Management Share Dealing Notification

MOSCOW, October 17, 2008 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) has been notified that S. Douglas Stinemetz, General Counsel of the Company, purchased 10,000 GDRs of the Company, constituting 5,000 GDRs purchased at $ 8.00 per GDR on October 15 and 5,000 GDRs at $ 6.00 per GDR on October 16.  After these transactions, Mr. Stinemetz's total holdings in the Company amount to 405,000 GDRs (equivalent to 405,000 common shares), representing approximately 0.28% of the Company.

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EDC is the largest provider of onshore drilling services in Russia, as measured by the number of meters drilled, providing onshore integrated well construction services and workover services.  In addition, the Company provides offshore drilling services in the Caspian Sea.  The Company offers its onshore integrated well construction services and workover services to local and international oil and gas companies primarily in Russia and its offshore drilling services to Russian and international oil and gas companies in the Russian, Kazakh and Turkmen sectors of the Caspian Sea.    The Company is traded on the London Stock Exchange under the symbol "EDCL".

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For further information, please contact:

Kim L. Kruschwitz, VP Investor Relations

+44 (0) 207 717 9707

investors.relations@eurasiadrilling.com

October 17, 2008