London, April 3, 2012 - OJSC PIK Group ("PIK Group" or "the Company)  announces that it has received a notification from Holborner Services Limited ("Holborner") informing the Company  that on 29 March 2012, a Cypriot court issued an order on discharging the injunction against Holborner dated September 30,  2011 following an ex parte application filed by Forienst Investment Limited ("Forienst").

The injunction concerned an 8.29% stake in OSJC PIK ("PIK") owned by Holborner and in relation to which Forienst has a call option right (exercisable during a two year period from 16 March 2012).

The said injunction ceased to be in force starting from 29 March 2012.