Directors Dealings

1 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 was notified on 30 May 2012, that:

Mrs Sarah Jewson, the wife of Richard Jewson, the Chairman of the Company, purchased 2,950 ordinary shares in the capital of the Company for 59.86p per share; and

Christopher Sherwell, Senior Independent Director, purchased 5,000 ordinary shares in the capital of the Company for 60p.

The Company was also notified that Directors of the Company participated in the tender offer. The table below sets out the number of ordinary shares tendered and number of ordinary shares held by each after the above purchases and tender offer.

*either directly in own name or via trusts of which the Director is a potential beneficiary

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 £350 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