Intention to List

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

Intention to seek Admission to the Official List as a Standard Listing and Cancellation of Trading on AIM of the Company's Preference Shares

Following the announcement of 31 May 2011, the Company has been informed today by the Company's Employee Benefit Trust that on 7 July 2011 it sold 2,000,000 Preference Shares owned by it to new institutional investors. This enables the Company's Preference Shares to comply with the UK Listing Authority's rules requiring at least 25 per cent of the Preference Shares to be in public hands for a listing on the Official List.

It is expected that the admission of the Company's Preference Shares to the Official List and to trading on the Main Market will take place simultaneously with the cancellation of the admission to trading on AIM, and will become effective at 8.00 a.m. on or around 19 July 2011.

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 (NOMAD) Tel: +44 (0) 203 205 7500

Corporate Finance- James Maxwell

Sales - Alan Geeves / James Waterlow

Matrix Corporate Capital LLP Tel: +44 (0) 203 206 7000

Corporate Finance - Malcolm Le May / Roger Clarke

Sales- Carl Gough

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 and Warrants are listed on the Main Market of the London Stock Exchange with a market capitalisation of approximately £310 million, operates out of offices in Guernsey, Moscow and Cyprus.

To date, completed a portfolio of circa 1 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibrisk. For further information visit the Company's website: www.ravenrussia.com