UKRAINE OPPORTUNITY TRUST PLC (THE) - Directorate Change

The Ukraine Opportunity Trust PLC (the “Company”)

Directorate Changes

Further to the statement made in the Company's Annual Report for the year ended 31 December 2014, the Company announces that Robin Monro-Davies, a Non-Executive Director and Chairman of the Company has retired from the Board with immediate effect.

The Board is pleased to announce that Nigel Pilkington, a current Non-Executive Director, has been appointed Chairman.

In light of the defeat of each of the resolutions to elect Beatrice Hollond and re-elect Dmitry Chernobay at the Annual General Meeting, Bertrand Lipworth will no longer retire from the Board, as was previously the Board's intention, as stated in the Company's Annual Report.

Mr Pilkington commented "On behalf of the Board, I would like to take this opportunity to thank Robin for his invaluable contribution, first as a Director and Chairman of the Audit Committee, and more recently as Chairman of the Board. He has helped to manage UKRO through some very unusual and challenging times and we will miss his sage council. I would also like to thank Dmitry and Beatrice for their contribution as Directors".

Ukraine remains an unpredictable market for investors and the Board will endeavour to safeguard and maximise shareholder money to the best of its ability.

19 June 2015

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