OREANDA-NEWS. July 30, 2009. PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, held its Annual General Meeting of Shareholders on 29 June 2009.

Resolutions approved at the annual general meeting of shareholders are summarised
below:

1. Approval of the Russian statutory 2008 annual report and the RGAAP nonconsolidated
financial statements of PIK Group for the year ended 31 December,
2008 in accordance with Russian statutory requirements;

2. Approval of non-dividend payments for 2008 financial year as per RGAAP
financial statements. Net profit is to be reinvested into the Company;

3. Approval of the election of the following members of the Board of Directors, of
which 5 directors were re-elected and 4 were newly appointed:

1. Yury V. Zhukov (re-elected) - Chairman of the Board of Directors of PIK Group
2. Kirill V. Pisarev (re-elected) - CEO, President of PIK Group
3. Lee S. Timmins (re-elected) - Hines International Corporation, Head of Moscow
Representative Office
4. Alec Maryanchik (re-elected) - Clever Asset Management, General Director
5. Denis Nozdrachev (re-elected)- Bank for Development and Foreign Economic Affairs (Vnesheconombank), Director of the Infrastructure Department
6. Alexander Gubarev (newly appointed) - Head of Moscow Representative Office of Galahad
Advisers Limited.
7. Alexander Mosionzhik (newly appointed) - Nafta Moskva (Cyprus), Chairman of the Board of
Directors
8. Andrey Rodionov (newly appointed) - Moscow Representative Office of Nafta Moskva,
Managing Director
9. Pavel Grachev (newly appointed) - Moscow Representative Office of Nafta Moskva,
Managing Director

4. Approval of the members of the Audit Commission:

Loudmila Monetova - Head of the Audit Division of PIK Group
Elena Ivanova - Head of IFRS Division of the Group
Olga Kobizskaya - Deputy Director of Treasury

5. Approval of BDO Unicon as the audit firm of the RGAAP financial statements of
the Company for 2009;

6. Approval of related party inter-company transaction between the holding company, PIK Group, and its subsidiary, PIK Region, as set out by Russian statutory requirements.