Director/PDMR Shareholding

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

Directors' Dealing

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

The Company was notified today, 25 June 2014, that Mark Sinclair, Chief Financial Officer, sold 221,851 ordinary shares of 1p each ("Ordinary Shares") to Anton Bilton, Executive Deputy Chairman, at a price of 74.75p per Ordinary Share. Following this transaction Mark Sinclair and Anton Bilton have a beneficial interest in 3,196,173 and 56,021,324 Ordinary Shares representing 0.4241% and 7.4338% of the issued Ordinary Share capital of the Company respectively.

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

Sales - Alan Geeves / James Waterlow

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 £565 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.4 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