Offer Lapsed

RNS Number:1258M
Windsorville Investments Ltd.
18 January 2008


FOR IMMEDIATE RELEASE                                           18 January 2008



                                   CASH OFFER

                                       by

                 WINDSORVILLE INVESTMENTS LTD. ("WINDSORVILLE")

                                      for

                  BULGARIAN PROPERTY DEVELOPMENTS PLC ("BPD")





                                  OFFER LAPSES

This announcement is not for Release, Publication or Distribution in or into the
United States, Canada, Australia or Japan

Windsorville announces that its Offer for BPD has lapsed.

As at the date of this announcement, Windsorville currently holds a total of
27,696,818 BPD Shares, representing approximately 25.9 per cent. of BPD's issued
share capital.

In addition, as at the close of the Offer today, Friday, 18 January 2008, being
the Final Closing Date of the Offer (as defined in Windsorville's Offer
Document), Windsorville had received valid acceptances in respect of a total of
596,171 BPD Shares, representing approximately 0.6 per cent. of BPD's issued
share capital.

Accordingly, as at the close of the Offer today, Windsorville either had an
interest in or had received valid acceptances in respect of a total of
28,292,989 BPD Shares, representing approximately 26.5 per cent. of BPD's issued
share capital.

Save as disclosed in the Offer Document and above, neither Windsorville nor, so
as far as Windsorville is aware, any person acting in concert with Windsorville,
is interested in, or has any rights to subscribe for, any BPD Shares, nor does
any such person have any short position or any arrangement in relation to BPD
Shares*.

As the Offer has now lapsed, BPD Shareholders have ceased to be bound by any
such acceptances.

*For these purposes, "arrangement" includes any agreement to sell or any
delivery obligation or right to require another person to purchase or take
delivery and borrowing and lending of BPD Shares.  An "arrangement" also
includes any indemnity or option arrangement, any agreement or any
understanding, formal or informal, of whatever nature, relating to BPD Shares
which may be an inducement to deal or refrain from dealing in such securities;
and "interest" includes any long economic exposure, whether conditional or
absolute, to changes in the price of securities and a person is treated as
having an "interest" by virtue of the ownership or control of securities, or by
virtue of any option in respect of, or derivative referenced to, securities.

ENQUIRIES

Citigroup Global Markets Limited ("Citi")                  Tel: [phone]
Ian Hart

Grant Kernaghan

Citi, which is authorised and regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively as financial adviser to Windsorville
and no one else in connection with the Offer and will not be  responsible to
anyone other than Windsorville for providing the protections afforded to clients
of Citi nor for providing advice in connection with the Offer or this
announcement or any matter referred to herein.

This announcement does not constitute, or form part of, any offer for, or any
solicitation of any offer for, securities.  Any acceptance or other response to
the Offer should be made only on the basis of information referred to in the
Offer Document.


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

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