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