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

For immediate release
23 June 2011

Annual Report and Audited Financial Statements for the year ended 31 December 2010

The Black Sea Property Fund Limited is pleased to announce its annual results for the year ended 31 December 2010.

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, Saltgate Limited, 22-24 Seale Street, St Helier, Jersey, Channel Islands, JE2 3QG

The annual report and accounts for the year ended 31 December 2010
can be found here

Contacts

Company Secretary
Saltgate Limited         +44 (0) 1534 850750

Nominated Advisor
Singer Capital Markets Limited         +44 (0) 203 205 7500
James Maxwell
Nick Donovan