AGM Statement

RNS Number:7715R
Bulgarian Property DevelopmentsPLC
07 April 2008


FOR IMMEDIATE RELEASE                                             7 April 2008


                       BULGARIAN PROPERTY DEVELOPMENT PLC
                            (the "Company" or "BPD")

                Announcement of results from the General Meeting

Following the General Meeting held on 7 April 2008, the Directors announce that
both resolution 1 and resolution 2 have been passed.

Resolution 1 asked shareholders to approve the cancellation of the Company's
share premium account ("Share Premium Cancellation") to create sufficient
distributable reserves in order for the Board to return 19p per ordinary share
of 25p each in the capital of BPD ("Share"). Following this approval, the
Company will now apply to the High Court of Justice for an appropriate Court
Order concerning the Share Premium Cancellation. The Share Premium Cancellation
will become effective on the date the Court Order confirming the Share Premium
Cancellation is registered with the Registrar of Companies (the "Effective
Date") or soon thereafter.

It is anticipated that the Board will be in a position to return 19p per Share
shortly after the Effective Date.

The Board will update Shareholders when further details are available and, in
particular, with respect to the timetable of Court dates.

Resolution 2 asked Shareholders to approve the authority for the Company to be
able to purchase its own Shares up to a maximum of 10 per cent. of BPD's issued
share capital. The minimum and maximum prices at which Shares can be purchased
is 25p (the nominal value of the Shares) and 105 per cent. of the closing middle
market quotation for a Share respectively, as derived from the Stock Exchange
Daily Official List for the five business days immediately preceding the date on
which the Shares are purchased. The authority will expire at the Company's next
annual general meeting unless renewed at that time.

Enquiries

Bulgarian Property Developments
Christian Williams (Chairman)                      [phone]
Ivo Hesmondhalgh (Joint Chief Executive)           [phone]
Keith Springall (Finance Director)                 [phone]

Matrix Corporate Capital LLP (Nominated Adviser)
Ken Vere Nicoll                                    [phone]

Fairfax I.S. PLC (Broker)
Simon Stevens                                      [phone]

Cubitt Consulting
Simon Brocklebank-Fowler                           [phone]
Brian Coleman-Smith
James Verstringhe



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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