Transaction in Own Shares

26 October 2011

Eastern European Property Fund Limited (the "Company")

Share Buyback

The Company hereby announces that, on 26 October 2011, 200,000 ordinary shares of 1p each in the Company ("Ordinary Shares") were repurchased at 70 pence per share, all of which will be cancelled.

Following this transaction, the issued share capital of the Company will be 18,636,250 Ordinary Shares.

For reporting under the FSA's Disclosure and Transparency Directive Rules the market should use the figure of 18,636,250 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

Enquiries to:

Enquiries to:

Tom Fyson

Liberum Capital Limited

Tel: +44 203 100 2000

Website: www.eepfl.com