Eastern European Property Fund Ltd

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Eastern European Property Fund Limited

("EEP" or the "Company")

Sale of Pera Residence

19 March 2013

On 18 March 2013, EEP completed the disposal of Pera Residence (Asmalimescit Street, Beyoglu, Istanbul), for a cash consideration of USD2.12 million.

The Pera Residence, which comprises 274m2 of retail space, was sold fully occupied.  The sale of the property for USD2.12 million (approximately GBP1.40 million) has crystallised a gain (before transaction costs) of approximately USD1.37 million (GBP0.91 million).

The Company does not have any brought forward losses remaining to offset the corporate income tax, of approximately USD0.28 million, arising on the gain.

The sale price is approximately 22% higher than the carrying value of the property in the 30 June 2012 report and financial statements of GBP1.15 million.

For further information please visitwww.eepfl.comor contact:

Tom Fyson

Liberum Capital Limited

Tel: +44 203 100 2000

Keiran Gallagher

Pera Pera

Tel: +90 212 252 6048



Bob Locker

CNC Property Fund Management Limited

Tel: +44 1784 424 740



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