Appointment of new Chairman

MAIL.RU GROUP LIMITED

Dubai, UAE – MAIL.RU GROUP LIMITED (“Mail.ru Group” or the “Company”) announces today that Yuri Milner steps down from the Board of Directors. Dmitry Grishin is elected to the Board of Directors and appointed as Chairman of the Board while retaining his CEO position.

Commenting on his decision Yuri Milner said:

“It has been a great pleasure and privilege to be involved with Mail.ru Group and to take the business from its foundation to its successful IPO in November 2010. Serving as non-executive Chairman since the IPO has allowed me to watch the management team, led by Dmitry Grishin, whom I brought in as a co-founder and worked with for more than 10 years, deliver consistently strong results. I believe that Mail.ru is well placed for taking advantage of its leadership position.  I look forward to watching its continued success as Dmitry, and the team, continue to drive the business and execute on the strategy.”

Dmitry Grishin, Co-founder and CEO of Mail.ru Group commented:

“On behalf of the Board, management and employees of the Company we would like to thank Yuri for all that he has done for Mail.ru Group.  His contribution and his guidance have been much appreciated and valued. We wish Yuri continued success in his role at DST Global.”

There are no other changes to management or to the Board.  


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