Litigation update (replacement)

The following amendments has been made to the 'Litigation update' announcement released on 26 July 2012 at 0905 under RNS No 5960I.

The amendment comprises the insertion of the words "a former wholly owned subsidiary of" before "its former investment adviser". All other details remain unchanged. The full amended text is shown below.

Metro Baltic Horizons plc

Litigation update

For immediate release

25 July 2012

The Board of Metro Baltic Horizons PLC ("MBH") wishes to announce that proceedings, which might have led to the forced sale of its property in St Petersburg to satisfy a disputed loan and related security, have been stayed by the Russian court pending the resolution of a related case which is being bought against a former wholly owned subsidiary of its former investment adviser by MBH in the Estonian courts. The Board of MBH is pleased with this positive development, but notes it is one step in a complex litigation process and does not represent a definitive resolution to the matters that are the subject of said litigation

Enquiries

MBH Holdings PLC

Ronan Reid Tel: +353 1 6333843

Fairfax I.S. PLC Nominated Adviser

James King, David Floyd Tel: 020 7598 5368

This announcement will be available on MBH's website http://www.metrobaltichorizons.com/ as soon as practicable in accordance with AIM Rule 26.