Moscow, 17 February 2014- PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, announces that in line with the Group’s debt reduction and optimization strategy it has paid down a total of RUB 3.8 billion of loans ahead of schedule.

The prepayments were made to the following lenders:

• Sberbank – partial prepayment of RUB 1.5 bn
• Nomos Bank – partial prepayment of RUB 1.1 bn
• Rosbank – full prepayment of US$35.5 million (equivalent to RUB 1.2 bn)

Following the prepayments PIK Group’s consolidated debt is equivalent to RUB 25.5 bn (including accrued interest).