Directorate Change

28 Jan 2008 12:30

Highland Gold Mining Limited28 January 2008 Highland Gold Mining Limited Board Changes Announcement 28 January 2008 Highland Gold Mining Limited ("Highland"), the AIM quoted Russian gold producer,announces the appointments, effective today, of Eugene Shvidler, EugeneTenenbaum and Olga Pokrovskaya to its Board of Directors. Henry Horne and ScottPerry have resigned from the Board of Highland with immediate effect. HenryHorne remains in an executive role and Scott Perry is leaving Highland to takeup another appointment. The abovementioned appointments and changes are made in accordance with the interms of the Relationship Agreement made between Highland Gold and Millhouse LLC("Millhouse") dated 4 December 2007, under which Millhouse took an equityinterest in Highland aggregated to 40%. Under the terms of that agreement,Millhouse has the right to nominate directors to the Board of Highlandproportionate to its shareholding. The directors of Highland have reviewed and accepted the nominations and arepleased to welcome the new directors to the Board. In respect of the three newdirectors, other than the information provided below in accordance with Rule 17of the AIM Rules, there is no information required to be disclosed pursuant toSchedule 2 paragraph (g) (iii) to (viii). Enquiries: Highland Gold Henry Horne, Managing Director, Moscow - +7 495 777 5529 Dmitry Yakushkin, Director of Communications - +7 495 777 3155 Duncan Baxter, Corporate Affairs Director - +44 (0)1534 814 202 Dominic Palmer-Tomkinson - +44 (0) 207 7239 0140 JPMorgan Cazenove Michael Wentworth-Stanley, Managing Director(Nominated Adviser) Sam Critchlow - +44 (0) 207 588 2828 Fin Public Relations Alex Glover - +44 (0) 207 608 2280 Millhouse LLC John Mann - +7 495 961 1307 www.highlandgold.com Note: Mr Eugene Shvidler; Eugene Tenenbaum; Olga Pokrovskaya. The following information is provided in accordance with Rule 17, Schedule 2paragragh (g) (i) and (ii) of the AIM Rules: Mr. Shvidler, born in 1964, worked at Russian oil major OAO Sibneft from 1996through 2005, initially as senior vice president and, from 1998, as president ofthe company. Prior to that, he was a member of the international tax group atDeloitte & Touche in New York from 1992 until 1994. Mr. Shvidler is a graduateof the I. M. Gubkin Moscow Institute of Oil and Gas with a specialty in appliedmathematics and received an MBA in finance and international tax accounting fromFordham University in 1991. He is currently Chairman of Millhouse LLC (Russia)and is a member of the Board of Evraz Group S.A. He holds and has held the following directorships or been a partner in thefollowing partnerships and has no previous directorships within the past 5years: OAO Sibneft (as above); Current directorships and fiduciaryresponsibilities: Director - Millhouse LLC (Russia); Evraz Group S.A. Mr. Tenenbaum, born in 1964, served as head of corporate finance for Sibneft inMoscow from 1998 through 2001. In 1994, he joined Salomon Brothers as a directorfor corporate finance, where he worked until 1998. Prior to that, he spent fiveyears in corporate finance with KPMG in Toronto, Moscow and London, includingthree years (1990-1993) as national director at KPMG International in Moscow. Hewas an accountant in the Business Advisory Group at Price Waterhouse in Torontofrom 1987 until 1989. Mr Tenenbaum is a chartered accountant and holds abachelors degree in commerce and finance from the University of Toronto. He iscurrently managing director of Millhouse Capital UK Ltd and a member of theBoards of Chelsea FC Plc and Evraz Group S.A. He holds and has held the following directorships or been a partner in thefollowing partnerships and has no previous directorships within the past 5years: Managing Director -Millhouse Capital UK Limited; Director - Chelsea Ltd;Chelsea FC Plc; Chelsea Football Club Ltd; Chelsea Training Ground Limited;Stamford Bridge Projects Ltd; Lowndes Square Management Company Ltd; Evraz GroupSA. Ms. Pokrovskaya, born in 1969, joined Millhouse LLC as head of corporate financein July 2006. She previously held several key finance positions in Sibneft since1997, including serving as head of corporate finance since 2004. From 1991 until1997, she worked as a senior audit manager at accountancy firm Arthur Andersen.Ms. Pokrovskaya graduated with honours from the State Financial Academy in 1991.She is currently Head of Corporate Finance, Millhouse LLC and is a member of theBoard of Evraz Group S.A. She holds and has held the following directorships or been a partner in thefollowing partnerships and has no previous directorships within the past 5years; Director - Evraz Group SA; OAO Pharmstandard; Greenleas InternationalHoldings Ltd. This information is provided by RNS The company news service from the London Stock Exchange