Directors Dealings

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

Directors Dealings

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

The Company was notified today, 11 December 2013, that Colin Smith, Chief Operating Officer, has exercised Long Term Incentive Plan options over 333,333 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares"), with an exercise price of 25p, met by the sale of 102,564 Ordinary Shares at 81.25p each. The Company was also notified that Colin Smith sold 69,500 Ordinary Shares at a price of 80.375 pence per Ordinary Share to cover certain tax liabilities which fall due as a result of the vesting of LTIP awards and other incentive schemes. .

Following this transaction Colin Smith is interested in 485,363 Ordinary Shares representing 0.0869% of the current issued 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

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 £425 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.4 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