BLACK EARTH FARMING LTD.: BLACK EARTH FARMING ANNOUNCES MANAGEMENT CHANGES

Black Earth Farming Ltd. ("Black Earth Farming"), a leading farming company
operating in Russia, today announce that Michel Orlov - President and Deputy
Chairman of the Board of Directors of Black Earth Farming has resigned to
pursue other business interests. 

Sture Gustavsson - the Company's Chief Agronomist has been appointed as acting
president and CEO of Black Earth Farming. 

BEF has grown into one of the largest grain farming operations in the region.
The company has continuously strengthened its team of professionals and during
the summer Igor Smolkin was recruited as CEO of Black Earth Farming's Russian
subsidiary Agro Invest, while Michael Shneyderman was recruited as CFO of Black
Earth Farming. The current management's focus is to make sure that the progress
made during the past three years continues to be built upon to create long term
growth and profitability. 

Per Brilioth, Chairman of the Board of Directors of Black Earth Farming,
commented, 

"On behalf of the whole company and the Board of Directors, I would like to
thank Michel Orlov for his work. Mr. Orlov is a remarkable entrepreneur and
without him Black Earth Farming would not have existed. Michel leaves a leading
company with a very strong management team in place that will bring Black Earth
Farming to the next level." 


For additional information, please contact:

Gustav Wetterling, IR Director, Black Earth Farming Ltd., tel: +44 207 117 81 00

Notes to Editor:

Black Earth Farming Ltd. is a leading farming company, publicly listed in
Stockholm and operating in Russia. It acquires, owns and cultivates
agricultural land assets primarily in the fertile Black Earth region in
southwest Russia. Black Earth Farming has gained a strong market position in
the Kursk, Tambov, Lipetsk, Samara, Voronezh and Ryazan areas, controlling over
330,000 hectares of what perhaps is the world's most fertile soil. Black Earth
Farming will continue to acquire farmland in order to draw full benefits of
economies of scale in its operations. 

In 2008 Black Earth Farming harvested some 143,000 hectares and in 2009 it will
harvest over 167,000 hectares