IMPLEMENTATION OF AN ADDITIONAL CONDITION FOR COMPLETION OF RURIC'S OFFER ON EXCHANGE / ACQUISITION OF BONDS ISSUED BY RURIC AND PUBLICATION OF THE PROSPECTUS FOR THIS OFFER

This press release neither has nor will be, directly or indirectly,
distributed or announced in the United States, Australia, Canada,
Japan, New Zealand or South Africa. The Offer is not submitted to
(and acceptance will not be permitted from) persons in these
countries or persons in any other country where participation would
require additional documentation, registration or measures other than
those pursuant to Swedish law.

In the press release dated 6 October 2009, Russian Real Estate
Investment Company AB (publ) ("Ruric" or the "Company") announced a
public offer to exchange / acquire all bonds issued by the Company
(the "Offer"). The prospectus regarding the Offer, which today has
been approved by and registered with the Swedish Financial
Supervisory Authority, will be sent out to all directly-registered
bond holders and be available at the Swedish Financial Supervisory
Authority at Brunnsgatan 3, 103 97 Stockholm, and on its website
(www.fi.se). In addition to that, the prospectus will be available at
the Company at Hovslagargatan 5 B, 111 48 Stockholm, and on its
website (www.ruric.com), as well as at HQ Bank at Norrlandsgatan 15,
103 71 Stockholm, and on its website (www.hq.se).

To avoid the risk that the Company is obliged to complete the Offer
upon fulfilment of the condition regarding the 95 per cent level of
acceptances even if the terms and conditions for the existing bonds
cannot be amended as proposed by the Company, and the Company
therefore would not be able to provide security for the new bonds and
convertibles without violating the terms and conditions for the
existing bonds, the Company has decided to add an additional
condition for completion of the Offer. This means that the Offer also
will be made conditional upon consent being given to amend the terms
and conditions by holders of bonds issued under the Company's Bond
Loan No. 2 representing not less than 80 per cent of the outstanding
loan amount and holders of bonds issued under the Company's Bond Loan
No. 3 representing not less than three-fourths of the votes cast, in
accordance with the proposal by the board of directors. All
conditions for completion of the Offer and the procedure of amending
the terms and conditions of the existing bonds are described in
detail in the prospectus.

Since the Company's interim report for the third quarter of 2009 will
be published during the acceptance period of the Offer, a
supplementary prospectus (Sw. tilläggsprospekt) will be issued. The
supplementary prospectus will be sent to the bond holders and be made
available as set out above for the prospectus.
Russian Real Estate Investment Company AB (publ)

For further information
Nils Nilsson, Chairman of the Board of Directors
Tel                       +41 22 534 95 42
E-mail                 nils@ruric.com

Craig Anderson, CEO
Phone                 +7 812 703 35 50                          (St.
Petersburg)
Phone                 +46 8 509 00 100
(Stockholm)
E-mail                 craig@ruric.com
web                     http://www.ruric.com

ABOUT RURIC
Ruric's business concept is to acquire, develop, manage, let and
divest real estate in St Petersburg, Russia, with a focus on
commercial premises of the highest quality in the best locations that
can thereby contribute positively to the business of the tenants. The
company has the vision of becoming a leading real estate company in
central St Petersburg.

The strategy is to identify real estate with great potential in the
central parts of St Petersburg, create suitable acquisition
structures and acquire at the best price. After renovations,
commercial premises of the highest class are offered to tenants that
are looking for the best possible premises in the best locations and
are willing to pay for it.

Ruric's Certified Advisor at First North is Erik Penser
Bankaktiebolag