Further re EGM

Dragon - Ukrainian Properties and Development Plc ("DUPD" or the "Company")

21 September 2012

Further to the announcement dated 20 September 2012, DRGN Limited wishes to notify shareholders of the Company that the Isle of Man High Court has today granted the Order.

Accordingly, the extraordinary general meeting of the Company is to be held at 12:00 pm on 28 September 2012, for the purpose of appointing a Board of Directors to the Company (the "Extraordinary General Meeting").

Further to the announcement made yesterday, the circular to shareholders has been posted to shareholders today and a copy of the circular is available on the Company's website: www.dragon-upd.com using the following link http://dragon-upd.com/investor-information/important-information/admission-document-and-circulars

The official notice from the Isle of Man High Court and the form of proxy for the extraordinary general meeting will be posted to shareholders of the Company on 24 September 2012 and a copy of these documents will be available on the Company's website: www.dragon-upd.com using the following link http://dragon-upd.com/investor-information/important-information/admission-document-and-circulars

Shareholders urgent attention and action is required to complete and return the proxy form by post to Standard Bank House, One Circular Road, Douglas, Isle of Man IM1 1SB, or by fax to +44 1624 643802, as soon as possible and, in any event, no later than 11:30 am on 28 September 2012.

Contact

DRGN Limited

Tomas Fiala +380 44 490 7120

Dragon Capital Partners Limited

Chris Kamtsios +380 44 490 7120

Panmure Gordon (UK) Limited

Richard Gray / Andrew Potts +44 20 7886 2500

ENDS