Czura Thornton and associated parties held a significant minority stake in KEH, a Swedish holding company that invests in high growth, primarily internet related media companies in Russia and neighbouring markets. The Company’s shares traded on the First North exchange in Sweden until a take private was completed. KEH has to date concentrated its investments in the Directory Services and Consumer Commerce sectors.

The Directory Services division has leading market positions in the search and guidance media markets in Moscow, Saint Petersburg and 8 regional centres, publishing directories under the ‘Yellow Pages’ brand. Online search services are offered through www.yellow-pages.ru, www.yell.ru and www.perm1.ru. Directory services are also accessible via cellphone.

The Consumer eCommerce division offers service in Russia under the ‘Avito’ brand, lanching www.avito.ru in October 2007. The site is now one of Russia’s leading websites, offering millions of Russians across the country the opportunity to buy and sell a wide range of goods and services via the internet.

KEH has approximately 870 employees. Further details are available at www.kontakteast.se

Czura Thornton sold its shares successfully in July 2008 as part of the take private by controlling shareholders Vostok Nafta and Kinevik, both of Sweden.