Management Share Dealing Notification

MOSCOW, October 23, 2008 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) has been notified that Lord Gillford, Chairman of the Board of Directors of the Company, has purchased 5,300 Global Depositary Receipts of the Company at a price of approximately $ 5.49 per GDR on October 20, 2008 for two of his minor children. His total beneficial holdings after this purchase are 5,300 GDRs representing less than 0.01% 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 23, 2008