OREANDA-NEWS. April 15, 2011. (“Mail.Ru Group” or the “Company”), the largest Internet company in the Russian-speaking world based on monthly unique users, announces that Alexander Tamas has advised the Board that he wishes to resign as the Managing Director of Mail.Ru Group with effect from 6 April 2011. The Board announces that Matthew Hammond, currently a Director of Mail.Ru Group be appointed to replace Alexander Tamas as Managing Director with effect from the same date.

Directors Options

In keeping with the management option plans as outlined in the IPO Prospectus, the Board of Mail.Ru Group has approved 53,532 options over ordinary shares of the Company to be assigned to each Director other than Chairman, i.e. to each of:

Marcos Galperin
Sang Hun Kim
Gregory Finger
Vladimir Streshinskiy
Hein Pretorius
Vasileios Sgourdos
Ardavan Moshiri
Matthew Hammond
Mark Remon Sorour

The Board has also exercised their discretion as outlined in the IPO Prospectus, to assign 305,132 options over ordinary shares of the Company to Yuri Milner, Chairman.

For further information please contact:
Yuri Mikhalev
VP, Corporate Finance and Investor Relations
Phone: +7 495 651 6595

E-mail: ir@corp.mail.ru

Financial Dynamics
London 
+44 (0)20 7831 3113 
Moscow 
+7 495 795 06 23

James Melville-Ross 
Oleg Leonov 
Charles Palmer 
Matt Dixon 
Emma Appleton