome Roman Nasirov to the Board as a representative of Renaissance Capital, a key shareholder and supporter of the Company. I believe that Roman will provide valuable assistance to XXI Century in capitalizing on its strategic opportunities. I would also like to thank Adel Kambar for his important service to the Company as a member of the Board."

The following information is provided in accordance with paragraph (g) of Schedule 2 of the AIM Rules.

Mr. Roman Nasirov, aged 32, is a director or partner or has been a director or partner of the following entities during the previous five years:

Current directorships or partnerships Past directorships or partnerships held within the last five years

Renaissance Capital Ukraine Concorde Capital Ltd.

Credex Ukr Debt Fund Limited

There are no other matters which are required to be announced with regard to these appointments under paragraph (g) of Schedule 2 of the AIM Rules.