Director/PDMR Shareholding

RAVEN RUSSIA LIMITED

("Raven Russia" or the "Company")

PDMR Dealings

Pursuant to Disclosure and Transparency Rule 3.1.2 and AIM Rule 17 (Disclosure of Miscellaneous Information) the following information falls to be disclosed;

The Company was notified yesterday, 14 December 2010, that:

Benn Garnham, Company Secretary purchased 20,100 Preference Shares at a price of 123.75p in the name of the Ohana Retirement Annuity Trust of which he is a beneficiary. This transaction takes his total interest in Preference Shares to 27,100 being 0.018% of the total Preference Shares in issue.

Enquiries

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

Anton Bilton

Glyn Hirsch

Cardew Group Tel: + 44 (0) 207 930 0777

Tim Robertson

Catherine Maitland

Numis Securities Limited (NOMAD) Tel: + 44 (0) 207 7260 1000

Nick Westlake