Holding(s) in Company

Dragon-Ukrainian Properties & Development plc

(the 'Company')

24 October 2011

Holding(s) in Company

Finisterre Capital LLP ('Finisterre') controls ordinary shares in the Company ("Shares") though three funds it acts as investment manager to: Finisterre Global Opportunity Master Fund, Finisterre Recovery Fund 1 Limited and GAM Trading (No. 39) Inc. (together the "Funds").

The Company was notified on 21 October 2011 by Finisterre that on 20 October 2011, Finisterre sold its entire holding of 10,819,299 Shares in the Company, reducing the voting rights it controlled in the Company from 9.19% to nil.

The registered shareholders in respect of the Shares previously held by the Funds were CS Securities USA LLC and Citigroup Global Markets Inc. Principal Global Investors, LLC (a member of the Principal Financial Group) is a parent undertaking of Finisterre and was indirect holder of the Shares held prior the above transaction.

For further information, please contact:

Dragon-Ukrainian Properties & Development plc (www.dragon-upd.com)

Tomas Fiala

+380 44 490 7120

Dragon Capital Partners Limited (Investment Manager)

Chris Kamtsios 

+380 44 490 2021

Panmure Gordon (UK) Limited (Nominated Adviser and Broker)

Richard Gray / Andrew Potts

+44 (0)20 7459 3600