THE BLACK SEA PROPERTY FUND LIMITED

For immediate release
19 November 2012

Adviser Change of Name

The Black Sea Property Fund Limited (the “Company”) announces that it has novated its Nominated Adviser and Broker agreement with Singer Capital Markets Limited to Nplus1 Singer Advisory LLP ("N+1 Singer") with immediate effect. This follows the completion of the merger between Singer Capital Markets Limited and N+1 Brewin LLP.

Contacts

Company Secretary
SJ Secretaries Limited         +44 (0) 1534 850 750

Nominated Adviser and Broker
N+1 Singer      +44 (0) 207 496 3000
James Maxwell / Nick Donovan