Further information regarding Ruric's reorganization

The appointed administrator in Russian Real Estate Investment Company AB's
ongoing reorganization, Mr. Roland Sundqvist, wishes to provide following
information to Ruric's creditors:

·         The bond terms enclosed to the composition offer, Alternative no 1,
are being revised in order to improve the terms for future holders of the
proposed new bond. In principal the revision comprises an extension of the scope
of the property that is to be pledged to the effect that it also includes
Ruric's claims on its subsidiaries and/or their underlying companies. Also other
changes that strengthen the bond holders' rights will be considered. The revised
bond terms will be sent to the creditors during the next week (no later than 5
March 2010).

·         The previously stated time limit for accepting Alternative no 1, 5
March 2010, is extended with 12 days up until 17 March 2010.

·         It shall also be clarified that the composition offer implies that a
single creditor also may opt to choose Alternative no 1 for a part of his claim
and Alternative no 2 for the remaining part. A creditor who has not expressly
accepted the composition offer is by law considered to have opposed to it.

·         Creditors who already have accepted the composition offer and who do
not wish to change their position as regards the composition offer as such or
the apportionment between Alternative no 1 and Alternative no 2 do not need to
undertake any further actions with regard to the abovementioned information.

·         So far, written acceptance of the composition offer has been submitted
by 47 percent of the creditors corresponding to 53 percent of the total
outstanding amount. This means that there is sufficient acceptance of the
composition offer from creditors for submitting an application for compulsory
composition proceedings to the district court of Stockholm.

Russian Real Estate Investment Company AB (publ)

For further information

Roland Sundqvist, attorney/administrator, G Grönberg Advokatbyrå, phone +46
8 614 49 64, e-mail: roland.sundqvist@gronberg.se
<mailto:roland.sundqvist@gronberg.se>

Craig Anderson, CEO
Phone                 +7 812 703 35 50                         (St. Petersburg)
Phone                 +46 8 509 00 100                          (Stockholm)
e-mail                 craig@ruric.com <mailto:craig@ruric.com>

ABOUT RURIC
Ruric's business concept is to acquire, develop, manage, lease out and divest
real estate assets in St. Petersburg, Russia, offering top-quality commercial
premises in the best locations, thus contributing to the successful business
performance of its tenants. The company's vision is to become a leading real
estate company in central St. Petersburg.

The company's strategy is to identify high-potential real estate in the city
centre of St. Petersburg, structure appropriate deals and acquire at best price.
After renovation top-notch commercial space is offered to tenants seeking the
best possible premises and that are willing to pay for such premises.

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


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