Director/PDMR Shareholding

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

Director's Dealings

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

The Company was notified yesterday that the following dealings had taken place with respect to Anton Bilton, Executive Deputy Chairman of the Company:

· The Bilton Family Discretionary Settlement, a trust of which Anton Bilton's immediate family are beneficiaries, subscribed for 18,083 scrip preference shares of 1p each in the capital of the Company ("Preference Shares") in respect of the Preference Share dividend for the period from 30 September 2015 to (but excluding) 31 December 2015;

· The Bilton Family Discretionary Settlement has transferred 18,083 Preference Shares to Cassian Bilton; and

· Anton Bilton sold 2,000,000 Preference Shares on 30 December 2015 at a price of 120p per Preference Share.

Following these transactions Anton Bilton and his immediate family have a beneficial interest in 5,820,119 Preference Shares (representing 5.92% of the issued preference share capital).

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 £270 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