Information regarding reclaimed investment VAT in Russia

As previously communicated, Ruric filed a claim for the return of VAT with the
Russian authorities in October 2010. The total amount was in excess of 130
million Rules and as such the process took several months to complete.

We are pleased to announce that Ruric has been officially informed that the
refund has been approved. The full amount is expected to be transferred to
Ruric's accounts within six weeks. At current exchange rate the cash injection
amounts to approximately 28 MSEK.

The payment does not have any effect on the income statement.

Russian Real Estate Investment Company AB (publ)

For more information, please contact:
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 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 on First North is Erik Penser Bankaktiebolag


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