LONDON, 09October 2009) - PIK (LSE: PIK), a leading Russian residential real estate developer, today announces the results of a revaluation of its properties, conducted by the independent appraiser CB Richard Ellis as at April 1 2009.

Investor conference call:

An investor conference call, hosted by Viktor Szalkay, Head of IR, Anna Kolonchina, CFO, and Artem Eyramdzhants, COO & First Vice President, will be held this morning at 11:15 am (Moscow time) / 08:15 (BST).  Dial in details for the call are as follows:

UK Free Call:                            0808 109 0700
International Access Number:    +44 203 003 2666
Moscow only Free Call:              810 800 2177 4011
USA Free:                                186 6966 5335