Moscow, 11 March 2014- PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, held its Extraordinary General Meeting on March 11, 2014. A quorum of shareholders was present at the EGM. The Company is announcing the following passed resolutions:

I. Terminate before the appointed time the authority of all members of the Board of Directors of PIK Group.

II. Elect the following Board of Directors of PIK Group:

1. Pavel A. Poselenov,
2. Marina A. Zinovina,
3. Dmitry V. Kanushkin,
4. Ilya A. Stepanishev,
5. Marina V. Grenberg,
6. Alexey A.Blanin,
7. Zumrud Kh. Rustamova,
8. Jean Pierre Saltiel,
9. Dmitry A. Pleskonos.