Mangrove Capital Partners and ABRT Venture Fund invested in leading Russian in-game advertising company Entermedia

Moscow and Luxembourg – May 22, 2008

Mangrove Capital Partners, a premier European early stage investor and ABRT Venture Fund of Moscow, Russia, announced investment in technology company Entermedia, the leader in in-game advertising in Russia. The aim of this investment is to support Entermedia's technology of dynamic advertisement placement in computer games. "We are convinced that Entermedia is ideal combination of strong team and the best technology, which allows advertisers to obtain the unique advantages of working with target audience through game media" David Waroquier, principal for Mangrove Capital Partners said.

Mangrove is well-known as the visionary investor of Skype and invests with ABRT Venture Fund since 2006. In 2007 alliance Mangrove - ABRT announced investments in Quintura. The first alliance investment in 2008 is in-game advertising company - Entermedia.

On 21^st, 2008 the firms organized their first board meeting in Moscow, which determined the further development of the company and the whole market of in-game advertising in Russia. First 10 successful advertising campaigns were announced at the meeting.

"At ABRT, we pay a lot of attention to the operational indicators of a company. Currently there are 350,000 unique monthly users who download games with embedded technology from Entermedia", Nikolay Mitushin, investment director for ABRT Venture Fund clarifies.

About Mangrove Capital Partners

Mangrove Capital Partners "Mangrove" provides venture capital with a punch to entrepreneurs looking to build world class companies. Our mission is to help turn visions into realities by providing financing, thoughtful advice, relevant experience and deep industry relationships to our portfolio companies. Mangrove has invested in, among others, the following companies: Skype (www.skype.com), Securewave (www.securewave.com), Dialcom Networks (www.dialcom.com), Nimbuzz (www.nimbuzz.com), Properazzi (www.properazzi.com), Quintura (www.quintura.com), and Piczo (www.piczo.com)

To learn more about Mangrove Capital Partners, please visit www.mangrove-vc.com.

About ABRT Venture Fund

ABRT Venture Fund is a venture capital fund focused on early and growth stage software and internet companies with R&D efforts based in Russia and East-Central Europe. The firm was established by Ratmir Timashev and Andrei Baronov, the founders of Aelita Software. Aelita Software was sold in March 2004 for $115 million to US-based Quest Software, constituting one of the largest deals in the Russian software market to date. ABRT Venture Fund is based in Moscow, Russia.

Entermedia is a high-tech advertising agency created the first and the only in-game advertising technology for placement advertisements in games. From 2005 to 2007 Entermedia implemented a product placement of the solution in PC and online games. From 2007 Entermedia started to implement placement of dynamic advertising in casual, PC and online games. The key is Entermedia's own technology Egoset. For more detailed information please visit www.entermedia.ru

Contact:

David Waroquier
Mangrove Capital Partners
Phone +352 26 25 34 1

Nikolay Mitushin
ABRT Venture Fund
Phone: +7 (812) 335-5545