Notifiable Interests

RNS Number:9358K
Bulgarian Property DevelopmentsPLC
24 October 2006


FOR IMMEDIATE RELEASE                                            24 OCTOBER 2006


                        BULGARIAN PROPERTY DEVELOPMENTS PLC

                  NOTIFIABLE INTERESTS IN THE COMPANY'S SHARES


Bulgarian Property Developments plc (BPD) has been notified that on 19th October
Deutsche Bank AG and its subsidiary companies held a notifiable interest in
4,000,000 ordinary shares in the company, amounting to 5.51% of the issued share
capital.


Bulgarian Property Developments plc has also been notified that on 23 October
MLP Investments (Caymans) Ltd has a notifiable interest in 2.254,545 ordinary
shares in the company amounting to 3.11% of the issued share capital.


Enquiries:

Bulgarian Property Developments

Ivo Hesmondhalgh (Joint Chief Executive)                    [phone]

Bulgarian Property Developments

Philip Pashov (Joint Chief Executive)                         [phone]

Cubitt Consulting

Brian Coleman-Smith / Nia Thomas / Allison Reid             [phone]

Notes to Editor:

Bulgarian Property Developments:

Bulgarian Property Developments floated on AIM in January 2005, raising #4.2
million net. A further #32.9 million net was raised in January 2006. The Company
is primarily focused on commercial property development and, in particular,
building distribution centres, retail parks and offices in Bulgaria as opposed
to residential.


A strong management team with cultural knowledge and connections in Bulgaria has
been recruited and the Company currently has ongoing developments in Sofia,
Varna, Plovdiv and Pleven.


Background on the Bulgaria and the Property Market:


Bulgaria is in a transitional period, moving from a command to a market economy.
Bulgaria is joining the European Union in 2007, which should be favourable for
the Bulgarian property market. Bulgaria joined NATO in 2004. The Bulgarian
economy is growing strongly and Bulgaria is a politically stable country. It
continues to develop with GDP growth estimated for 2005 of 5.4%. The Lev has
been pegged to the Deutsche Mark since 1997 and the Euro since the Euros
introduction as Euro 1: Lev 1.9558.


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

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