Regarding Russian Real Estate Investment Company AB (“Ruric”) – comments to bondholder offer

The holders of bonds issued in accordance with Ruric’s (publ) 2006/2010 debentures, maximum amount SEK 700,000,000 at 8.5%, loan no. 2 (“Bond Loan No. 2”) and Ruric’s (publ) maximum SEK 400,000,000 16% Bonds 2008/2010, Series No. 3 (“Bond Loan No. 3”) have by a press release issued by Ruric on 6 October 2009 been informed about an offer by Ruric to exchange or acquire these bonds and a proposal by Ruric to make certain material amendments to the terms and conditions of these bonds as further described in Ruric’s press release. Representatives of a group of beneficial owners of the Bond Loan No. 2 and Bond Loan No. 3 bonds, including Storm Capital Management Ltd., QVT Financial LP, AB Apprecia, and Traction Delta AB are currently contacting Ruric to inform the Board that after carefully considering the offer the group of bondholders represented by the above mentioned entities has concluded that, at this time, the group is negative towards accepting the offer described in the press release and negative towards providing its consent to the proposed amendments to the terms and conditions of Bond Loan No. 2. The group representing the beneficial owners of Bond Loan No. 2 today has more than twenty (20) per cent of the aggregate outstanding nominal amount under Bond Loan No. 2. Representatives of the group are willing to engage in a dialogue with Ruric about alternate solutions.