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Information regarding reclaimed investment VAT in Russia

February 8, 2011 - London

As previously communicated, Ruric filed a claim for the return of VAT with the Russian authorities in October 2010. The total amount was in excess of 130 million Rules and as such the process took several months to complete.

We are pleased to announce that Ruric has been officially informed that the refund has been approved. The full amount is expected to be transferred to Ruric's accounts within six weeks. At current exchange rate the cash injection amounts to approximately 28 MSEK.

The payment does not have any effect on the income statement.

Russian Real Estate Investment Company AB (publ)

For more information, please contact:
Craig Anderson, CEO
Phone                                +7 812 703 35 50 (St. Petersburg)
Phone                                +46 8 509 00 100 (Stockholm)


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 on First North is Erik Penser Bankaktiebolag


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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Russian Real Estate Investment Company via Thomson Reuters ONE


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