THE BLACK SEA PROPERTY FUND LIMITED

For immediate release
2 December 2011

Letter to Shareholders

The Black Sea Property Fund Limited announces that a letter to shareholders of the Company has been published today.

The letter is available on this website here:

Download the letter to shareholders 2 December 2011

Enquiries:

Company Secretary
Saltgate Limited         01534 850750
James Culshaw

Nominated Advisor
Singer Capital Markets Limited         020 3205 7500
James Maxwell / Nick Donovan