19 января 2016

(MOSCOW, January 19, 2016) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, announces that it has sold its 100% share in City Quarter project, located in the center of Moscow.

The property is located on the land plot of 6.8 ha on Mantulinskaya Street and is currently occupied by the Krasnopresnensky sugar plant facilities. The City Quarter project was designed for development of elite residential housing and commercial premises.

The sale of the City Quarter project is in line with the Group's strategy to focus on development of affordable housing.

Proceeds from the sale were used for further debt reduction.

Enquiries:

PIK Group

Investors

Media

Polina Kurshetsova

Natalia Mikhna

Tel: +7 495 505 97 33 ext. 1315

Tel: +7 (909) 913 14 70

E-mail: ir@pik.ru

E-mail: pressa@pik.ru

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PIK Group OJSC issued this content on 2016-01-19 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-19 11:02:02 UTC

Original Document: http://pik-group.com/media/our-news/all/?news_id=5146