Return of Capital

THE OTTOMAN FUND LIMITED ("the Company")

Return of Capital

Following the completion of the sale of the Ottoman Fund's interest in Kazikili, the Company's board of directors is pleased to announce a return of capital of approximately £7.43 million or 5.5133 pence per share to shareholders of record as at 1 June 2012.

The date of the distribution will depend on fulfilling legal requirements necessarily precedent to the transfer of cash from Turkey, and the final cash amount will reflect the prevailing currency exchange rates at the time of transfer. The board currently expects that the capital distribution will be made within the next 45 days.

Further information on the capital distribution date will be announced in due course.

Enquiries

Singer Capital Markets 020 3205 7500

James Maxwell

Matt Thomas

Company Secretary 01534 504 735

Vistra Fund Services Limited