8 November 2017

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

Director's Dealings

Pursuant to Disclosure Guidance and Transparency Rule 3.1.2-A, the following information falls to be disclosed:

The Company was notified on 6 November 2017 that Colin Smith, Chief Operating Officer of the Company; sold 40,434 cumulative convertible redeemable preference shares of no par value each in the capital of the Company ("Convertible Preference Shares") at a price of 123.66p per share, and sold 298,449 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 50.26p per share. The Lorier Retirement Annuity Trust a trust of which Colin Smith is trustee and beneficially interested, exercised 7,385 warrants to subscribe for Ordinary Shares.

Following these transactions Colin Smith and his immediate family have a beneficial interest in 978,031 Ordinary Shares being 0.1481% of the total Ordinary Shares in issue, 146,066 Convertible Preference Shares being 0.0737% of the total Convertible Preference Shares in issue and zero warrants.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.

Enquiries

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

Anton Bilton                                                                                       

Glyn Hirsch

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

Tim Robertson

Toby Andrews

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

Corporate Finance - James Maxwell / Liz Yong

Sales - Alan Geeves / James Waterlow

Ravenscroft                                                                                         Tel: + 44 (0) 1481 729100         

Semelia Hamon

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 International Stock Exchange ("TISE"). Its Convertible Preference Shares are admitted to the Official List of TISE and trading on the SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.6 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk, rising to 1.8 million square metres on completion of the recently announced Sever 2 acquisition, and 49,000 square metres of commercial office space in St Petersburg. For further information visit the Company's website: www.ravenrussia.com

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them