TIDMAFID TIDMAFID TIDMAFRB 
 
RNS Number : 9702P 
AFI Development PLC 
27 July 2010 
 

 
 
 
 
                              AFI DEVELOPMENT PLC 
 
                      CHANGES IN THE SENIOR MANAGEMENT TEAM 
 
 
LONDON, July 27, 2010 - AFI Development PLC, a leading real estate company 
focused on developing property in Russia and the CIS, announces that Avi 
Barzilay will be stepping down as Chief Financial Officer of AFI Development to 
take the position of Deputy CEO of Africa Israel Properties effective from 
today. He will remain on the board of AFI Development as a non-executive 
director. 
 
Evgeny Luneev, who was appointed Chief Financial Officer of AFI Rus LLC in May 
2010, will assume Mr. Barzilay's responsibilities within AFI Development. 
 
Prior to joining AFI Development, Mr. Luneev served as Chief Financial Officer 
of PIK Group and previously held senior positions with the Sputnik Group 
investment bank and CJSC National Timber Company. Mr. Luneev graduated from the 
Moscow State Institute of International Relations with a degree in international 
economic relations in 1997 and holds a Certified Public Accountant Certificate 
in the US. He also graduated from the Stanford Executive Program at Stanford 
University in 2009. 
 
Commenting on the announcement, Lev Leviev, Chairman of the Board said: 
 
"On behalf of the Board, I would like to thank Mr. Barzilay for his many years 
of dedicated service to AFI Development as Chief Financial Officer which 
included leading the Company through its IPO and Premium Listing on the London 
Stock Exchange, and wish him success in his new position as Deputy CEO of Africa 
Israel Properties. We are especially pleased that, as a Board director, Mr. 
Barzilay will continue to support AFI Development going forward. At the same 
time, I am delighted that Mr. Luneev has agreed to take on a greater role within 
the Group. He is bringing a wealth of financial and management experience at a 
critical stage in the evolution of AFI Development." 
 
 
                                    - ENDS - 
 
 
For further information, please contact: 
 
AFI Development 
Igor Solomon 
                                      +7 495 796 9988 
Natalia Ivanova 
 
Citigate Dewe Rogerson, London +44 20 7638 9571 
David Westover 
Sandra Novakov 
Lucie Holloway 
 
About AFI Development 
AFI Development is one of the leading real estate development companies 
operating in Russia. Established in 2001 AFI Development is a publicly traded 
subsidiary of Africa Israel Investments Ltd. Since 1934 Africa Israel Investment 
Ltd. has been an international investment holding with a unique 70-year 
experience in real estate development all over the world, including Europe and 
the United States. 
In May of 2007 AFI Development was successfully admitted to the Main Market of 
the London Stock Exchange. Through its IPO the company raised a total of 
approximately US$1.4 billion. In addition to this listing of Global Depositary 
Receipts, each of which represents one A ordinary share, 523,847,027 of B 
ordinary shares in the Company were issued and admitted to a premium listing on 
the Official List of the UK Listing Authority and to trading on the main market 
of the London Stock Exchange on 5 July 2010. 
The Company delivers shareholder value through a commitment to innovation and 
continuous project development, coupled with the highest standards of design, 
construction, and quality and customer service. 
AFI Development focuses on developing and redeveloping high quality commercial 
and residential real estate assets in Moscow, the Moscow Regions and other major 
Russian cities such as St. Petersburg, Volgograd, Kislovodsk. AFI Development 
has strong track record of consistent growth over recent years and today the 
Company's existing portfolio has 30 development projects in 15 locations 
throughout Russia and Ukraine. Comprising commercial projects focused on 
offices, shopping centers, hotels and mixed-use properties, and residential 
projects, AFI Development's strategy is to sell the residential properties it 
develops and to either lease the commercial properties or sell them for a 
favorable return. 
AFI Development is a leading force in urban regeneration, breathing new life 
into city squares and neighborhoods and transforming congested and 
underdeveloped areas into thriving new communities. The Company's long-term, 
large-scale regeneration and city infrastructure projects establish the 
necessary groundwork for the successful launch of commercial and residential 
properties, providing what the Company believes to be a strong base for future 
growth. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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