PGI Pgi Grp

RNS Number:3025C
PGI Group PLC
02 May 2006


2 May 2006

                                 PGI Group plc

                        Jensen Group First Fund Closing



St. Petersburg, Russia, May 1, 2006:

Jensen Group, a Saint Petersburg, Russia based real estate developer announces
the first closing of the Cayman Islands based fund, Jensen Group I Limited
Partnership, on April 28, 2006.  With this closing, Jensen has raised USD61
million from a group of international investors which it plans to invest in
discretionary opportunities including the development of its Sestra River
Developments project.  A final close will occur on July 31, 2006.

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



Contact Information:

Elizabeth G. Malloy
Director of Capital Partnering
+7 812 325 1306
egm@jensen.ru
www.jensen.ru


END


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