Bond Credit Rating Update

26 June 2013

MirLand Development Corporation plc

("MirLand" or the "Company")

Midroog reconfirms ilBaa1/Stable credit rating for Mirland's Series A, B and D Bonds

MirLand, one of Russia's leading residential and commercial property developers, announces that Midroog, a subsidiary of Moody's Investor Services, the credit rating agency, has reconfirmed the "ilBaa1/Stable" credit rating for Mirland's Series A, B and D Bonds on a local Israeli scale. The Series C Bonds are not rated by Midroog. In addition, Midroog has provided the same rating for any issue of a new bond series of up to NIS 200 million (approximately USD 55 million). 

For further information, please visit www.mirland-development.com, or contact: