Holding(s) in Company

19 April 2011

MirLand Development Corporation plc

("MirLand" or the "Company")

Notification of Interests

MirLand, one of Russia's leading residential and commercial property developers, announces that it received notification on 17 April 2011 that on 15 April 2011 Darban Investments Ltd ("Darban") purchased 264,800 ordinary shares in MirLand at £2.74 per ordinary share. Following this transaction, Darban is interested in 14,724,466 ordinary shares in the Company, representing approximately 14.2% of the Company's entire issued share capital.

Mr Eyal Fishman, a non-executive director of the Company, holds a 15.8% equity interest in two companies which, through various intermediate companies hold an effective interest of approximately 73% of Jerusalem Economic Corporation Ltd ("JEC") which holds an interest in approximately 30% of the Company.

Mr Eliezer Fishman, a non-executive director of the Company, and his wife Tova Fishman together hold approximately 53% of the intermediate companies referred to above and which hold an effective interest of approximately 73% of JEC.

Darban, together with JEC and Industrial Buildings Corporation Ltd (a company controlled by Mr Eliezer Fishman), effectively hold an interest in approximately 81% of the Company's entire issued share capital.

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