THE BLACK SEA PROPERTY FUND LIMITED

For immediate release
28 September 2012

Interim Report and Consolidated Financial Statements for the six month period ended 30 June 2012 and Valuations Announcement

The Black Sea Property Fund Limited (the “Company”) is pleased to announce its interim results for the six month period ended 30 June 2012.

The Interim Report and Consolidated Financial Statements are being circulated to shareholders and will be available shortly on the Company’s website: http://www.blackseapropertyfund.com/downloads/interim_results_2012.pdf
Copies can be obtained in hard copy form free of charge, from the Company Secretary, SJ Secretaries Limited at 1 Waverley Place, Union Street, St Helier, Jersey, JE1 1SG, Channel Islands.

In addition, with a view to reducing costs, the Company has resolved to dispense with semi-annual external valuations of the Company’s assets and has therefore reduced the number of external valuations to one per annum.

Enquiries:

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

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