Net Asset Value(s)

Equest Investments Balkans Ltd
18 July 2007

                       EQUEST INVESTMENTS BALKANS LIMITED


The Net Asset Value per Ordinary Share as at 31 March 2007 was EUR 17.90.  This
NAV is marginally below the reported NAV as at 31 December 2006. As no
independent valuation of the portfolio was undertaken at the end of the first
quarter, the change essentially reflects the costs incurred during the period.

For further information please contact:


Equest Partners Limited                                + 44 20 7240 7600
Petri Karjalainen
Naomi Kora

Collins Stewart Europe Limited                         [phone]
Hugh Field

Financial Dynamics                                     + 44 20 7831 3113
Ed Gascoigne-Pees
Nick Henderson




Notes to Editors:



Equest Investments Balkans Ltd is traded on the AIM market operated by the
London Stock Exchange and the Irish Stock Exchange. The company is one of the
leading international investment companies for the South East European region
focusing on sectors that are set to benefit from the growth in consumer spending
and disposable income in the region. The principal investment sectors of EIB
include retail, financial services, land and property development and
infrastructure opportunities. Following this announcement, the Company has 7
majority and 2 minority holdings in 9 companies in the region. As at 31 December
2006 Net Assets of €310.1m including investments at fair value of €227.6m (based
on independent valuations) and cash of €76.1m.



Equest Partners Ltd is Authorised and Regulated by the Financial Services
Authority (FSA) in the United Kingdom. Equest Partners provides investment
advisory services to Equest Investments Balkans Ltd. The Investment Manager for
the Company is Equest Capital Management Ltd. Equest employs more than 40
professionals in its headquarters in London, as well as in its regional
investment offices in the South East European including Sofia, Bucharest and
Belgrade.




                      This information is provided by RNS
            The company news service from the London Stock Exchange