R.G.I. International Limited : R.G.I. International granted permission to construct phase 2 of "V Lesu" development

11 December 2012

R.G.I. INTERNATIONAL LIMITED

R.G.I. INTERNATIONAL GRANTED PERMISSION TO CONSTRUCT PHASE 2 OF V-LESU DEVELOPMENT

R.G.I. International Limited ("RGI" or the "Company"), the AIM listed developer of quality residential and retail properties within Moscow and the surrounding areas, is pleased to announce that the Moscow Regional Authority has granted permission for construction of Phase
2 of the residential project Microcity "V Lesu" ("V Lesu"), the Company's development in the
Krasnogorsk Region near Mitino on the outskirts of Moscow.
Phase 2 of the project comprises five buildings and a total of 1,501 apartments, each of which comes with an underground parking space. Phase 2 also contains 8,373 square meters of commercial space, which will provide residents with local shopping and other commercial facilities, in addition to employment opportunities. Construction works on the first Phase 2 building are scheduled to commence in Q1 2013.
Today's announcement follows the granting of permission in October 2012 for construction of a three storey school building at «V Lesu», an important milestone which has further enhanced the attraction of the project to homebuyers.
Phase 1 of «V Lesu» comprises three buildings and a total of 1,193 apartments. Construction of the first building, Building 18, is nearing completion and the first tenants are due to move in during Q3 2013. Phase 1 is expected to be completed by Q4 2013.

Commenting, Andrey Nesterenko, CEO of RGI, said:

"The implementation of Microcity "V Lesu" is moving ahead of the previously approved schedule. The project's success is obvious: the apartments are highly appreciated by the professional community and are in demand from homebuyers.
The rate of progress with Phase 1 has enabled us to move quickly to approval for Phase 2. We look forward to adding a further 1,500 high quality apartments to this outstanding development."

About RGI

RGI is a property development and management company focusing on quality residential and retail properties within Moscow and the surrounding areas.
RGI is recognised for creating exceptional properties. Great care is taken in choosing the right sites, in central Moscow and the surrounding areas, for both high-end and economy class residential, leisure and retail properties. Our finished properties are characterized by high quality finish and exceptional design. RGI's management has been developing property in Moscow since the early 1990s and the Company has been listed on the AIM market of the London Stock Exchange since December 2006.

About Microcity "V Lesu"

Microcity «V lesu», located in the Krasnogorsky area of Moscow Region, only 6 kilometers away from The Moscow Circle Highway and 23 kilometers from the Kremlin, is currently the largest development within the RGI portfolio. The project meets growing demand from the consumer for more comfortable modern apartments suitable for families, in a community with open spaces, shops, churches, kindergartens, schools and the security of a police station. «V lesu» translated into English means «in the forest».
Construction of the first phase of V Lesu started in March 2011 and the first sales began in September 2011. The first phase comprises 1,193 apartments of 79,465 sq. m, 3,466 sq m of commercial space, 1,249 underground parking lots and related community facilities.
For more information go to www.rgi-international.com

R.G.I. International Limited Alan Hibbert, CFO	[phone]
Citigate Dewe Rogerson - Financial PR Adviser Tom Baldock / Joscelyn Bieneman	[phone]
Shore Capital and Corporate Ltd - Nominated Adviser Anita Ghanekar / Edward Mansfield	[phone]