LONDON, July 4, 2011 - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, today informs of the reappointment of Mr. Pavel Grachev as Chairman of the Board of Directors of PIK Group.

From 2008 and up to the present, Mr. Grachev has been holding the post of Managing Director of «Nafta Moskva». In 2006 – 2008, he was a member of the Board of Directors of JSC «Polymetal». From 2009 and up to the present, Mr.Grachev is a member of the Board of Directors of «Polus-Gold» and «PIK Group».

In 1998, Mr.Grachev graduated from the University of Trieste (Italy) and Saint Petersburg State University, specialty – jurisprudence.