Holding(s) in Company

Eastern European Property Fund Limited (the "Company")

Holding in Company

The Company was notified on 15 September 2010 that, as at the same date, Spearpoint Limited ("Spearpoint"), through its nominee, Secure Nominees Limited, holds 8,282,821 ordinary shares in the Company ("Ordinary Shares"), representing 43.16% of the shares in issue with voting rights attached. Of these, 5,240,321 Ordinary Shares, representing 27.31% of the issued share capital, are managed on a discretionary basis, on behalf of customers of Spearpoint.

In addition, Spearpoint has a discretionary mandate over a further 575,000 Ordinary Shares, representing 3.00% of the issue share capital, which are not registered in the name of Secure Nominees Limited.

The Takeover Panel has previously confirmed that, pursuant to note 1 of Rule 37.1 of the City Code, as a result of the share buy-back announced on 13 July 2010 increasing Spearpoint's discretionary holdings over 30%, there are no Code consequences and there is no requirement for Spearpoint to make a mandatory offer for the Company under Rule 9 of the City Code.

Enquiries to:

Steve Pearce

Liberum Capital Limited

Tel: +44 203 100 2000

Website: www.eepfl.com