PETROGRAND AB HAS BEEN GRANTED MUROMSKIJ-2

April 14, 2011 Petrogrand AB has through its Russian subsidiary Petrogrand Invest LLC, free of charge been granted the rights to, during a 5 year period, perform geological surveys on the license area Muromskij-2, in the Tomsk-region. Petrogrand will, after test drillings and when the oil reserve is confirmed, apply for a 20 year exploration and oil production license. According to data from the State Committee for Natural Resources, the reserves have been determined as 39.4 million tons, (295 million barrels)according to the Russian classification.  When the application period expired on 4 February, one additional application had been submitted. The reason for the delays is that Petrogrand informed the authorities of that the other applicant missed a proper company registration. The following investigation by the authorities showed that this was correct and the application failed. Petrogrand will immediately check the status and quality of earlier surveys on the license area. We will also soonest intensify our work to update and finalize the survey, in order to safe guard that test drillings can be started in the license area during the winter 2011/2012, says Maks Grinfeld, CEO Petrogrand. Petrogrand will continuously keep the market informed about the work progress in the license area. Petrogrand'sbusiness concept is to carry on oil production via acquired Russian oil companies and oil licenses. Petrogrand will also manage, enhance and sell Russian oil assets. For further information, please contact: Maks Grinfeld, CEO, phone: +46 8 5000 7810 Sven-Erik Zachrisson, Chairman, phone: +46 8 41 05 45 96 Certified Adviser First North:   MangoldFondkommission AB Reasonable caution notice: The statement and assumptions made in the company's information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses, strategies, concepts and other statements that are not historical facts are estimations or "forward looking statements" concerning Petrogrand's future activities. Such future estimations comprise but are not limited to statements that include words such as "may occur", "concerning", "plans", "expects", "estimates", "believes", "evaluates", "prognosticates" or similar expressions. Such expressions reflect the management of Petrogrand's expectations and assumptions made on the basis of information available at that time. These statements and assumptions are subject to a large number of risks and uncertainties. These, in their turn, comprise but are not limited to i) changes in the financial, legal and political environment of the countries in which Petrogrand conducts business, ii) changes in the available geological information concerning the company's projects in operation, iii) Petrogrand's capacity to continuously guarantee sufficient financing to perform their activities as a "going concern", iv) the success of all participants in the group, or of the various interested companies, joint ventures or secondary alliances, v) changes in currency exchange rates, in particular those relating to the RUR/USD rate. Due to the background of the many risks and uncertainties that exist for any oil-prospecting venture and oil production company in its initial stage, Petrogrand's actual future development may significantly deviate from that indicated in the company's informative statements. Press Release PDF: http://hugin.info/138739/R/1506370/441142.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Petrogrand AB via Thomson Reuters ONE [HUG#1506370]