Holding(s) in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Black Sea Property Fund Ltd

2. Reason for the notification   (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights 

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify): 

3. Full name of person(s) subject to the notification obligation:

Weiss Capital LLC

4. Full name of shareholder(s) (if different from 3.):

Brookdale International Partners LP, Brookdale Global Opportunity Fund 

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

19-Mar-2009 

6. Date on which issuer notified:

23-Mar-2009

7. Threshold(s) that is/are crossed or reached:

15%

8. Notified details:

Voting rights attached to shares

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

GB00B068H734

30,997,181

30,997,181

34,489,181

34,489,181

0

16.2%

0%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

% of voting rights

34,489,181

16.2%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

Brookdale International Partners LP: 11.2%

Brookdale Global Opportunity Fund: 5.0%

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A 

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Georgiy Nikitin

15. Contact telephone number:

+1-617-778-7725

A: Identity of the person or legal entity subject to the notification obligation

Full name (including legal form for legal entities)

Weiss Capital LLC

Contact address (registered office for legal entities)

29 Commonwealth Avenue, 10th Floor

Boston, MA 02116, USA

Phone number 

+1-617-778-7780

Other useful information (at least legal representative for legal persons)

Attn:Georgiy Nikitin

B:  Identity of the notifier, if applicable xvii

Full name 

N/A

Contact address 

N/A

Phone number 

N/A

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information

N/A