Ruric lost four arbitration cases relating to Apraksin Yard

PRESS RELEASE / October 17, 2012

Ruric lost four arbitration cases relating to Apraksin Yard

October 15-16, 2012 Ruric lost four arbitration cases relating to Apraksin Yard.
Three  cases  refer  to  the  confirmation  of  the  title to the building 33 in
Apraksin  Yard, and compensation  of losses related  to delay in registration of
title to the buildings 15, 16, 33. The 4(th) case refers to Glavstroy who signed
the term sheet to buy out Ruiric's part but has not completed this action.
Ruric will continue its attempts to push the stated matters through the Russians
courts. The next resolutions on the issue are expected to be in 2013.


For additional information


Denis Savinkin, CFO
Email           dsavinkin@ruric.com


Web             www.ruric.com


ABOUT RURIC

Ruric's  business  strategy  is  to  manage  real  estate  in  the  center 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



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