Letter to Shareholders

RNS Number:5605G
Bulgarian Property DevelopmentsPLC
30 October 2007


FOR RELEASE                         07.00AM                     30 OCTOBER 2007



                      BULGARIAN PROPERTY DEVELOPMENTS PLC
                                    ("BPD")


                             Letter to Shareholders

                    New valuation of properties commissioned

    Shareholders advised to take no action in respect of their Shareholdings


The following is the text of a letter which has been posted to BPD shareholders:


"On 20th September 2007 I sent you the text of an announcement by Windsorville
Investments Limited ("Windsorville") that it was considering a possible offer
for Bulgarian Property Developments plc ("the Company") and that any offer it
made would be in cash at a price of not less than 64p.

The Company has commissioned a new valuation of its properties from Colliers
CRE, details of which will be communicated to Shareholders as soon as
practicable.

The publication of the Company's results for the year ended 30 June 2007 has
been delayed pending completion of the Colliers CRE valuation and clarification
of Windsorville's intention.

In the meantime Shareholders are advised to take no action in respect of their
Shareholdings.


Christian Williams Chairman

The directors of Bulgarian Property Developments plc accept responsibility for
the information contained in this letter. To the best of their knowledge and
belief (having taken all reasonable care to ensure that such is the case), the
information contained in this letter is in accordance with the facts and it does
not omit anything likely to affect the import of such information."

In accordance with Rule 26 of the AIM Rules for companies a copy of the letter
and of this notification will be available on the Company's website .


Enquiries:

Bulgarian Property Developments
Ivo Hesmondhalgh (Joint Chief Executive)             [phone]
Philip Pashov (Joint Chief Executive)                [phone]
Keith Springall (Finance Director)                   [phone]


Cubitt Consulting                                    [phone]
Simon Brocklebank-Fowler / Brian Coleman-Smith / James Verstringhe
Matrix Corporate Capital LLP (Nominated Adviser)     [phone]
Ken Vere Nicoll


Background Note:

BPD was incorporated in May 2004 and admitted to AIM on 4 January 2005, having
raised #4.2 million (after expenses). BPD subsequently assembled and acquired a
number of strategic sites in Sofia.

In January 2006 the Company raised a further #32.9 million (after expenses) in
new equity to enable it to acquire further and larger sites with a geographical
spread involving the major cities in Bulgaria enabling BPD to acquire land and
properties in Sofia, Plovdiv, Varna and Pleven. By June 2007 these funds were
effectively fully invested and BPD raised a further #21 million (after expenses)
for the initial phases of the development and construction of the existing
projects and for the acquisition of new projects in BPD's pipeline.

These projects are (with one exception) all for commercial development. They
will be developed for a variety of commercial uses including: warehousing,
retail centres, offices and business parks.


http://www.bpdplc.com




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

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