Directors Dealings

21 March 2013

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, 21 March 2013, that a charity of which Anton Bilton, Executive deputy chairman of the Company is trustee, sold 350,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 72.5p per Ordinary Share. Following this transaction Anton Bilton has an interest in 19,105,267 Ordinary Shares representing 3.2418% of the issued ordinary 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

Alexandra Stoneham

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 1.3 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