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 yesterday that Anton Bilton, Executive deputy chairman of the Company, has exercised Long Term Incentive Plan options over 639,419 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares"), with an exercise price of 25p. Following this transaction the beneficial interest of Anton Bilton and his immediate family in Ordinary Shares is 52,131,135 Ordinary Shares representing 7.64% of the issued ordinary share capital of the Company.

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 / Liz Yong

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 £275 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