1Q 2013 Trading Update

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR

INDIRECTLY IN THE UNITED STATES OF AMERICA

PIK GROUP ("The Group" or "PIK")

1Q 2013 Trading Update

STRONG DEVELOPMENT PIPELINE AND MORTGAGE TAKE-UP

SUPPORT FURTHER SALES GROWTH IN Q1

(LONDON, April 22 2013) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, is pleased to publish today a trading update for the three months ended March 31, 2013 based upon management accounts.

1Q2013 key operational highlights:

·; Total gross cash collections grew by 40.1% to RUB17.5 billion (1Q12: RUB12.5 billion);

- Cash collections from sale of apartments to individuals rose by 41.5% to RUB13.2 billion (1Q12: RUB10.0 billion) driven by the combination of sales price and volume growth;

- Cash collections from construction services were up by 10.3% to RUB2.5 billion (1Q12:RUB2.3 billion);

·; Total new sales contracts to customers grew by 19.5% to 153,000 sq. meters (1Q12: 128,000 sq. meters), driven by accelerating fundamental demand for affordable housing in Russia;

·; In the first three months of the year, PIK released 14 new buildings for sale (1Q12: 9) of which 11 are located in the Moscow Metropolitan Area (MMA);

·; Mortgage backed sales rose to 34.6% in 1Q13 on the back of macroeconomic stability and consumer confidence towards mortgages;

Table 1 - Cash collections summary (1)

Note:(1) In line with PIK's accounting standards, these cash collections will be recognized as sales revenue once the residential real estate properties have been completed and third party acceptance acts (formal building certification provided by authorities) are received upon the completed unit

(2) Including offsets with suppliers

(3) Excluding offsets with suppliers

Source: Management accounts

Table 2 - New sales contracts to customers

Note: (1) including contracted retail and wholesales

Source: Management accounts

Table 3 - Pre-sales launches summary table

Source: Management accounts

Table 4 - 1Q2013 pre-sales launches detailed summary

Source: Management accounts

Table 5 - Share of mortgage funded retail sales

Note: (1) Based upon monthly averaged data upon retail sales, calculated as per flats only

Source: Management accounts

Table 6 - New sales contracts to retail customers (contracted retail volume)

Note: (1) unit is equivalent to aggregated amount of flats, ground floors and parking lots

(2) size is taken for flats and ground floors

Source: Management accounts

Enquiries:

PIK Group

Investors

Viktor Szalkay Tel: +7 495 505 97 33 ext. 1358 / 1315

Media

Natalia Ivanova Tel: +7 495 505 97 33 ext. 1010 /1014