NOTIFICATION OF Q1 2017 RESULTS

AFI DEVELOPMENT PLC("AFI DEVELOPMENT" OR "THE COMPANY")

NOTIFICATION OF Q1 2017 RESULTS

LONDON, 18 May, 2017 - AFI Development will publish its financial results for the three months ended 31 March 2017 on 30 May 2017.

A conference call to discuss the results will be held on 31 May 2017.

Date: Wednesday, 31 May 2017

Time: 15.00 UK (17.00 Moscow)

Dial-in Tel: International: +44 (0)20 3003 2666

UK toll free: 0808 109 0700

US toll-free: 1 866 966 5335

Russia toll-free: 8 10 8002 4902044 

Password: AFI

The Q1 2017 investor presentation will be published on the Company's website: http://www.afi-development.com/en/investor-relations/reports-presentations at 11.00 UK (13.00 Moscow) on 31 May 2017.

- ENDS -

For further information, please contact:

AFI Development, Moscow +7 495 796 9988

Ilya Kutnov

Citigate Dewe Rogerson, London +44 20 7638 9571

David Westover

Sandra Novakov

About AFI Development

Established in 2001, AFI Development is one of the leading real estate development companies operating in Russia. AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction and quality of customer service.

AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company's existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development's strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favourable return.

AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighborhoods and transforming congested and underdeveloped areas into thriving new communities. The Company's long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.