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Renaissance Russia Distressed Assets Limited – December 2010 Distribution

17 December 2010

Hamilton, Bermuda – 17 December, 2010 - In an announcement made to the Bermuda Stock Exchange (BSX), the Directors of Renaissance Russia Distressed Assets Limited (the “Company”; Ticker: RENDISA.VI) have announced the approval of a distribution in cash of US$4.835824 per share, which reflects a total distribution of US$1 million, net of expenses. The distribution will be paid on or around 20 December 2010.

For further information on the Company please contact:

Shareholder Services

Custom House Fund Services (Ireland) Limited

25 Eden Quay | Dublin 1| Ireland

Tel.: +353 1 878 0807

Fax: +353 1 878 7410

shareholder.services@customhousegroup.com

Bermuda Listing Sponsor:

Appleby Securities (Bermuda) Ltd

Mr Sherman Taylor (441) 298-3582