Storm Properties is pleased to announce the company's new strategic partnership - Kirill Pisarev, a shareholder and one of the founders of PIK Group, has purchased the controlling stake of Storm Properties through his affiliated company.

September 2010

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As of 6 September 2010, Mr. Pisarev has joined the Storm Properties Board of Directors and has been elected as its Chairman.

"Over the course of the three year partnership between Storm Properties and PIK Group, I always had the utmost confidence that Michael Belton and his colleagues were highly professional. Therefore, with great pleasure, I accepted the proposal on becoming a partner and a shareholder of Storm Properties. I value Storm's experience, institutional approach to work, and fast reaction to the ever changing market, so its evident that there is great potential for our partnership", - Mr. Pisarev commented the deal.

Michael Belton, President of Storm Properties, said: "I am glad to have the chance to work with such a reliable partner as Kirill Pisarev. I'm confident that our cooperation will become mutually beneficial and will open new opportunities and challenges for Storm Properties".

Currently, Storm Properties and its new shareholder lead active negotiations on entering into a number of interesting residential and commercial real estate developments which will expand Storm's portfolio. The results of these negotiations will be announced later.

About Storm Properties

Storm Properties is one of the leading real estate developers in Moscow providing the full range of real estate development, investment and asset management services. Our core team has worked together for the past 8 years and has over 50 years' commercial experience in total. We have successfully overseen the development of over 800,000 sqm of property across various classes and have won a number of prestigious real estate industry awards. We possess the best in class experience of successfully developed projects: from shopping centers to cottages, office blocks to business parks.

Storm Properties is the first Russian developer certified in accordance with the international standards for quality management systems ISO 9001:2008.