PIK Group informs results of its extraordinary general meeting of Shareholders

(LONDON, September 12 2011)  – PIK Group (LSE: PIK) a leading Russian real estate developer focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions, held its extraordinary general meeting of Shareholders on September 12, 2011.

Approved resolutions are summarized below:

1.  To early terminate the authorities of all the members of the Board of Directors of PIK Group.

2.  To elect the following members of the Board of Directors of PIK Group:

Today the Board includes three independent directors.

- 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. In 2011 according to independent research made by UNIVERSUM  PIK-Group ranked top 100 of the best Russian employers. For more information please visit: http://www.pik-group.com

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