Director/PDMR Shareholding

Raven Russia Limited ("Raven Russia" or the "Company")

Director's Dealing

Pursuant to Disclosure and Transparency Rule 3.1.2, the following information falls to be disclosed:

The Company was notified yesterday that Anton Bilton, Executive Deputy Chairman of the Company, purchased 76,880 preference shares of 1p each in the capital of the Company ("Preference Shares") at a price of 129.25p per Preference Share from a charity of which he is a trustee. Following this transaction Anton Bilton and his immediate family have a beneficial interest in 7,820,119 Preference Shares (representing 7.95% of the issued preference share capital).

Enquiries

Raven Russia Limited Tel: + 44 (0) 1481 712955

Anton Bilton

Glyn Hirsch

Novella Communications Tel: +44 (0) 203 151 7008

Tim Robertson

Ben Heath

N+1 Singer Tel: +44 (0) 20 7496 3000

Corporate Finance - James Maxwell / Liz Yong

Sales - Alan Geeves / James Waterlow

Barclays Bank Plc Tel: +44 (0) 20 7623 2323

Tom Boardman / Tom Macdonald

About Raven Russia

Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange with a market capitalisation of approximately £275 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.5 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. For further information visit the Company's website: www.ravenrussia.com