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RAVEN RUSSIA LIMITED (the "Company") 

Preference Share Dividend

The Directors of the Company confirm that quarterly payment of the preference dividend in respect of the Preference Shares will be made, in accordance with their terms, on 31 December 2009 in respect of the period from the 30 September 2009 to (but excluding) 31 December 2009. The record date for the payment of the preference dividend for all Preference Shares is 27 November 2009 with an ex-dividend date of 25 November 2009.

As a result, the Preference Shares will be entitled to a gross dividend of 3.0247 pence per Preference Share.

A scrip dividend alternative (to be settled in Preference Shares) will also be available for all Preference Shares in respect of the preference dividend. Scrip dividend circulars will be sent to the holders of Preference Shares on or around 3 December 2009 and the last date for receipt of completed forms of election (in accordance with the terms thereof) will be 18 December 2009.

The Directors of the Company also confirm the 2010 preference dividend ("2010 Dividends") timetable as outlined below:

	March 2010	June 2010	September 2010	December 2010
Announcement of dividend	18 February	20 May	19 August	18 November
XD Date	24 February	26 May	25 August	24 November
Record date	26 February	28 May	27 August	26 November
Posting of circular	4 March	3 June	2 September	2 December
Final date for election	19 March	18 June	17 September	17 December
Dividend payment date	31 March	30 June	30 September	31 December

A scrip dividend alternative to be settled in Preference Shares will also be available for all Preference Shares in respect of the 2010 Dividends.

Enquiries

Raven Russia Limited
Anton Bilton / Glyn Hirsch	Tel: +44 (0)1481 712955
Bell Pottinger Corporate & Financial
Charles Cook / Dan de Belder	Tel:  +44 (0)20 7861 3232
Numis Securities Limited
Nick Westlake (NOMAD) / Rupert Krefting	Tel: +44 (0)20 7260 1000

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