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 yesterday, 25 October 2010, that Stephen Coe, Non Executive Director tendered 1,211 Ordinary Shares within the Tender Offer the results of which were announced today. After this transaction Stephen Coe has an interest in 72,727 Ordinary Shares being 0.014% of the total Ordinary 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