Ruric's Board of Directors comments on the company's strategic direction

Press release 25-11-2011

Ruric's new Board of Directors, elected on the extraordinary shareholders'
meeting October 10, 2011, has used the past weeks to carefully study and analyze
the company's status and prospects. This work, and the Board's agenda for the
coming months, can be summarized as follows:

-         Ruric's overall strategy remains in place. Based on the information
presently available, the Board sees no reason for major changes to the strategy
or direction of the company.

-         A full scale management overview has been initiated and is ongoing.
Ruric has been through difficult times, and the Board wishes to arrive at a
complete understanding of the company's status and possible opportunities going
forward, as we are initiating the work of developing the company and its
projects.

-         The company's financial situation is a specific issue where the
current bond financing is restricting Ruric's maneuverability. The Board is
determined to find a viable solution to this challenge.

-         The ownership of Apraksin Dvor remains challenged, and this matter
shall be resolutely addressed. Ruric's beneficial ownership of all its assets is
continuously being reinforced. The Board will use all tools at its disposal to
settle the outstanding issues.

Going forward, a clear goal for the Board of Directors is to minimize any
uncertainties regarding the company's possibilities to generate shareholder
value. The Board will use the full set of alternatives, such as selling assets,
refinancing and finding partners for particular projects, in order to protect
and enhance the value of the company.

The Board believes that the new shareholder Gano Services, with its local
knowledge of Ruric's principal market and its opportunities as well as
challenges, will bring important contributions to that process. All members of
the board have experience in dealing with the kind of challenges that Ruric
currently faces.

In conjunction with the preliminary year-end report, the Board wishes to revert
with its findings and connected measures. We are convinced that we can find
sound and reasonable solutions to each issue and that Ruric will develop in a
positive direction.

Russian Real Estate Investment Company AB (publ)

For additional information
Lennart Dahlgren, Chairman of the Board
email                   lennart@ruric.com
web                    www.ruric.com

ABOUT RURIC
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 at First North is Erik Penser Bankaktiebolag.

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