Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Eastern European Property Fund Limited

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

An acquisition or disposal of voting rights

No

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

No

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

 No

An event changing the breakdown of voting rights

 Yes

Other (please specify):

 No

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

Charles Stanley Group Plc

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

 Charles Stanley & Co Ltd

(Rock Nominees Ltd)

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

 27 October 2011

6. Date on which issuer notified:

 1 November 2011

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

 5%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

 GB00BXQ3R24

 935,850

935,850

 5.02%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

 935,850

5.02%

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

Rock (Nominees) Limited

Charles Stanley & Co Ltd

Charles Stanley Group Plc is the holding company of the above

Proxy Voting:

10. Name of the proxy holder:

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

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

13. Additional information:

 Total shares in issue used as denominator is 18,636,250

14. Contact name:

 Daniel Massey

15. Contact telephone number:

 020 7149 6520