Extension of Shelf Prospectus' Term

24 March 2014

MirLand Development Corporation plc

("MirLand" or the "Company")

Extension of Shelf Prospectus' Term

MirLand, one of Russia's leading residential and commercial property developers, is pleased to announce that the Israeli Securities Authority has provided the Company with notification of its decision to extend the term for the issuance of securities based on the Company's shelf prospectus, dated 30 May 2012 and the amendment dated 18 July 2013, for an additional 12 months through to 30 May 2015.

The Company confirms that it has no current plans to issue any securities pursuant to this shelf prospectus.

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