Clarification

In view of the rumours that flourish around Ruric and the public
offer to the bond holders, there are the Company wishes to give the
following clarifications.

The book value of Ruric's real estate properties amounted to SEK
1,097 m as per 30 June, 2009 (1,330 m including the participations in
Fontanka 57 and the land plot in Strelna). The book value is based on
valuations made by external valuations that Ruric regularly obtain
from independent surveyors, such as Knight Frank and Zinovieff
Chartered Surveyors. The external valuations are consistent with the
Board's assessment of the book value. During the third quarter there
are several signs of a slight improvement in the market conditions,
which is also supported by additional valuation carried out during
that period.

The prospectus regarding the public offer to the bondholders,
including terms and conditions, will, preliminarily, be announced on
22 October. In order to give a full view of the development in the
Company in conjunction with the offer, the interim report per 30
September will, as previously announced, be published in advance on
the 29 October.

"One of the main reasons for the suggested offer to the bond holders
is to be given time to secure and realise the potential that the
Board believes exist in the portfolio." says Nils Nilsson, Chairman
of the Board.

Russian Real Estate Investment Company AB (publ)


For additional information
Nils Nilsson, Chairman of the Board of directors
Phone                 +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)
email:                  craig@ruric.com
web:                    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.