Scrip Dividend Circular

26 May 2016

Raven Russia Limited ("Raven Russia" or the "Company")

Scrip Dividend Circular

Further to the Company's announcement on 12 May 2016, the circular relating to the scrip dividend for Preference Shares for the period from 31 March 2016 to (but excluding) 30 June 2016 (the "Circular") is now available on the investors page of the Company's website, www.ravenrussia.com and is also available to view on the national storage mechanism (www.hemscott.com/nsm).  A letter notifying holders of Preference Shares of the presence of the Circular on the Company's website and how to access it has been posted today together with a form of election (or an entitlement advice to the extent shareholders have already elected to participate in the scrip dividend mandate scheme).

The last date for receipt of completed forms of election (in accordance with the terms thereof) will be 10 June 2016.

Enquiries

Raven Russia Limited                                                                           Tel: + 44 (0) 1481 712955

Anton Bilton                                                                                       

Glyn Hirsch

Novella Communications                                                                      Tel: +44 (0) 203 151 7008

Tim Robertson

Ben Heath

N+1 Singer                                                                                          Tel: +44 (0) 20 7496 3000  

Corporate Finance - James Maxwell / Liz Yong

Sales - Alan Geeves / James Waterlow

Barclays Bank Plc                                                                               Tel: +44 (0) 20 7623 2323

Tom Boardman / Tom Macdonald                                                         

Ravenscroft (CISE Sponsor)                                                                  Tel: + 44 (0) 1481 729100         

David McGall

About Raven Russia

Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange and admitted to the official list of the Channel Islands Securities Exchange Authority with a market capitalisation of approximately £225 million.  The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.5 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. For further information visit the Company's website: www.ravenrussia.com