NOTIFICATION OF MAJOR INTEREST IN SHARES

PIK GROUP

NOTIFICATION OF MAJOR INTEREST IN SHARES

LONDON, April 26 2012 - PIK (LSE: PIK), a leading Russian residential developer (the "Company") announces that it has been informed by Mr. Mikail Shishkhanov that on 10 April 2013 Mr. Mikail Shishkhanov increased his stake in the share capital of the Company up to 19.9999 %.

Based on the information available to the Company shareholder structure is as follows:

-Ends-

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 200 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.6 million square meters and a dedicated professional team with over 12,000 employees. Given its brand recognition and the scale of its operations, in 2008 the Russian Government included PIK on the list of the nation's strategically important companies. For more information please visit: http://www.pik-group.com