Mangrove Capital Partners, Arlan Investments Group and ABRT Venture Fund have recently invested in first Russian online shopping club KupiVIP.

Moscow, October 29, 2008

Mangrove Capital Partners, a premier European early stage investor, Arlan Invesments Group and ABRT Venture Fund of Moscow, Russia, announced investments in the first online shopping club KupiVIP. KupiVIP is a private shopping club which implements a successful model of European shopping clubs (e.g. Brands4Friends). In KupiVIP every member can buy merchandise from the world famous brands with a discount up to 70%. But the each collection will be available only for 3 days.

Contrasting Europe, where such stores are on high demand, there were no similar projects in Russia yet. KupiVIP closely cooperates with Oliver Jung and Klaus Hommels, who support well-known projects such as Brands4Friends, StudiVZ.de, xing.com.

"We will change the very image of online shopping in Russia and after that Russian consumers will get the opportunities that they've never had before,"David Waroquier, principal for Mangrove said. "We are investing in a big and sustainable team which is full of enthusiasm and energy"

For more information please read the Russian publication at CNews

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 Arlan Investments Group

Arlan is an investment company actively supporting projects in different segments of Russian and CIS economy

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.

KupiVIP is the premier Russian online shopping club started in 2008. For more detailed information please visit www.kupivip.ru