Board Change

Ukrproduct Group Ltd
12 July 2006


12 July 2006
                          UKRPRODUCT GROUP LTD ('UPG')

                                  Board Change


Ukrproduct Group announces that David Lattimore has decided to resign as a
Director of the Group in order to pursue other business interests. David will
stand down from the Board on 7 October 2006.

David has been a Non-Executive Director of UPG since November 2004.

Jack Rowell, Non-Executive Chairman, said, "On behalf of the Board, I would like
to take this opportunity to thank David for his excellent work over the last
eighteen months, in particular for helping UPG become the first Ukrainian
company to be admitted to AIM. We wish him every success for the future."


For further information, contact:

Ukrproduct Group                                      [phone]
Jack Rowell, Chairman

Financial Dynamics                                    [phone]
Benjamin Foster / Charles Watenphul



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