Clean Globe International buys a 26% share of Ecoshelf

PRESS RELEASE

Clean Globe International (CGI), member of the Lamor Group, expands it operations in Russia by acquiring a 26% share of Ecoshelf Ltd. Ecoshelf Ltd is a 10 year old environmental service company operating on Sakhalin Island in Russia. They specialize in oil spill response, waste management and other environmental protection services. Ecoshelf Ltd. annual turnover is approximately 20M EUR and employs in excess of 200 persons. The company's main customers are Russian and international Energy Companies.

- We are proceeding in Russia according to the business plan. Through EBRD (European Bank for Reconstruction and Development), Finnfund and NEFCO financing we are able to grow the company on a fast pace by investing in oil spill response and waste management in a way that supports the company's ability to form wider strategically valuable service agreements together with its customers. Lamor Group's Clean Globe International supports the local company and its client base through its global expertise network, said Lamor Group's Chairman Bent Larsen.

- In our 10 year existence, Ecoshelf Ltd. has grown steadily. With a strong partner like Clean Globe International, we can now provide the best solutions for our customers on the Island. The first investments in new equipment has been agreed and we have a plan to invest more than 50M € in new technologies during the next three to five years, using the financial strength that Clean Globe brings as a shareholder, says Ecoshelf Senior Project Manager, William Stillings.

The acquisition is financed by the European Bank for Reconstruction and Development (EBRD), the Finnish Fund for Industrial Cooperation Ltd, Finnfund and Nordic Environment Finance Corporation, NEFCO.

For additional information, please contact:

Rasmus Guldbrand, CEO, Clean Globe International,
tel. +358 20 7650 100

William Stillings, Ecoshelf Ltd. - Sakhalin,
tel. +7-914-755-1868

Clean Globe International Ltd (CGI)

Clean Globe International (CGI) is an independent company providing environmental services. CGI helps its clients in preventing accidents, in responding to oil or chemical spills, in arranging port and hazardous waste management and in land remediation projects as well as in environmental auditing. CGI's Clean Globe Center concept is a cost-efficient way to outsource environmental services. Each Clean Globe Center provides its geographical region with an equipment stockpile and offers an efficient way to respond to oil spills and arranging port and hazardous waste management. For more info, please visit: http://www.cleanglobe.eu

Ecoshelf Ltd. - Sakhalin

Ecoshelf is a Limited Liability Company founded in 1997 in Yuzhno-Sakhalinsk, Russia. Ecoshelf is the first specialized company in the Russian Far East to conduct oil spill response operations. The company has a wide variety of state-of-the-art oil spill response equipment providing high-quality oil spill response services both offshore and onshore. Ecoshelf provides a full spectrum of services to support oil field development on the Sakhalin Shelf and E & P operations in Vietnam. These services include for example; offshore and onshore oil spill response and prevention, protection of highly sensitive areas, cleaning of oiled offshore and onshore areas to restore environmental balance, training of personnel, writing oil spill response plans, waste handling of hazardous industrial waste and a 24 hour oil spill emergency response coverage. For more info, please visit: http://www.ecoshelf.net

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