Further re-extension of loan repayment

COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE 9 August 2012

SOFIA PROPERTY FUND LIMITED

(the "Company")

Company Registration Number: 43191

Further re extension of loan repayment

The Company announced on 19 July 2012 that Pluto Partnership had agreed to extend the repayment date of the £500,000 loan made by it and applicable redemption premium to 31 July 2012.

The Company is in discussions with Pluto with a view to deferring further the repayment of such loan and crystallisation of security granted therefor. Whilst the Company continues to have positive meetings with Pluto, there can be no guarantee that such deferral will be agreed. If such deferral cannot be agreed, this would leave the Company with a working capital shortfall.

In the meantime discussions continue regarding the pre-defined qualifying event as envisaged in the announcements of 29 June 2011 and 19 July 2012.

Further announcements will be made as appropriate.

Enquiries:

Sofia Property Fund Limited

Charles Burton

Panmure Gordon (UK) Limited

Dominic Morley

Phone: +44 207 614 8388