THE BLACK SEA PROPERTY FUND LIMITED

For immediate release
2 June 2009

Annual Report and Financial Statements for the Year Ended 31 December 2008

The Black Sea Property Fund Limited, is pleased to announce its annual results for the year ended 31 December 2008.

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, BNP Paribas Securities Services Fund Administration Limited, Liberte House, 19-23 La Motte Street, St Helier, Jersey JE2 4SY

The annual report and accounts for the year ended 31 December 2008
can be found here

For further details please contact:

BNP Paribas Fund Services Jersey Limited     01534 709108
Jeremy Hamon

Numis Securities      020 7260 1000
Nominated Advisor: Nick Westlake
Hugh Jonathan