Renaissance R.I.E. (RIEL)

Registered office: Paragon House, Ann's Place St Peter Port Guernsey Renaissance Russia Infrastructure Equities Limited is advised by Renaissance Asset Managers (Guernsey) Limited, which is authorised and regulated by the Guernsey Financial Services Commission.

8 February 2012

Renaissance Russia Infrastructure Equities Limited ("RIEL" OR THE "COMPANY")

SHARE BUYBACK PROGRAMME

As set out in the Company's prospectus dated 14 July 2011, pursuant to a written ordinary resolution dated 11 July 2011, the Directors have been granted general authority to purchase in the market up to 14.99 per cent. of the Company's ordinary shares of no par value ("Shares") in issue immediately following admission of the Shares to trading on the London Stock Exchange.

The Directors have today authorised the Investment Manager to make purchases of Shares pursuant to such authority.  Such Share purchases will be made on an ad hoc basis as and when the Investment Manager considers appropriate and in accordance with the requirements of the Listing Rules and Companies (Guernsey) Law, 2008 (as amended).  No formal share buy-back policy has been adopted by the Directors.  The timing and size of any Share purchases shall be at the discretion of the Investment Manager and no assurance is made that the Investment Manager will make purchases of Shares pursuant to the authority granted by the Directors. 

In the event of any Share purchases the Company will make the appropriate disclosure to the market, consistent with the FSA's Listing and Disclosure and Transparency Rules.

Contact:

Renaissance Russia Infrastructure Equities Limited

Robert Brown, for the Company Secretary, RIEL +44 (0)1481 726081

Further information is available at http://www.renasset.com/infrastructure.html