Sale of Riva Land

For Immediate Release

6 February 2014

THE OTTOMAN FUND LIMITED

The Ottoman Fund Limited

Sale of Riva Land

The Ottoman Fund Limited is pleased to announce that it has sold 505,694 m² of its Riva land for $101 per m², for a total of $51,075,094 plus VAT to Danis Tourism and Construction A.Ş., Sezen Real Estate A.Ş. and Nepa Food and Chemicals Industries and Trade A.Ş, and has given the buyers an option to purchase the remaining Riva land up to 30 May 2014 for $32,210,415 plus VAT. Taxes payable on profits from the sale of the initial parcel, primarily taxes on FX gains, are expected to be approximately $1.3 million. The sale price approximates the Company's last published book value for Riva.

The Ottoman Fund's Board of Directors expects to announce a return of capital once a capital reduction in Turkey has been completed.

Enquiries

N+1 Singer 020 7496 3000

James Maxwell/Matt Thomas

Company Secretary

Vistra Fund Services Limited 01534 504 700