6 May 2008 11:38
PIK Group06 May 2008 THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN THE UNITED STATES OF AMERICA PIK GROUP ("PIK" or "the Group") NOTIFICATION OF ANNOUNCEMENT DATE FOR 2007 YEAR END RESULTS (LONDON, 6 May 2008) - PIK Group (LSE: PIK), one of Russia's leading residentialreal estate developers, announces that its financial results for the full yearended 31 December 2007 will be issued on Monday 19 May 2008. This will be preceded by the announcement, on Monday 12 May, of the results ofCBRE's independent valuation of the Group's real estate portfolio. - ENDS - Enquiries: PIK Group Tel: +7 495 505 97 33 ext. 1358Viktor SzalkayHead of Investor Relations Citigate Dewe Rogerson Tel: +44 20 7638 9571Tom BaldockLindsay Noton NOTES TO EDITORS PIK Group Overview Founded in 1994, PIK is one of the leading vertically integrated residentialdevelopers with a nationwide presence in Russia. Its business activities areconcentrated in Moscow and the Moscow region with an increasing footprint inmany of Russia's other regions. Its principal activity is the development,construction and sale of residential properties in large scale developmentstargeted primarily at the middle income housing market in Russia. PIK's core activities include: • development of residential real estate projects and sales of completed units, including servicing and maintenance of residential real estate developed by PIK and other developers; • production and assembly of concrete panel housing in Moscow as a subcontractor for the Moscow city government; and • production and sale of raw materials and construction materials. The last four years between 2004 and 2007, PIK has completed over 4 millionsquare meters of housing (equivalent to over 59,000 units) in Russia, includingover 1.5 million square meters (equivalent to 23,000 units) in 2007 alone. June 1, 2007, the Group completed successful listings on the London StockExchange, the RTS and MICEX exchanges in Russia. PIK Group's website address is: www.pik.ru Group Financial Summary Revenue for 2006 equalled US$1,546 million, while corresponding EBITDA amountedto US$486 million. The same time, the Group's net profit was US$298 million. According to CBRE, an independent appraiser, the combined market value of theGroup's properties valued as of January 1, 2007 was US$8.8billion. Some of the information in this press release may contain projections or otherforward-looking statements regarding future events or the future financialperformance of PIK. You can identify forward-looking statements by terms such as"expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may"or "might" the negative of such terms or other similar expressions. Thesestatements are only predictions and actual events or results may differmaterially. PIK does not intend to or undertake any obligation to update thesestatements to reflect events and circumstances occurring after the date hereofor to reflect the occurrence of unanticipated events. Many factors could causethe actual results to differ materially from those contained in PIK'sprojections or forward-looking statements, including, among others, generaleconomic conditions, PIK's competitive environment, risks associated withoperating in Russia, rapid technological and market change, and other factorsspecifically related to PIK and its operations. This information is provided by RNS The company news service from the London Stock Exchange