Director/PDMR Shareholding

RAVEN RUSSIA LIMITED

("Raven Russia" or the "Company")

Director 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 today, 17 September 2010, that the following transactions occurred today:

The wife of the Chairman of the Company Richard Jewson, purchased 37,500 preference shares of 1p each in the capital of the Company ('Preference Shares') at a price of 105.5p and sold 75,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 52.25p.

After this transaction, Richard Jewson has an interest in 119,685 Preference Shares and 123,653 Ordinary Shares representing 0.08% and 0.02% of the total Preference Shares and Ordinary Shares respectively

Mark Sinclair, Chief Financial Officer sold 266,667 Ordinary Shares at a price of 52.5p to the Raven Russia Defined Contribution (Executive Guernsey) Pension Scheme, a pension scheme of which Mark Sinclair is a trustee and sole beneficiary. This transaction has no effect on his interest in Ordinary Shares which remains at 614,779 shares being 0.11% of the total Ordinary Shares in issue.

Colin Smith, Chief Operating Officer sold 22,062 Preference Shares at a price of 105.5p to the Lorier Retirement Annuity Trust of which he is a trustee and sole beneficiary. This transaction has no effect on his interest in Preference Shares which remains at 87,505 shares being 0.06% of the total Preference Shares in issue

Benn Garnham, Company Secretary purchased 7,000 Preference Shares at a price of 105.25p and sold 9,636 Ordinary Shares at a price of 52.28p. After this transaction, Benn Garnham has an interest in 7,000 Preference Shares representing 0.004% of the total Preference Shares in issue.

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