Return of Capital

the OTTOMAN FUND LIMITED (the "Company")

Return of Capital

Further to the announcements made on 21 May 2012 and 3 July 2012, the Board of Directors of the Company is pleased to announce the return of £ 3.19 million of capital, or 2.36709 pence per share, to shareholders of record as at 1 June 2012, with payment expected to be made on 30 July 2012 or as soon as possible thereafter.

This payment comprises the remainder of the Kazikli proceeds as well as any excess cash on the Company's balance sheet.

Enquiries

Singer Capital Markets 020 3205 7500

James Maxwell/Matt Thomas

Company Secretary 01534 504 735

Vistra Fund Services Limited