Directors Dealings

20 June 2012

Raven Russia Limited ("Raven" 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 on 20 June 2012 Mark Sinclair, Chief Financial Officer, sold 428,000 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at an average price of 57.73 pence per Ordinary Share to cover certain tax liabilities which fall due as a result of bonus scheme awards and other incentive scheme vestings. . Following this transaction Mark Sinclair is interested in 2,475,756 Ordinary Shares representing 0.41% of the current issued 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

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