Result of 2013 GDR buying programme

18th March 2014 For immediate release

MAIL.RU GROUP LIMITED

Result of 2013 GDR buying programme, and commencement of 2014 programme.

Dubai, UAE- With the publication of the 2012 annual report and Q1 revenue update on April 25th, 2013, Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as "the Company" or "the Group"), announced that the Board of Directors of the Companyhad approved a GDR buying programme of up to $30m for the Employee Benefit Trust (the "EBT").

This buying programme was started on Friday, June 21st 2013 and ended on December 20th, 2013. In that period the Group spent $14.6m buying 414,261 GDR's at an average price of $35.28.

With the publication of the 2013 preliminary FY 2013 on February 20th, 2014, the Company announced that its the Board of Directors had approved a further $45m GDR buying programme for the EBT.

The Company announces today that this buying programme was started today, March 18, 2014.

Investor Relation Contacts:

Matthew Hammond

Mail.Ru Group

Phone: +971 505 56 1315

E-mail: [email protected]

Press Contacts:

Ksenia Chabanenko

Phone: +7 916 0906626

E-mail: [email protected]

About Mail.Ru Group

Mail.Ru Group (LSE:MAIL, listed since November 5, 2010) is a leading Internet company in the high-growth Russian-speaking Internet markets (Russia is Europe's largest Internet market measured by the number of users, comScore). Mail.Ru Group's sites reach approximately 94% of Russian Internet users on a monthly basis (comScore, December 2013) and the Company is the fifth largest Internet business globally, based on the total time spent (comScore, December 2013).

 In line with the Communitainment (Communications + Entertainment) strategy the Company is moving rapidly to build an integrated communication and entertainment platform. The Company operates two of the three largest Russian language online social networking sites (Odnoklassniki and Moi Mir (or "My World")). The Company also operates the two largest Instant Messaging networks in Russia (Mail.Ru Agent and ICQ), Russia's leading email service and Russia's largest Internet portal Mail.ru, and the Company operates Russia's largest online games platform.

The Company holds minority equity stakes in VKontakte(39.99%) and Qiwi (10.4%). The Company also holds a number of small venture capital investments in various Internet companies in Russia and Ukraine.