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 28 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 85p per share by way of a tender offer ("the Tender Offer")

2013 Annual Report and Notice of Annual General Meeting

Raven Russia is today posting a circular to its shareholders containing full details of the Tender Offer, the 2013 Annual Report and Notice of Annual General Meeting convened for 12 noon on Tuesday 20 May 2014.

On 10 March 2014, the Board of Raven Russia announced in its results for the year ended 31 December 2013, that the Company intended to offer to purchase 1 in every 28 Ordinary Shares by way of a tender offer at a price of 85p per share. 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 26,910,175 (assuming no valid exercise of the Company's warrants).

If the maximum number of 26,910,175 Ordinary Shares is acquired (assuming no valid exercise of the Company's warrants in the period), this will result in an amount of £22.9 million being paid by the Company to its shareholders. It is intended the Ordinary Shares purchased under the Tender Offer will be held as treasury shares.

The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6pm on Monday 19 May 2014, who may participate by tendering all or a proportion of their holding of Ordinary Shares at 85p per share. Warrantholders who wish to participate in the Tender Offer will be required to exercise their warrants by 2 May 2014 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, notice of meeting 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

Kinmont

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

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.

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 £490 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.4 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