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Friday 04 August, 2006


Final Fund Closing

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

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]

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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