Sites in Ruse & Sandanski

RNS Number:1954F
Bulgarian Property DevelopmentsPLC
05 October 2007


FOR RELEASE                         07.00                        05 OCTOBER 2007



                      BULGARIAN PROPERTY DEVELOPMENTS PLC
                                    ("BPD")


        ACQUISITION OF STRATEGICALLY IMPORTANT SITES IN RUSE & SANDANSKI



BPD is pleased to announce the acquisition of two properties which were
completed recently.


RUSE


This site consists of a 53,676m2 plot of land in Ruse at a total price of Euros
1,395,576 (ex VAT).


Ruse is located in northern Bulgaria at a point where the strategically
important Pan European Transport Corridor 9 crosses the river Danube by a rail
and road bridge. The transport corridor connects Romania and north-eastern
Europe with Bulgaria, Turkey, and eastern Greece. This makes Ruse an excellent
location for distribution warehousing.


The plot is in the new Ruse Industrial Park, approximately one kilometre from
the bridge, and has already been provided with modern infrastructure by the
municipality of Ruse. This will reduce the cost of any development on the site.


BPD intends to construct approximately 18,000 m2 of warehousing and associated
offices on the site over the next two years.


Completion of the purchase took place on 18th September 2007.


SANDANSKI


BPD has purchased a 50% interest in the proposed development of a shopping
centre in Sandanski, south west Bulgaria, from FairPlay Commercial ("FairPlay")
for Euros 560,000. The shopping centre will be developed in partnership with
FairPlay who retain the other 50% of the project.


Sandanski is a regional hub in southern Bulgaria near the Greek border. It is a
prosperous small city and is a significant destination for Greek tourists who
are attracted by the healthy climate, the mineral waters and the cheap cost of
living.


The site is approximately 19,000 square metres and is located on the E79 (the
main highway from Sofia to Greece) almost immediately opposite the turning from
the highway into Sandanski. It is currently zoned for agricultural purposes but
is in an area where several commercial and residential developments have been
proposed so BPD do not foresee significant problems in obtaining rezoning.


The location of the site makes it convenient for both the inhabitants of
Sandanski (and neighbouring towns) as well as road traffic passing through on
its way to Sofia or Greece.


Construction is anticipated to commence in mid to late 2008.


BPD has acquired its interest through acquiring a 50% interest in the special
purpose vehicle owning the site. The acquisition was completed on 4 July 2007.
Transfer of the shares was registered by the Bulgarian courts on 21 September
2007, and notification of this was received by BPD during the week beginning 1
October 2007.





Enquiries:


Bulgarian Property Developments
Ivo Hesmondhalgh (Joint Chief Executive)                [phone]

Bulgarian Property Developments
Philip Pashov (Joint Chief Executive)                   [phone]

Cubitt Consulting
Brian Coleman-Smith/James Verstringhe                   [phone]

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


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



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