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This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

Novy Neft II Limited Purchases Shares In The Market

Hamilton, Bermuda: 8 December 2004 - The Directors of Novy Neft II Limited (the "Company") wish to announce that in accordance with the Directors' resolution that the Company may repurchase up to 20% of its issued share capital should Shares become available in the market to address any possible imbalance between the supply and demand for the Company's Shares, the Company yesterday purchased 50,000 shares at US$13.45 per Share, a discount to Net Asset Value.

For further information on Novy Neft II Limited please contact:

 

Stephen Davies

Butterfield Securities Limited

Tel: (441) 298 4764

Fax: (441) 295 6759

Email: stephendavies@bntb.bm

Christopher Fitzwilliam-Lay

Charlemagne Capital (UK) Limited

Tel: (44 207) 518 2100

Fax: (44 207) 518 2199

Email: chris.fitzwilliamlay@charlemagnecapital.com