Notice of AGM

The Black Sea Property Fund Limited

(the "Company")

Notice of Annual General Meeting

The Company announces that it has posted to shareholders notice of its Annual General Meeting ("AGM") to be held at 10.00am on 11 June 2015 at 4th Floor, St. Paul's Gate, 22-24 New Street, St. Helier, Jersey JE1 4TR.

The notice of AGM can be viewed on the Company's website: http://www.blackseapropertyfund.com.

For further information please contact:

The Black Sea Property Fund Limited

Alex Borrelli, Chairman Tel: +44 7747 020600

Cairn Financial Advisers LLP Tel: +44 20 7148 7900

Nominated Adviser

Sandy Jamieson

Peterhouse Corporate Finance Limited Tel: + 44 20 7469 0930

Sole Broker

Charles Goodfellow, Heena Karani