Closing of Acquisition of Bullion Development Ltd

4th April 2014 For immediate release

MAIL.RU GROUP LIMITED

Closing of Acquisition of Bullion Development Limited

Dubai, UAE -. Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as "the Company" or "the Group"), one of the largest Internet companies in the high-growth Russian-speaking Internet market, announces today the closing of the acquisition of Bullion Development Limited (Bullion), the beneficial owner of 11.99% of VK.Com Limited (VK).

Following the closing of the acquisition of Bullion the Group has a 51.99% economic interest in VK.

Investor Relation Contacts:

Matthew Hammond

Mail.Ru Group

Phone: +971 505 56 1315

E-mail: [email protected]

Press Contacts:

Ksenia Chabanenko

Phone: +7 916 0906626

E-mail: [email protected]

About Mail.Ru Group

Mail.Ru Group (LSE:MAIL, listed since November 5, 2010) is a leading Internet company in the high-growth Russian-speaking Internet markets (Russia is Europe's largest Internet market measured by the number of users, comScore). Mail.Ru Group's sites reach approximately 94% of Russian Internet users on a monthly basis (comScore, December 2013) and the Company is the fifth largest Internet business globally, based on the total time spent (comScore, December 2013).

 In line with the Communitainment (Communications + Entertainment) strategy the Company is moving rapidly to build an integrated communication and entertainment platform. The Company operates two of the three largest Russian language online social networking sites (Odnoklassniki and Moi Mir (or "My World")). The Company also operates the two largest Instant Messaging networks in Russia (Mail.Ru Agent and ICQ), Russia's leading email service and Russia's largest Internet portal Mail.ru, and the Company operates Russia's largest online games platform.

The Company holds equity stakes in VKontakte (51.99%) and Qiwi (10.4%). The Company also holds a number of small venture capital investments in various Internet companies in Russia and Ukraine.