Change of Administrator, Co Secretary & Reg Office

14 December 2012

Dragon-Ukrainian Properties & Development plc

("DUPD" or the "Company" and together with its subsidiaries, the "Group")

Change of Administrator, Company Secretary and Registered Office

The Directors of the Company are pleased to announce that, with effect from today, Isle of Man Financial Trust Limited has been appointed, in place of Standard Bank Trust Company (Isle of Man) Limited, as administrator of the Company. As such, the Directors announce a change in the registered office of the Company, effective immediately.

The new registered office is IOMA House, Hope Street, Douglas, Isle of Man IM1 1AP, and the new Company Secretary is Tracy Duncan.

For further information, please contact:

Dragon-Ukrainian Properties & Development plc (www.dragon-upd.com)

Tomas Fiala

+380 44 490 7120

Dragon Capital Partners Limited (Investment Manager)

Chris Kamtsios 

+380 44 490 2021

Panmure Gordon (UK) Limited (Nominated Adviser and Broker)

Richard Gray / Andrew Potts

+44 (0)20 7886 2500

Isle of Man Financial Trust Limited

+44 (0)1624 681250

Tracy Duncan