OREANDA-NEWS. On 27 March 2008 Kernel Management informed that an Analyst Day was held on 26 March 2008 at the premises of the Company, during which Kernel Holding SA was introduced to Ukrainian and Russian brokerage houses.

Company Management took this opportunity to release new guidance for the financial year ending 30 June 2008. The new guidance for Kernel Holding SA is USD 610 Million turnover, USD 102 million EBITDA and USD 63 million net income.

Company Management also took this opportunity to re-iterate its expectations to receive an oil export license in the range of 90,000 tons, which therefore will exceed the oil export volumes contracted by the Company and which have to be delivered by end June 2008. As to the fine imposed by the Antimonopoly Committee of Ukraine and announced on 3 March 2008, Management stated that discussions are on-going with the Committee and that a reasonable and acceptable settlement is likely to be reached soon on this issue.