Mr. Sergei Stetsenko reports

GOLDHILLS HOLDING LTD CLOSES PRIVATE PLACEMENT

Goldhills Holding Ltd. has closed its previously announced private placement offering issuing three million common shares at a price of five cents per share for total proceeds of up to $150,000.

Insiders participated purchasing 200,000 shares. The insider participation is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemption contained in Section 5.5(b) as the company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25 per cent of the company's market capitalization.

All common shares issued pursuant to the offering are subject to a four-month statutory hold period. The net proceeds of the offering will be used for general working capital purposes.

We seek Safe Harbor.