RURIC INITIATES ORGANISATIONAL CHANGE

Press release 06-03-2012

Move of CFO office to St Petersburg, new CFO appointed.

In a move to increase the focus on financial control of operations, Management
of Ruric has decided to move the office of the CFO to St Petersburg. This will
ensure the successful implementation of the new financial management systems as
well as new more disciplined budgetary processes.

In this context Ruric regrettably has had to accept the resignation of Mr Anders
Larsson, the current CFO, who for family reasons will not be able to make the
move to Russia. He will of course be fully accessible during a transition period
to introduce the new CFO into the Company.

We are pleased to announce that effective immediately Mr Denis Savinkin will
take up the position as new CFO of Ruric. Mr Savinkin is an honours graduate in
Economics and Finance from the St Petersburg State University with a background
as chartered certified accountant with PricewaterhouseCoopers. His most recent
position has been as CFO of the consumer products company Bravo Premium and as
deputy CFO of the London Stock Exchange listed LSR Group. Mr Savinkin is 32
years old, native from St Petersburg and speaks English fluently.

Mr Adam Fischer, Ruric´s CEO, in a comment: "I am very pleased of being able to
announce such a smooth transition of the CFO from Stockholm to St Petersburg. We
will certainly miss Anders´ expertise, but I know that he is the first one to
acknowledge the need for the move to St Petersburg. I am delighted that Denis
Savinkin has accepted the position and am convinced that he will make a
significant contribution to Ruric´s future within a very short period of time.
We wish him a warm welcome aboard."

Russian Real Estate Investment Company AB (publ)

For additional information
Adam Fischer, CEO
Phone                 [phone]
email                   [e-mail]
web                    www.ruric.com

ABOUT RURIC
Ruric´s business strategy is to manage real estate in the centre of St
Petersburg. In addition Ruric shall also acquire real estate and implement value
creating additional investments at attractive conditions. Through professional
management and good tenant relations spaces of high class are offered to tenants
looking for possible spaces in central locations willing to pay for it. Ruric
offers primarily office- and retail premises.

Ruric´s Certified Advisor at First North is Erik Penser Bankaktiebolag.

Press Release:
http://hugin.info/141656/R/1591648/500300.pdf

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Source: Russian Real Estate Investment Company via Thomson Reuters ONE

[HUG#1591648]

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