UKRAINE OPPORTUNITY TRUST PLC (THE) - Net Asset Value Adjustment

The Ukraine Opportunity Trust PLC ("UKRO" or the "Company")

                                    Update

Further to the announcement made on 26 February 2015, due to the continued
political and economic uncertainty in Ukraine, the Board has increased the risk
adjustment discount applied to the Company's private equity investments with
exposure to Ukraine to 60%, from its previous level of 30%. This has been
reflected in the Net Asset Value announcement released earlier today.

Enquires:

FPP Asset Management LLP              020 7647 9100
Chris Edwards

finnCap Ltd                           020 7220 0500
Stuart Andrews / Grant Bergman