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 on 29 September 2015 that the Bilton Family Discretionary Settlement subscribed for 15,884 scrip preference shares in respect of the preference share dividend for the period from 30 June 2015 to (but excluding) 30 September 2015. Anton Bilton, the Executive Deputy Chairman of the Company, is a trustee of The Bilton Family Discretionary Settlement. Following this subscription Anton Bilton has a beneficial interest in 8,526,866 preference shares.

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 / Ben Griffiths

Sales - Alan Geeves / James Waterlow

Barclays Bank Plc

Tom Boardman / Tom Macdonald Tel: +44 (0) 20 7623 2323

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 £270m 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