Directors Dealings

26 June 2012

RAVEN RUSSIA LIMITED

("Raven Russia" or the "Company")

Directors Dealings

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

The Company has today been notified that pursuant to the Placing and Open Offer announced on 30 April 2012, Christopher Sherwell, Senior Independent Non-executive Director, subscribed for 33,570 preference shares of 1 pence each in the capital of the Company ("Preference Shares") under the Open Offer. Following this transaction Christopher Sherwell is interested in 134,282 Preference Shares.

Enquiries:

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

Anton Bilton

Glyn Hirsch

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

Tim Robertson

Alexandra Stoneham

Singer Capital Markets Limited Tel: +44 (0) 203 205 7500

Corporate Finance- James Maxwell

Sales - Alan Geeves / James Waterlow

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 GBP350 million. The company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1 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