TR-1: Notification

RNS Number:1300T
Bulgarian Property DevelopmentsPLC
25 April 2008


FOR IMMEDIATE RELEASE                                              25 April 2008


                      Bulgarian Property Developments PLC



Form TR-1 with annex. FSA Version 2.1 updated April 2007

For filings with the FSA include the annex
For filings with issuer exclude the annex

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer BULGARIAN PROPERTY DEVELOPMENTS
of existing shares to which voting rights are      PLC
attached:                                          

2. Reason for notification (yes/no)

                                                                       
An acquisition or disposal of voting rights                             YES
                                                                        Acquisition

An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are       
attached

An event changing the breakdown of voting rights

Other (please specify):______________

3. Full name of person(s) subject to      1.        European Asset Value Fund 3,074,563
notification obligation:                  2.        Princeton University 1,543,792
                                          3.        Robertson Foundation 92,547

4. Full name of shareholder(s)            1.        Pictet Nominees 3,074,563
(Registered Holders)                      2.        Mellon Nominees 1,543,792
                                          3.        Mellon Nominees 92,547
                
5. Date of transaction (and date on which 23 April 2008
the threshold is crossed or reached if    
different):

6. Date on which issuer notified:         24 April 2008
        
7. Threshold(s) that
is/are crossed or reached:                4%

8: Notified Details
A: Voting rights attached to shares
Class/type of Situation previous  Resulting situation after the triggering
shares        to the triggering   transaction
              transaction
If possible
use ISIN code Number   Number of  Number of  Number of voting    Percentage of
              of       voting     shares     rights              voting rights
              shares   rights
                                             Direct    Indirect  Direct    Indirect
GB00B058TT05 3,960,902 3,960,902 4,710,902   4,710,902 4,710,902 4.41%     4.41%
Ordinary Shares




B: Financial Instruments
Resulting situation after the triggering transaction
Type of     Expiration Exercise/     No. of voting rights that may   Percentage
financial   date       conversion    be acquired (if the instrument  of voting
instrument             period/date   exercised/converted)            rights
N / A



Total (A+B)
Number of voting rights              Percentage of voting rights
4,710,902                                        4.41%

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:
Mellon Nominees acts as custodian for Princeton University
Mellon Nominees acts as custodian for Robertson University
Pictet Nominees acts as custodian for The European Asset Value Fun

Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional       Asset Value Investors acts as discretionary manager for all
information:         funds mentioned in 3.
14 Contact name:     Asset Value Investors Limited
                     Daniel Sadler
15. Contact
telephone
name:                0207 647 2919


For notes on how to complete form TR-1 please see the FSA website.



                      This information is provided by RNS
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