Result of AGM

RNS Number:1648T
Northern European Properties Ltd
25 April 2008


Result of AGM

Northern European Properties Limited (the "Company"), which invests in real
estate opportunities in the Nordic and Baltic regions and Russia, announces that
at the Annual General Meeting of the Company held on 22 April 2008 all Ordinary
Resolutions were duly passed and the following Special Resolutions were also
duly passed:

Resolution 12 - THAT in accordance with article 2 of the Company's Articles of
Association and the Companies (Jersey) Law 1996, as amended, the Company be
generally and unconditionally authorised for the purposes of Article 57 of the
Companies (Jersey) Law 1996, as amended, to make one or more on-market purchases
of no par value Ordinary Shares of the Company, and may either cancel or hold
any such Ordinary Shares in treasury, provided that:

a) the maximum aggregate number of ordinary shares authorised to be 
   purchased is 71,388,000 which is approximately 15 per cent. of the issued 
   Ordinary Share capital of the Company as at 17 March 2008 (being the last 
   practicable date prior to publication of this notice);

b) the minimum price which may be paid for an Ordinary Share is Euro0.01 per share;

c) the maximum price which may be paid for an Ordinary Share being purchased on 
   NYSE Euronext Amsterdam N.V. ("Euronext") is an amount equal to 105 per cent.
   of the average of the highest price per Ordinary Share on each of the last 
   five days of trading preceding the date of acquisition, as published in the 
   Daily Official List of Euronext or one of its subsidiaries;

d) unless previously renewed, varied or revoked, the authority conferred shall 
   expire on 21 July 2009, or if earlier, at the conclusion of the Company's 
   next annual general meeting; and

e) the Company may make a contract or contracts to purchase Ordinary Shares 
   under the authority conferred prior to the expiry of such authority which 
   will or may be executed wholly or partly after the expiry of such authority 
   and may make a purchase of Ordinary Shares in pursuance of any such contract
   or contracts as if such authority had not expired.

Resolution 13 - THAT the Company be generally and unconditionally authorised to 
                change its name to NR Nordic & Russia Properties Limited.

Resolution 14 - THAT the articles of association of the Company be amended by 
                the insertion of new article 35.10 and further amended to 
                reflect the new name of the Company as per Resolution 13 above,
                such amendments to be in the form of the draft produced to the 
                meeting and initialled by the chairman of the meeting for the 
                purpose of identification.


As announced on 31 March 2008, the Company's AIM admission is expected to be
cancelled at 7.00am on 28 April 2008. A shareholder wishing to trade the
Company's shares on Euronext Amsterdam by NYSE Amsterdam must have or must open
an account directly or by way of an intermediary with an admitted institution of
Euroclear Nederland and then elect to transfer its shares to the CREST account
of Euroclear Nederland.

Following the change of the Company's name to NR Nordic & Russia Properties
Limited, which becomes effective on 29 April 2008, the Company's shares will be
listed under the symbol 'NRP' (previously 'NEPR'), with the ISIN Code
JE00B1G3KL02 and Security Code 614764. The address of Euroclear Nederland is:
Herengracht 459-469, 1017 BS Amsterdam.

Enquiries:

Jens Engwall, Chairman         Tel: [phone]

Thomas Lindeborg, CEO          Tel: [phone]

Per Lindblad, CFO              Tel: [phone]


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