Change in MFT nominated director

MAIL.RU GROUP LIMITED (“Mail.ru Group” or the “Company”) today announces that in accordance with the nomination by Boris Dobrodeev, exercising his voting rights under the MFT shares earlier granted to him by MFT shareholders MFT has nominated Vladimir Gabrielyan as new Director to the Board of the Company with immediate effect.

Mr. Gabrielyan has been with Mail.Ru Group since 2001 and has very extensive experience. He is currently Vice President and CTO of Mail.Ru Group and was one of the earliest employees of the company.

The new nomination will replace Boris Dobrodeev. There is no change in the economic ownership of MFT or in management of Mail.Ru Group.

Boris Dobrodeev, CEO (Russia) of Mail.Ru Group: “In order to avoid any perceived conflict of interest between myself exercising the votes on behalf of MFT, and the board, we have decided to strengthen, and further empower the operating management of the Company, though the appointment of Vladimir to the Board.  This change allows me as CEO to exercise the votes on behalf of the Company, its employees and shareholders and report to the Board.  There is no change in management, strategy or governance as a result of this.”

For further information please contact:

Investors:

Matthew Hammond

Mail.Ru Group

Phone: +971 505 56 1315

E-mail: hammond@corp.mail.ru

Press

Olga Zyryaeva

Phone: +7 909 974 5996

E-mail: o.zyryaeva@corp.mail.ru