(LONDON, 26 July 2010) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, held its Board of Directors meeting on 23 July 2010.

Under the resolution approved by the Board of Directors, Management Board was formed, the composition of which is as follows:

  
Pavel A.Poselenov            President, CEO
Artem S. Eyramdzhants  - First Vice President
Sergey V. Kanaev          - First Vice President
Andrey M. Rodionov       - Vice President for Economics and Finance, CFO
Konstantin V. Kuznetsov - Vice-President for Industry and Construction
Fedor B. Sapronov         - Vice President for Legal Issues

Pavel A.Poselenov, CEO, was elected as Chairman of Management Board.

Enquiries:
Investors
PIK Group                                    Tel: +7 495 505 97 33 ext. 1315 / 1358
Viktor Szalkay
Head of Investor Relations

International media
Citigate Dewe Rogerson                Tel: +44 20 7638 9571
Tom Baldock
Lindsay Noton

Russian media
Dmitry Ivliev                                 Tel: +7 495 505 97 33 ext. 1010 / 1028