Result of EGM

Press-release

EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

LONDON, December 12 2012- PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, held its Extraordinary General Meeting ('EGM') of Shareholders on 10 December 2012.

At the meeting, shareholders approved a resolution to allow the Company to increase PIK's share capital by the placement of 363,000,000 (three hundred and sixty three million) additional ordinary registered uncertified shares of the Company (hereinafter referred to as the "Shares") by open subscription on the following terms:

·; Par value of the Shares: 62.50 rubles (sixty two rubles fifty kopeks) each

·; Rights to be provided by the Shares: correspond to rights of owners of ordinary registered uncertified shares of the Company that have already been placed

·; Method of placement of the Shares: open subscription

·; Form of payment for the Shares: by monetary funds in rubles of the Russian Federation in a cashless form, and also in foreign currency pursuant to the procedure provided for by the effective legislation.

The placement price of the Shares (including Shares with preemption rights) shall be determined by the Board of Directors after the state registration of the additional Shares and upon expiration of the validity period of the preemptive right of purchase of the Shares to be placed.

- 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 180 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.9 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 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

Enquiries:

Investors

PIK Group Tel: +7 495 505 97 33 ext. 1358 / 1315

Viktor Szalkay

Media

Natalia Ivanova Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson Tel: +44 20 7638 9571

Tom Baldock

Priscilla Garcia