Sale of a Portion of Riva Land

1 November 2013

THE OTTOMAN FUND LIMITED

Ottoman Fund Announces Sale of a Portion of its Riva Land

The Ottoman Fund Ltd. is pleased to announce that it has sold 106,207 m² of its Riva land parcel for $12 million plus VAT to EAG Tourism & Construction AS. The sale price is at a small premium to the Company's last published book value. The Ottoman Fund expects that the entire $12 million minus a 1% fee to Ottoman Fund's investment advisor will be available for distribution to shareholders following a court approved capital reduction in Turkey. It is expected that the court approval will occur within three months. Following this transaction, 824,793 m² of Riva land remain available for sale or development.

Enquiries

N+1 Singer 020 7496 3000

James Maxwell/Matt Thomas

Company Secretary

Vistra Fund Services Limited 01534 504 700