Agent has issued notice to convene Written Procedure and published Information Memorandum

Press Release
October 10, 2013


NOT  FOR DISTRIBUTION, DIRECTLY  OR INDIRECTLY, WITHIN  OR TO THE UNITED STATES,
AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR
IN  ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE
UNLAWFUL.


Agent has issued notice to convene Written Procedure and published Information
Memorandum

Pursuant  to a notice dated 10 October 2013 (the "Notice"), CorpNordic Sweden AB
(the  "Agent") has convened a procedure  in writing (the "Written Procedure") of
the  holders (the "Bondholders") of  the outstanding 10%/13% 2010/2014 bond loan
issued  by  Russian  Real  Estate  Investment  Company AB (publ) ("Ruric" or the
"Company")  with ISIN SE0003045848 and with  an outstanding total nominal amount
of  SEK 619,750,000 (the  "Bond Loan"),  divided into 6,197,500 individual bonds
(the "Bonds").

The  purpose of the Written  Procedure is to allow  Bondholders to vote on their
approval  of Ruric's proposal  to the Bondholders  (the "Proposal"). In summary,
Ruric  proposes  that  all  outstanding  Bonds  together with accrued but unpaid
interest  thereon (the  "Accrued Interest")  are exchanged,  in whole but not in
part, on a pro rata basis for the entire share capital of St Petersburg Property
Company  AB,  a  public  limited  liability  company incorporated in Sweden with
registration  number  556911-8275 ("SPPC"),  (i)  which through its subsidiaries
will  own certain properties and (ii) to which Ruric will issue 26,037,139 Class
B  shares of  Ruric (the  "New Shares")  representing 20 per  cent. of the total
share  capital of Ruric following  the issue of the  New Shares. After the Bonds
have  been  exchanged  as  set  out  above,  the  Bonds will be considered fully
redeemed and will be immediately cancelled.

In connection with the issue of the Notice to convene the Written Procedure, the
Agent  has also made available to the Bondholders an information memorandum (the
"Information  Memorandum"). The  Information Memorandum  sets out  in detail the
Proposal  and  the  execution  thereof  (the  "Restructuring").  The Information
Memorandum     can     be    accessed    through    the    Company's    website:
http://ruric.com/eng/investors/meetings/.

Ruric's  shareholders should be aware that the Restructuring is conditional upon
the  approval  of  the  Bondholders.  Ruric  will  issue  a  notice to attend an
extraordinary  general meeting of  the shareholders of  Ruric today, which is to
decide on whether the Restructuring is approved by Ruric's shareholders.


For additional information:

Tatiana Ottestig, CEO
Tel.: +7 (812) 309-78-95
E-mail: tottestig@ruric.com
Web:  www.ruric.com

About Ruric:

RURIC   AB   (Russian  Real  Estate  Investment  Company  AB  (publ)  (reg.  no.
556653-9705, Lindhagensgatan   94, SE-112 18 Stockholm))  is  a  public  limited
liability  company incorporated under  the laws of  Sweden, operating in the St.
Petersburg commercial real estate market since 2004.

The  company is  dealing with  the investment  projects coordination,  local and
national market approach consulting, valuation and property trust services. Real
estate portfolio construction and management services are also included.

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


[HUG#1734694]