Directors Dealings

2 January 2013

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

Directors Dealing

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

The Company was notified on 31 December 2012 that Colin Smith, Chief Operating Officer, sold 160,000 ordinary shares at a price of 63.5p to the Lorier Retirement Annuity Trust of which he is a trustee and sole beneficiary. This transaction has no effect on his interest in ordinary shares which remains at 509,094 shares being 0.086% of the total ordinary shares in issue.

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

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 £350 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