London, May 14, 2012 - PIK Group ("PIK" or the “Group”), a leading Russian residential developer, announces that it has been assigned an individual A credit rating by the National Rating Agency (NRA), one of the leading ratings agencies in Russia. NRA is officially accredited by the Russian Ministry of Finance, the Central Bank of Russia, Vnesheconombank, MICEX, the National Stock Market Association and a number of other credit and finance organizations.

NRA analysts commented that the assigned rating reflects PIK’s leadership position of the affordable housing market segment, as well as improved operational and financial results for 2011, high standards of corporate governance and transparency, the effectiveness of Group management and the overall strategic importance of the Group.

Andrey Rodionov, Chief Financial Officer of PIK Group commented: “We are proud to be assigned this high credit rating by the National Rating Agency. We achieved successful results last year and managed a complex debt restructuring, putting the business on a more sound financial footing. We plan to continue our growth, as well as our leadership of the affordable housing segment, and we look forward to 2012 with greater confidence.”

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in  mass market residential property sector completing over 180 000 apartments of affordable housing across the country. The Group  has  a substantial diversified land bank of net selling area over 6.9 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation’s strategically important companies. For more information please visit: http://www.pik-group.com

Enquiries:

PIK Group
Investors
Viktor Szalkay                                                  Tel: +7 495 505 97 33 ext. 1358 / 1315

Media
Natalia Ivanova                                                  Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson                                    Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia

(LONDON, April 27 2012) - PIK (LSE: PIK), a leading Russian residential developer, today announces its consolidated IFRS financial results for 12 months ended December 31 2011.

Financial summary:

• Total revenues were up by 20.7% to RUB46.0 billion (2010: RUB38.1 billion)

• Revenue from sales of apartments grew by 30.0% to RUB35.3 billion (2010: RUB27.1 billion)

• Earnings before interest, taxes, depreciation and amortization (EBITDA) reached RUB11.7 billion (2010: loss of RUB2.1 billion)

• Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) from development activities  were at RUB5.9 billion (2010: loss of RUB 0.4 billion))

• Net income recovered to RUB4.8 billion (2010: net loss of RUB6.0 billion)

• Total assets as of December 31 2011 increased to RUB128.8 billion (2010: RUB119.6 billion)

• Net debt as of December 31 2011 amounted to RUB42.8 billion (2010: RUB 37.2 billion)

Operational summary:

• Total gross cash collections increased by over 30% to RUB52.1billion (FY10: RUB 39.9 billion);

• Cash collections from sales of apartments surged 49.5% to RUB34.9billion (FY10: RUB23.4billion) driven mainly by higher volume sales.

• Cash collections from construction services and others remained stable at RUB12.9billion (FY10:RUB12.3billion)

• New sales contracts to customers showed growth to 510,000 sq. meters due to the wider range of available PIK projects

• PIK launched 41 new projects (FY10: 25) of which 26 are in its core Moscow Metropolitan Area (MMA);

• 4Q11 sales figures showed a 30% year-on-year increase, reinforcing management’s confidence that growth in PIK’s segment of the market is intact and based upon solid and sustainable fundamentals;

• 4Q11 mortgage backed sales stayed at 30% of total sales;

Property portfolio valuation summary:

• Total net selling area amounted to approximately 6.9 million square meters (10.1million as of June 30 2011), of which 99% is represented by the residential area

• The market value of the property portfolio stayed flat at US$2.7 billion
• Market portfolio value per share was at $5.5 (June 30 2011: US$5.5)
• Our top 10 key projects accounted for 61.8% of total market value (June 30 2011: 65.8%)

Enquiries:

Investors

PIK Group                                                      Tel: +7 495 505 97 33 ext. 1358 / 1315

Viktor Szalkay

Media

Natalia Ivanova                                                Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson                                  Tel: +44 20 7638 9571

Tom Baldock

Priscilla Garcia

London, April 23  2012 - PIK Group, a leading Russian real estate developer focusing on large-scale residential projects within the Moscow Metropolitan Area and selected regions in Russia, today announces that it has completed the sale of a land plot in Korolyov, Moscow Region. The sale to Globus, a large private German retailer, was agreed at a price of 755 million rubles.

Located on a former industrial area in Korolyov, the land totals 11.2 hectare where Globus is planning to build a hypermarket.

Globus is a private German international retail chain. The company has hypermarkets in Germany, Czech Republic and Russia. Currently, Globus is actively developing its presence in Russia with 5 hypermarkets in different cities.

Commenting, Artem Eyramdzhants, First Vice President of PIK Group said:

"We are pleased to have concluded the sale of this non-core project, which is not included in the Group's balance sheet land bank valuation. Its disposal is in line with the company's strategy to consider selling projects that are not a priority for its own development."

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 180 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area over 10 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation's strategically important companies. For more information please visit: http://www.pik-group.com

Enquiries:

The residential scheme will consist of 200,000 square metres with a total investment of 12 billion rubles. PIK Group will provide production facilities to the investment, but will not allocate financial resources. The Group’s share in the first phase will be of 63,000 square metres, and in the second phase will be of 40,000 square metres, the Company plans to start construction in the fourth quarter of 2012.

The new district called Butovo Park II is located in Drozhzhino, Leninsky area, the south part of the Moscow region. The Leninsky area is an environmentally friendly part of the Moscow region and a fast growing district. Currently, there are 20 industrial enterprises, five research and scientific institutes, a number of agricultural enterprises, various cultural and social objects, which provide jobs and a comfortable living environment for the district’s residents.

The project is located on 22 hectare of land and will comprise of 15 residential buildings, including the modernized KOPE-M and P-3MK residential housing buildings. These are manufactured by DSK-2 and DSK-3 plants, which are integrated divisions of PIK Group. The renovated building series ensure more comfortable living and meet the latest safety regulations.

Butovo Park II residential district will include the secondary school, a kindergarten, parking spaces, a multifunctional centre, commercial and retail infrastructure. The district will have its own walking areas with green area.

(LONDON, April 17 2012) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, is pleased to publish today a trading update for the three months ended March 31, 2012 based upon management accounts.

1Q2012 key highlights:

• Total gross cash collections up by 55% to RUB12.5billion (1Q11: RUB 8.1 billion)

– cash collections from sale of apartments surged 89% to RUB10.0billion (1Q11: RUB5.3billion) driven mostly by sales volume and price growth.

– cash collections from construction services increased by 19% to RUB2.3billion (1Q11:RUB1.9billion)

• New sales contracts to customers grew 58% to 128,000 square meters, driven by underlying demand for affordable housing;
• Average selling prices for PIK’s mass market properties under construction continued to grow and reached RUB121 thousand per square meter in Moscow (+9% yoy), RUB74 thousand per square meter in Moscow region (+10.4% yoy);
• PIK launched 9 new projects (1Q11: 8) of which 8 were in its core Moscow Metropolitan Area (MMA);
• 1Q12 sales figures showed a 67% year-on-year increase; this good start to the year gives management confidence that PIK’s segment of the market is intact and that further growth can be expected in 2012
• 1Q12 mortgage backed sales since 3Q11 consolidated at around 28.5% of total sales;

Enquiries:
Investors
PIK Group                               Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay

Media
Natalia Ivanova                         Tel: +7 495 505 97 33 ext. 1010 /1014

London, April 3, 2012 - OJSC PIK Group ("PIK Group" or "the Company)  announces that it has received a notification from Holborner Services Limited ("Holborner") informing the Company  that on 29 March 2012, a Cypriot court issued an order on discharging the injunction against Holborner dated September 30,  2011 following an ex parte application filed by Forienst Investment Limited ("Forienst").

The injunction concerned an 8.29% stake in OSJC PIK ("PIK") owned by Holborner and in relation to which Forienst has a call option right (exercisable during a two year period from 16 March 2012).

The said injunction ceased to be in force starting from 29 March 2012.

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in  mass market residential property sector completing over 180 000 apartments of affordable housing across the country. The Group  has  a substantial diversified land bank of net selling area over 10 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation’s strategically important companies. For more information please visit: http://www.pik-group.com

Enquiries:

Investors

PIK Group                                                          Tel: +7 495 505 97 33 ext. 1358 / 1315

Viktor Szalkay

Media

Natalia Ivanova                                                  Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson                                    Tel: +44 20 7638 9571

Tom Baldock

Priscilla Garcia

The Moscow City Government formed the rating of management companies in close collaboration with industrial, control and supervisory authorities. The best management companies were selected basing on the results of inspections by Moscow Residential Inspection (Moszhilinspektsiya) and Union of Administrative and Technical Inspections in compliance with accuracy of activities information discloser provided by selected management companies.

PIK-Comfort ranked top 35 management companies due to its professionalism and full-hearted team work.

Top-list of private management companies was published in Komsomolskaya Pravda newspaper, N44, 27.03.2012, p. 14.

PIK Group announces about modernization of its popular prefabricated residential panel KOPE building series.  The renovation impacted elevator halls and staircases to ensure more comfortable and safe living conditions for our customers.

Building lobbies are now located on one level with elevator halls so disabled people will no longer need to use stair lifts.  The new stairs and elevator halls have been enlarged for better emergency access and the stairways have new safe zones for disabled people. The hand-rails are now installed on both sides of the stairs to meet all the accessibility requirements. The staircase is broaden to 1.20 m to create the necessary width between hand-rails.

The modernized  KOPE series also uses modern lighting system for common zones using energy saving lamps with movement detecting sensors thus 3-4 times reducing the electricity consumption.

PIK Group has launched renovated KOPE-M-PARUS series in its residential  project Yaroslavsky, bld. 22, 23 in Mytischi, Moscow Region. The buildings have panoramic glazing on the balconies, large rooms with bow windows. Each apartment has adjustable radiators, individual mains supply meters and water flow meters, plastic pipes and copper wiring.

London, March 20, 2012 PIK Group, a leading Russian real estate developer,  today announces that its Board of Directors approved certain amendments to its Sberbank credit facilities.

As of early March 2012, the Group’s total debt outstanding amounted to RUB45.1bn (equivalent to approx. US$1.5bn), of which Sberbank debt exposure onto PIK amounted to RUB28.6bn (equivalent to about 60% of the total debt).

According to the initial debt repayment schedule under Sberbank credit facilities, RUB10.4bn was due for debt repayment during 2012 by equal quarterly installments.

Given recent arrangements between the counterparties, Sberbank has agreed to amend the repayment schedule reducing amounts due in 2012 down to RUB1.8bn. The difference of RUB8.6bn is proportionally extended to 2013-2014 periods.

Interest rate remains unchanged together with underlying collateral base, which is constituted of the Group’s assets and the government guarantees issued by the Ministry of Finance of the Russian Federation.

In addition to the above, financial covenants under the above credit facilities are revisited by the bank as well to accommodate the Group needs.

Enquiries:

PIK Group
Investors                                                       Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay

Media
Natalia Ivanova                                              Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson                                 Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia

Moscow, March 11, 2012. Last week PIK Group took part in MIPIM, the largest international real estate investment exhibition, annually organized in Cannes, France. The President of PIK Group Pavel Poselenov personally headed the delegation.

PIK Group presented two new projects of large-scale residential developments at the Stand of Moscow Government and a number of projects at the Stand of Moscow Region Government.

Moscow Government Stand presented a consolidated exposition of projects, demonstrating the new approach to Moscow City development. During the exhibition the government officials and the leading developers held a number of round tables and panel discussions. The Vice-President, Director of Moscow Direction Tatyana Tikhonova headed PIK Group representation at the  Moscow Government Stand.

PIK Group presented a new project of complex residential development City Quarters, located in the heart of new business Moscow area, near the World Trade Center, The White House, the largest exhibition complex and the Moscow-City business district.

City Quarters project is one of the best examples of industrial territory renovation plan in Moscow historical center. The old factory with catching area of 6.83 ha is replaced by a contemporary residential district, naturally integrated into the city environment.

City Quarters is a fully integrated residential district. The development plan includes a high school, a kindergarten, an underground multi-level parking, retail and commercial infrastructure

and other necessary services. All the buildings are connected by landscaped pedestrian area. Within a walking distance from City Quarters there is a recreational zone with a park and a pond for all-year-round leisure activities.

Another project, presented by PIK Group at the exhibition, is a residential complex Grand Kuskovo, located in the east of Moscow near Novogireevo Metro station in the close proximity to Kuskovo historical mansion and park.

The project includes the district size residential complex of modern buildings P-3MK, a school, kindergartens, multi-level parkings, social and commercial infrastructure elements. PIK Group will construct all the necessary transport facilities and engineering infrastructure, including the construction of by-pass road parallel to Perovskaya Street.

At the Stand of Moscow Region Government PIK Group presented a number of its large-scale  projects, including Red Hills (southeast from Moscow), Kommunarka (south from Moscow), Novokurkino and Levoberezhny (northwest from Moscow). PIK Group demonstrated its experience and capabilities in large-scale mass-market residential complex development. The Vice-President, Director of Moscow Region Direction Daromir Obukhanich, commented Group’s strategic view at Vedomosti conference: “The future of residential market in Moscow region is a complex development of territories. The residents require the quality surrounding infrastructure with kindergartens, schools, medical clinics, retail stores and comfortable environment. The goal of PIK Group is to build fully developed contemporary residential districts for comfortable living”.

London, March 1,  2012 - PIK Group, a leading Russian real estate developer focusing on large scale residential projects within the Moscow Metropolitan Area and selected Russian regions, today announces it has initiated construction of its residential project Mironovsky, located in the east of Moscow close to Izmailovsky park and the metro stations Semenovskaya and Partizanskaya.

Initially, the development rights for Mironovsky project were acquired back in 2007. PIK Group announced last year its plans to begin the construction in 2012.

The residential scheme will be a total of 30,000 square metres on 2.6 hectares of land. It will include two modern prefabricated complex buildings and an underground parking as well as a kindergarten with a swimming pool and a recreation area. PIK Group will construct the necessary transport facilities and engineering infrastructure, including the reconstruction of Mironovskaya Street.

Artem Eyramdzhants, the First Vice-president of PIK Group commented: “We are sure this project will be a success. It is a smart concept, the KOPE-M PARUS complex buildings are well known amongst our clients, the complex has a convenient location with good public transport links and green areas. All of these elements make the project attractive to its potential residents. Moreover, we are planning to offer our mortgage programmes available through different banks which will provide to our customers more opportunities to buy an apartment”.

The buildings of this project is expected to be completed in 2013.

- ENDS-

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in  mass market residential property sector completing over 180 000 apartments of affordable housing across the country. The Group  has  a substantial diversified land bank of net selling area over 10 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation’s strategically important companies. For more information please visit: http://www.pik-group.com

Enquiries:

A new computer classroom is PIK Group initiative, fully equipped by the Company. Now the kindergarten has everything for the training and education: seven computers, a laptop, multi-media projector and a large screen.

A perfect combination of advanced technologies with traditional methods of education helps children to solve different cognitive and creative tasks based on audio-visual facilitators and games. We hope that the new computer class will create comfortable conditions for creativeness and investigative activities.

Kindergarten Aistenok was built and fully equipped by PIK Group. It was opened September 1, 2010. Aistenok hosts 150 children in eight classes. There are all the facilities in the kindergarten: a fully equipped gym with the necessary sports equipment, children bedrooms and a cozy game room, winter garden, swimming pool designed for training children from nursery age.

London, February 9, 2012 – PIK Group, a leading Russian real estate developer focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions, has launched an interregional sales programme for its customers. From February 1, 2012 customers of PIK Group sales offices across the country are able to buy an apartment, commercial space, or a parking lot in any region of its presence.

In addition to the Moscow Metropolitan Area, PIK Group currently is present with sales offices in other Russia’s cities: Perm, Rostov-on-Don, Kaluga, Obninsk, Nizhniy Novgorod, Novorossiysk, Kaliningrad, Yaroslavl, Omsk and Taganrog. Recently, PIK Group strategically restructured its sales offices in important cities such as Chelyabinsk and Surgut.

Artem Eyramdzhants, First Vice-president of PIK Group, said: “The interregional sales programme is an additional convenience and reliable way for our customers to buy an apartment or commercial space in any of our projects located in any region where we are present without visiting it. It is an important step forward to provide a better service to our customers as well as broadening our sales possibilities. We believe this programme will be in high-demand on the market and we plan to continue our work to improve our products and services.”

- ENDS -

About PIK-Group

PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 180 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area over 10 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation’s strategically important companies. For more information please visit: http://www.pik-group.com

Enquiries:

(MOSCOW, January 23 2012) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, is pleased to publish today a trading update for twelve months ended December 31, 2011 based upon management accounts.

2011 Key highlights:

• Total gross cash collections increased by over 30% to RUB52.1billion (FY10: RUB 39.9 billion);
• Cash collections from sale of apartments surged 49.5% to RUB34.9billion (FY10: RUB23.4billion) driven mainly by higher volume sales.
• Cash collections from construction services remained stable at RUB12.9billion (FY10:RUB12.3billion)
• New sales contracts to customers showed growth to 510,000 sq. meters due to wider range of available projects by PIK;
• PIK launched 41 new projects (FY10: 25) of which 26 in its core Moscow Metropolitan Area (MMA);
• 4Q11 sales figures showed a 30% year-on-year increase, reinforcing management’s confidence that growth in PIK’s segment of the market is intact and based upon solid and sustainable fundamentals;
• 4Q11 mortgage backed sales continued to grow, consolidating at approximately 30% of total sales;

Enquiries:
Investors
PIK Group                                                        Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay

Media
Natalia Ivanova                                                 Tel: +7 495 505 97 33 ext. 1010 /1014

Citigate Dewe Rogerson                                    Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia

A new three-story kindergarten with total area of 2,389 sq. m hosts 125 children in 6 classes. It is fully built and equipped by PIK Group. The building is constructed using the most advanced, certified and environmentally friendly materials.

There are swimming pool, athletic gym equipped with all necessary sports equipment, art studio, large classrooms, homelike bedrooms and medical office with insulators. The adjacent territory is a well-developed playground.

The new kindergarten is a part of integrated development of Yubileyniy district made by PIK Group  in Khimki. PIK plans to construct about 260 thousand square meters of housing which is represented by the modern industrial houses series P3M, KOPE-M-PARUS and KOPE-Tower. The project comprises modern buildings with comfortable apartments as well as shopping center, hospitals, two kindergartens, school and two-level underground parking.