PIK.L Regulatory News (PIK)

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PIK GROUP ("PIK" or "Group")

RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

(LONDON, 31 May 2010) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, held its Annual General Meeting of Shareholders on 31 May 2010.

Resolutions approved at the annual general meeting of shareholders are summarised below:

1. Approval of the Russian statutory 2009 annual report and the RAS non-consolidated financial statements of PIK Group for the year ended 31 December, 2009 in accordance with Russian statutory requirements;

2. Approval of non-dividend payments for 2009 financial year as per RAS financial statements;

3. Approval of the number of the Board of Directors members at 8 directors;

4. Approval of the election of the following members of the Board of Directors, of which 14 directors were nominated and 8 were appointed (5 directors were re-elected):

5. Approval of the members of the Audit Commission:

6. Approval of BDO Unicon as the audit firm of the RAS financial statements of the Company for 2010;

7. Approval of related party inter-company transaction between the holding company, PIK Group, and its subsidiary, PIK Region, as set out by the Russian statutory requirements.

Enquiries:

Investors

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

Viktor Szalkay

Head of Investor Relations

International media

Citigate Dewe Rogerson Tel: +44 20 7638 9571

Tom Baldock

Lindsay Noton

Russian media

Dmitry Ivliev Tel: +7 495 505 97 33 ext. 1010 / 1028

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