Director/PDMR Shareholding

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

Directors' Dealings

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

The Company was notified today, 24 June 2014, that Mark Sinclair, Chief Financial Officer, has exercised Long Term Incentive Plan options over 333,334 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares"), with an exercise price of 25p, met by the sale of 111,483 Ordinary Shares at 74.75p each. Following this transaction Mark Sinclair has a beneficial interest in 3,418,024 Ordinary Shares representing 0.4536% of the issued ordinary share capital of the Company.

The Company was also notified today that Colin Smith, Chief Operating Officer, has exercised Long Term Incentive Plan options over 166,667 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares"), with an exercise price of 25p, met by sale of 55,741 Ordinary Shares at 74.75p each. Following this transaction Colin Smith has a beneficial interest in 1,096,849 Ordinary Shares representing 0.1455% of the issued ordinary share capital of the Company.

Enquiries

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

Anton Bilton

Glyn Hirsch

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

Alexandra Stoneham

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

Corporate Finance- James Maxwell

Sales - Alan Geeves / James Waterlow

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