RAV.L Regulatory News (RAV)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Raven Russia Limited ("Raven Russia" or the "Company")

Tender Offer

Proposed Purchase of 1 in every 46 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 70p per share by way of a tender offer ("the Tender Offer")

Notice of General Meeting

Raven Russia is today posting a circular to its shareholders containing full details of the Tender Offer and a notice of General Meeting convened for 9.00 am on Wednesday 17 October 2012.

The Tender Offer will also present tendering shareholders with an opportunity to sell more than their pro rata entitlement (up to their entire holding of Ordinary Shares) to the extent that other shareholders tender less than their pro rata entitlement. In such case, surplus tenders will be accepted in proportion to the number of additional Ordinary Shares tendered so that the total number of Ordinary Shares purchased does not exceed 13,028,090 (assuming no valid exercise of the Company's warrants).

If the maximum number of 13,028,090 Ordinary Shares is acquired (assuming no valid exercise of the Company's warrants in the period), this will result in an amount of £9.1 million being paid by the Company to its shareholders. It is intended that the Ordinary Shares purchased under the Tender Offer will be cancelled and not available for re-issue.

The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6pm on Tuesday 16 October 2012, who may participate by tendering all or a proportion of their holding of Ordinary Shares at 70p per share. Warrantholders who wish to participate in the Tender Offer will be required to exercise their warrants by Friday 28 September 2012 in accordance with the terms of the Warrant Instrument. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the General Meeting is passed.

Copies of the circular, tender offer forms and form of proxy will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm . In addition, the documents will be available on the Raven Russia website (www.ravenrussia.com/investor ) and may also be obtained from the Company Secretary.

Enquiries

Raven Russia Limited Tel: + 44 (0) 1481 712955

Anton Bilton

Glyn Hirsch

Cardew Group Tel: + 44 (0) 207 930 0777

Tim Robertson

Alexandra Stoneham

Singer Capital Markets Limited Tel: +44 (0) 203 205 7500

Corporate Finance- James Maxwell

Sales - Alan Geeves / James Waterlow

About Raven Russia

Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange with a market capitalisation of approximately £350 million. The company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.3 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. For further information visit the Company's website: www.ravenrussia.com