RAVEN RUSSIA LIMITED (the "Company")

Notification of Significant Holdings

In accordance with the Transparency Obligations Directive (Disclosure and Transparency Rules) Instrument 2006, the following information falls to be disclosed:

The Company was notified on 14 May that subsidiaries of the Raven Mount Group Plc hold 13,035,054 Ordinary Shares in the Company representing 3.01% of the Company's current issued capital (with voting rights).

Enquiries:

Numis Securities Limited:

Nick Westlake

Nicholas Harland

Tel: +44 (0) 207 260 1000

Bell Pottinger:

Charles Cook    

Mike Davies

Tel: +44 (0) 207 861 3232

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