Change in Benchmark

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN RUSSIAN SECURITIES PLC

CHANGE IN BENCHMARK

The Board of JPMorgan Russian Securities plc announces that with effect from 1st November 2016 the Company's benchmark will be changed to the RTS Index in sterling terms (RTS). The Company's previous benchmark was the MSCI Russia 10/40 Equity Indices Index in sterling terms.

Having consulted with major shareholders, the Board has decided that the RTS Index is a more appropriate benchmark as it includes a wider range of stocks, more accurately reflecting the universe in which the Company invests. This is particularly relevant as the previous benchmark, MSCI Russia 10/40 Equity Indices Index in sterling terms, consisted of a significantly narrower range of companies than that offered by the market in Russia and its former states.

28th October 2016

For further information, please contact:

Paul Winship

For and on behalf of

JPMorgan Funds Limited - Secretary

020 7742 4000