PRG was created in 2003 by a team of reporters and economists who collaborated on the Russian-American Opinion Poll project - a survey of Russian-speaking Americans' attitudes towards various political, social, and economic issues. The company gained prominence after its data appeared in such major US and Russian newspapers as The New York Times, the Wall Street Journal, among others. Corporations and Governmental agencies approached PRG's experts for advice on communications projects in the US and around the world. 

Between 2004 - 2006, Press Release Group, now a company of 20 professionals, handled more than 50 public relations campaigns, with clients ranging from the Ministry of Finance of Russian Federation to Aeroflot Russian Airlines to Western Union. 

In 2006, anticipating the rise of the Russian financial sector, PRG developed (together with Dow Jones Indexes) RUXX index, the leading financial indicator of Russian companies listed on Western exchanges. RUXX, published by all major business newspapers, is used as an indicator of attractiveness of the Russian assets abroad by financial journalists and analysts alike. RUXX is also a communication platform for Russian and Western financial community. Russian Finance Minister Alexey Kudrin, Communications Minister Leonid Reiman and US Congressman Mike Oxley hosted and took part in the RUXX round tables. Between 2007 and 2009, PRG and RUXX team handled three major Russian listing campaigns in the US and the UK. 

In 2007, as Western audience became more interested in Russian business, art and culture, PRG founded RUSSIA! magazine, an English-language quarterly, devoted to the most original coverage of people, trends, ideas and events taking place in or around Russia. In its first year, it was named "one of the best new magazines" by Library Journal and "a new favorite magazine" by Portfolio. The magazine and it's website, www.readrussia.com, became on of the most quoted resources on Russia. By working with the best US and European reporters  and collaborating with influential bloggers and opinion makers, the magazine managed to find a right combination of wit (you really need it when talking about Russia), serious reporting and deep understanding of both Russian and US media landscape, allowing RUSSIA! to become a hugely popular media project. While being editorially independent, the magazine's special projects department works with PRG to create outstanding opportunities for its customers, such as round tables, collaborative projects and new media ideas. Example of such collaborations is "Award for Best Russian Accent in Hollywood." 

Today, Press Release Group focuses on Media relations, Financial and Investor relations, Corporate Reputation Management and Art and Culture practice. It also offers custom publishing services, managed by its award-winning Russia! Publishing Group, and market research. The company is headquartered in New York with offices in Moscow and London.