Holding(s) in Company

Dragon-Ukrainian Properties & Development plc

(the 'Company')

03 January 2012

Holding(s) in Company

The Company was notified on 30 December 2011 by Weiss Asset Management ("Weiss") that it held the following positions in the Company through funds it acts as investment manager to:

• Brookdale International Partners, L.P. : 3,082,800 Shares (2.82 %)

• Brookdale Global Opportunity Fund : 1,321,200 Shares (1.21 %)

Weiss acquired its holdings on 20 October 2011 for 34.5 pence per Share as announced on 24 October 2011. As a result of the reduction in the issued share capital of the Company due to the tender offer announced on 25 October 2011, Weiss's percentage holding in the Company through Brookdale International Partners, L.P and Brookdale Global Opportunity Fund increased from 2.62% to 2.82% and 1.12% to 1.21% respectively.

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