KYIV, UKRAINE – AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the “Company” or “Avangard”), the leading producer of shell eggs and egg products in Ukraine, today announces trading update for the Q1 2011.

Shell Egg Segment

During the first quarter of 2011 Avangard produced 1,393 million shell eggs, largely due to the increase in its poultry flock. As of 31 March 2011 the Company’s total flock was 25.2 million birds.

After the expected decline in February, March saw growth in shell egg prices resulting in the average price for eggs of UAH 0.54 (excluding VAT) per egg.

During the period the Company continued to execute its strategy of focusing on the development of its customer base. As a result, in Q1 2011 25% of the Company’s total shell egg sales volume went through modern retailers.

During the first three months of 2011 the Company exported its shell eggs to the countries of MENA and CIS.

Egg Products Segment

During the first quarter of 2011 the Company processed 269 million eggs and the average sale price for dry egg products during the period was US $7.78 per kg. (excluding VAT). Company saw growth in demand both in the Ukrainian market and export markets during this period.

During the period the Company exported dry egg products to Jordan, Indonesia, UAE, South Korea, and Vietnam.

Additional Information

The subject of exporting to the markets of the European Union is expected to be considered in late May 2011.

Construction at the Company’s new production facilities at Avis, in the Khmelnitsky region of Ukraine, and Chornobaivske, in the Kherson region of Ukraine, is progressing well and on schedule.

During the first quarter of 2011 all Avangard’s export sales of shell eggs and egg products were made directly. LLC “Imperovo Foods” served as an exporter.

The company continues the process of reorganization by spinning off all of the assets and facilities, which were leased by LLC “Imperovo Foods”, located in Ivano-Frankivsk region, to a new entity, LLC Imperovo Ltd, which was incorporated on 9 November 2010. On 4 March 2011, the general participants’ meeting of LLC Imperovo Ltd resolved to increase the charter capital of LLC Imperovo Ltd and contribute the egg processing plant and its production equipment into the charter capital of LLC Imperovo Ltd. Currently LLC Imperovo Ltd is seeking to register its title to the egg processing plant and its production equipment with the relevant state authorities (the Antimonopoly Committee of Ukraine). Earlier Avangard’s Imperovo egg processing plant leased property, plant and equipment from a related party Stanislavska Torgova Kompaniya LLC.

The trading performance of the Company has been in line with management expectations and we expect to report a robust set of financial results for H1 2011.

For investor relations enquiries:

Victoria Korolchuk
Avangard
Head of Investor Relations

phone.: +38 044 593 28 60
mob.: +38 067 214 84 23
e-mail: v.korolchuk@avangard.co.ua