For immediate release
1 September 2009

Annual General Meeting

The Black Sea Property Fund Limited (the “Fund”), is pleased to announce that all resolutions put to shareholders at the Fund’s annual general meeting held in Jersey on 1 September 2009, including special resolutions to approve the Fund’s share buy-back authority and to reduce the Fund’s stated capital account, were duly passed.

List of Contacts

Singer Capital Markets     020 3205 7500
Roger Clarke
Jos Trusted

IPES (Jersey) Limited     01534 712501
Andrew Mason