Company Update

For Immediate Release

19 December 2014

the OTTOMAN FUND LIMITED

The Ottoman Fund Limited ("the Company") has discovered some unauthorised expense payments made from its Turkish subsidiaries. The Company believes such unauthorised expense payments amount to under US$2 million in aggregate. It has appointed forensic accountants to investigate the matter and is consulting advisers to establish whether it can recover any amounts paid.

Enquiries

N+1 Singer +44 (0)20 7496 3000

James Maxwell

Company Secretary +44 (0)1534 504 700

Vistra Fund Services Limited