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Raven Russia, the AIM-listed investor in Russian warehouses, has confirmed the appointment of Glyn Hirsch, as executive director and CEO, and Anton Bilton as executive deputy chairman.

The company said it has also completed the process of internalising its external property adviser.

Hirsch (47) qualified as a Chartered Accountant with Peat, Marwick Mitchell & Co in 1985. Until 1995 he worked in the corporate finance department of UBS (formerly Phillips & Drew), latterly as an executive director specialising in UK smaller companies.

From 1995 until 2001 he was CEO of CLS Holdings plc, the listed property investment company. He is a former Director of Citadel Holdings plc, the specialist French property investor and former Chairman of Property Fund Management, the listed property fund management business.

Anton Bilton (44) is currently executive Chairman of RPML and Raven Mount. He has been a founder and director of three other companies that have floated on AIM.

Raven Russia said it is required to pay £15 mln in cash in relation to the internalisation process, subject to an adjustment primarily to take into account the accrued management fee, and to issue 80 million new shares, which will be issued on 27 November 2008.

The Company has applied for these shares to be admitted to AIM and they are expected to be admitted on 28 November 2008. Following such issue, Raven Russia's issued share capital will be 512.6 million shares. Richard Jewson, Chairman of Raven Russia, commented: 'We are delighted to announce the successful completion of the Internalisation of our external property advisor and believe that this will add significant value to the shareholders of Raven Russia, both in terms of significant cost savings and increased efficiency and focus.'




All definitions contained herein are as set out in the Circular.




The full list of Anton's current directorships is as follows:




A & A Interiors & Furnishings Limited

Misereavere Limited

Raven Mount Limited

Raven Mount Group Plc

Raven Property Group Plc

Raven Property Holdings Plc

Raven Russia Property Management Limited

Raven Tower Limited

Santon Capital Plc

Santon Close Nominees Ltd

Santon Developments Plc

Santon Management Ltd

Santon Putney Limited

The Guaranteed Investment Property Company Limited







The full list of Anton's previous directorships in the last five years is as follows:




Capital Reversions Plc

Avanti Capital Plc

ZTC Telecommunications Plc

Warner Bros. Studio Stores Limited

Angela Flowers Gallery Plc

Santon UK Limited

Swan Hill Staff Pension Trust Limited

Bilton House Investments Limited

Hamlin Developments Limited

Raven Audley Court Plc







The full list of Glyn's current directorships is as follows:




Emisan Limited

Liontrust Asset Management Plc

Proventec Plc

Raven Mount Plc

Raven Property Group Plc

Swan Hill Staff Pension Trust Limited

Medavinci Plc

Misereavere Limited







The full list of Glyn's previous directorships in the last five years is as follows:




Raven Audley Court Plc

Glotel Limited

Property Fund Management Limited

The Io Group Limited

International Brand Licensing Plc

Santon UK Limited

Brook Street Consulting Limited






Anton Bilton has direct and indirect holdings totalling 20,751,681 ordinary shares of 1 pence each in the Company, representing approximately 4.05% the Company's issued share capital post Internalisation.




Glyn Hirsch owns 139,863 ordinary shares of 1 pence each in the Company, representing approximately 0.03% the Company's issued share capital post Internalisation.




Save as set out in this announcement, there is no further information relating to either Glyn Hirsch or Anton Bilton required to be disclosed pursuant to rule 17 of the AIM Rules.



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Further enquiries:

Raven Russia Limited

Richard Jewson, Chairman Tel: +44 (0) 1603 757 909

Bell Pottinger Corporate & Financial

Charles Cook Tel: +44 (0) 20 7861 3232

Mike Davies

Andrew Benbow




Numis Securities Limited

Financial Adviser, Nominated Adviser and Joint Broker

Nick Westlake (Nomad) Tel: + 44 (0) 20 7260 1000

Nick Harland

Rupert Krefting