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")

Proposed Purchase of 1 in every 15 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 52p per share by way of a tender offer ("the Tender Offer")

2014 Annual Report and Notice of Annual General Meeting

Raven Russia is today posting to its shareholders a circular containing full details of the Tender Offer, the 2014 Annual Report and a notice of the Annual General Meeting convened for 11.00 am on Wednesday 13 May 2015.

On 9 March 2015, the Board of Raven Russia announced in its results for the year ended 31 December 2014, that the Company intended to offer to purchase 1 in every 14 Ordinary Shares by way of a tender offer at a price of 48p per share. Since then, the Ordinary Share price has risen and the Board has determined to amend the Tender Offer so that it now intends to offer to purchase 1 in every 15 Ordinary Shares at 52p per share.

If the maximum number of 49,175,304 Ordinary Shares is acquired (assuming no valid exercise of the Company's warrants in the period), this will result in an amount of £25.6 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 12 May 2015, who may participate by tendering all or a proportion of their pro rata entitlement of Ordinary Shares at 1 for 15 at 52p per share. Warrantholders who wish to participate in the Tender Offer will be required to exercise their warrants by 24 April 2015 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 Annual General Meeting is passed.

Copies of the circular, tender offer forms, the 2014 Annual Report 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) and may also be obtained from the Company Secretary.

Enquiries

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

Anton Bilton

Glyn Hirsch

Novella Communications Tel: +44 (0) 203 151 7008

Tim Robertson

Ben Heath

N+1 Singer Tel: +44 (0) 20 7496 3000

Corporate Finance - James Maxwell

Sales - Alan Geeves / James Waterlow

Barclays Bank Plc

Tom Boardman / Tom Macdonald Tel: +44 (0) 20 7623 2323

Kinmont

Jonathan Gray Tel: + 44 (0) 207 087 9100

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 £355 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.5 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

Kinmont Limited is advising Raven Russia in relation to the Tender Offer and no one else and will not be responsible to anyone other than Raven Russia for providing the protections afforded to customers of Kinmont Limited nor for providing advice in relation to the Tender Offer.