Holding(s) in Company

31 March 2014

MirLand Development Corporation plc

("MirLand" or the "Company")

Notification of Interests

MirLand, one of Russia's leading residential and commercial property developers, announces that it was notified on 30 March 2014 that, on March 28, 2014, Darban Investments Ltd ("Darban") (a company controlled by Mr Eliezer Fishman, a non-executive director of the Company) purchased 21,500 ordinary shares of MirLand at a price of £2.46 per ordinary share.

Following this transaction, Darban is interested in 15,605,167 ordinary shares in the Company, representing approximately 15.07% of the Company's entire issued share capital.

Mr Eyal Fishman, a non-executive director of the Company, holds a 15.8% equity interest in two companies which, through various intermediate companies, hold an effective interest of approximately 77% of Jerusalem Economy Ltd. ("JEC"), which holds a legal and beneficial interest in approximately 30.47% of the Company.

Mr Eliezer Fishman and his wife Tova Fishman together hold approximately 53% of the intermediate companies referred to above and which hold an effective interest of approximately 77% of JEC.

Darban, together with JEC and Industrial Buildings Corporation Ltd (a company controlled by Mr Eliezer Fishman), effectively hold a legal and beneficial interest in approximately 85.76% of the Company's entire issued share capital.

For further information, please visit www.mirland-development.com, or contact: