Closed Period Announcement

JPMORGAN RUSSIAN SECURITIES PLC

(the 'Company')

Closed Period Notification

Information disclosed in accordance with MAR Article 19, paragraph 11

In accordance with the Market Abuse Regulation the Company announces that the Company is in a closed period, which will remain in place until the Company releases its annual financial results for the year ended 31st October 2018.

The Company is satisfied that any inside information which the Directors or the Company may have during the closed period has previously been notified to a Regulated Information Service. The Company is therefore not prohibited from repurchasing its own securities, or issuing new securities, during this closed period.

JPMorgan Funds Limited - Secretary

14 December 2018

For further information, please contact:

Paul Winship

JPMorgan Funds Limited 020 7742 4000