(London, October 21 2010) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, held its Board of Directors meeting on October 14 2010.

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

Pavel A.Poselenov           - President, CEO
Artem S. Eyramdzhants   - 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