Spectral Commits to Three Leases with Saratov Oil Partnership

Spectral Capital Corporation

announced today that it had increased its commitment to developing oil and gas fields in the Saratov region of Russia through the planned acquisition of three significant oil and gas leases in the Saratov Region. Spectral expects to have title to the first lease registered in an appropriately structured Special Purpose Corporation by January 2012, with Spectral owning 74% of the oil and gas interests. Additionally, the Company has also targeted two other projects for acquisition with the intention of closing on them soon thereafter.