---

Cyprus-based bunker supplier Bunker Holdings Ltd. - part of the Transbunker Group - has today announced the appointment of Managing Director Mr Evgeniy Kelmanov, who this week begins his new role.

Kelmanov replaces previous Managing Director Alexander Mukhin, who is said to have left the company. Before his appointment as Managing Director, Kelmanov was employed for a number of years as an in-house lawyer.

Bunker Holdings confirmed that Andrey Zubov will continue in his role as Bunker Department Manager.

Meanwhile, Transbunker Group's Vice Chairman for bunkering operations has appointed Mikhail Vier to be responsible for all bunkering related activities of the group. Vier is said to be a long-term Transbunker employee.

Bunker Holdings is a physical supplier in a number of Russian and Ukrainian ports including Nakhodka, Vanino, Vladivostok, Novorossiysk, Odessa, Port Kavkaz and Kerch Strait.

In addition to bunkering, the Transbunker Group operates the following oil terminals.

* Vanino Oil Terminal (Russia, Far East) – Total storage capacity 220 000 cub m. and mini crude oil processing unit with annual capacity 500 000 tons.

* Kholmsk Oil Terminal (Russia, Far East - Sakhalin) – Total storage capacity 8,000 cubic metres.

* Nakhodka Oil Terminal (Russia, Far East) – Total storage capacity 18,300 cubic metres.

* Yuzhnyy Oil Terminal (Ukraine, Black Sea) –Total storage capacity 80,000 cubic metres.

* St. Petersburg Oil Terminal (Russia, Baltic Sea) – Total storage capacity 12,000 cubic metres plus 40,000 cubic metres under construction.

Transbunker Group operates a fleet of 14 seagoing tankers and barges, which carry out bunkering and oil trading activities.