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8 June 2006.

NEW MANAGING DIRECTOR OF IFU, IØ AND IFV

The Government has appointed Head of Department Finn Jønck as the Managing Director of The Industrialisation Fund for Developing Countries (IFU), The Investment Fund for Central and Eastern Europe (IØ) and The Investment Fund for Emerging Markets (IFV) with effect from 1st August 2006.

Finn Jønck has a long and active international career with appointments in connection with a. o. the UN, OECD and the World Bank. Finn Jønck comes from a position as Head of the Development Policy Department in the Ministry of Foreign Affairs.

IFU promotes economic activity in the poorer developing countries by co-financing in the form of share capital participation, loans and guarantees. IØ assists the Russian Federation and Ukraine with economic growth and commercial development. IFU, IØ and IFV are self-governing entities.

For further information, contact:

Johannes Poulsen, Chairman,

tel. 24 46 16 49.

Ministry of Foreign Affairs IFU/IØ/IFV

8th June 2006