The Black Sea Property Fund Limited (the “Company”)

For immediate release
30 June 2010

Annual Report and Audited Financial Statements for the year ended 31 December 2009

The Black Sea Property Fund Limited is pleased to announce its annual results for the year ended 31 December 2009.

The Financial Statements are being sent to Shareholders and will be available on the website. Copies can be obtained in hard copy form free of charge, from the Company Secretary, IPES (Jersey) Limited, 3rd Floor, South Tower, 29/31 Esplanade, St Helier, Jersey, JE2 3QA.

The annual report and accounts for the year ended 31 December 2009
can be found here

Contacts

Company Secretary
IPES (Jersey) Limited         01534 712 500
Kenneth Whitney

Nominated Advisor
Singer Capital Markets Limited         0203 205 5005 
James Maxwell