Director dealing

Urals Energy PCL

(''Urals Energy'', the ''Company'' or the ''Group'')

Director dealing

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, has today been notified that Andrew Shrager, Non-Executive Chairman, yesterday acquired 100,000 ordinary shares of US$0.0063 each in the Company ("Ordinary Shares"), at a price of 1.75 pence per Ordinary Share and today acquired 150,000 Ordinary Shares at a price of 2 pence per Ordinary Share. These acquisitions of Ordinary Shares were made via Hillsilk Limited, a company that is controlled by Andrew Shrager. 

Following these purchases, Andrew Shrager has a total beneficial interest in 2,340,500 Ordinary Shares in Urals Energy, representing 0.93% of the Company's issued ordinary share capital.

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For further information, please contact:

Urals Energy Public Company Limited    

Andrew Shrager, Chairman                                                  Tel: +7 495 795 0300

Leonid Dyachenko, Interim Chief Executive Officer             www.uralsenergy.com

Allenby Capital Limited

Nominated Adviser and Broker    

Nick Naylor                                                                            Tel: +44 (0) 20 3328 5656

Alex Brearley                                                                         www.allenbycapital.com