Offer Lapsed

RNS Number:1361M
Bulgarian Property DevelopmentsPLC
18 January 2008


FOR IMMEDIATE RELEASE                                            18 January 2008

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

                  BULGARIAN PROPERTY DEVELOPMENTS PLC ("BPD")

                  RESPONSE TO THE ANNOUNCEMENT BY WINDSORVILLE

The Board of BPD notes the announcement by Windsorville that it received
acceptances of its offer from Shareholders holding just 596,171 BPD shares,
representing approximately 0.6 per cent. of the issued share capital.

The Directors of BPD are grateful to Shareholders for their support and are
committed to maximising value for all Shareholders, including Windsorville.

As foreshadowed in the circular to shareholders dated 7 January 2008, the
Directors intend, in due course, to hold meetings with its major shareholders,
including Windsorville, with a view to achieving a consensus as to the strategic
direction which they wish BPD to pursue and, if appropriate, to seek the
approval of Shareholders of the preferred strategy at a general meeting of BPD.

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)
Stephen Mischler                                            [phone]

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

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






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