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PGI Group PLC (PGI)

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Friday 04 August, 2006

PGI Group PLC

Final Fund Closing

PGI Group PLC
04 August 2006





PGI Group plc


St. Petersburg, Russia, July 31, 2006:


Jensen Group, a real estate developer based in St. Petersburg, Russia, announces
the Final Closing of its Cayman Islands based fund, Jensen Group I Limited
Partnership, on July 31, 2006.  This close brings the total size of the Fund to
$100,835,000.


Jensen will invest this Fund in discretionary opportunities as well as an
identified property, Sestra River Developments.  Sestra River is a spin-off of
land and buildings previously owned by Sestroretsk Instrument Works, the oldest
factory in Saint Petersburg which was founded by Peter the Great in 1721. Jensen
plans to develop Sestra River into a mixed-use project to help revitalize
Sestroretsk, Saint Petersburg's most prestigious suburb.


Jensen Group has been developing properties in St. Petersburg successfully since
1994.  In 2005, PGI Group PLC (PGI-LON) acquired 80% of Jensen.

Contact Information: Elizabeth Malloy, Head of Investor Relations, [email protected]






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