BPD Bulgarian Prop.

RNS Number:9851D
Bulgarian Property DevelopmentsPLC
18 September 2007


FOR RELEASE                                                    18 SEPTEMBER 2007



                      BULGARIAN PROPERTY DEVELOPMENTS PLC

                                    ("BPD")



   Euros 22,000,000 loan facility to fund development of Varna Logistics Park


BPD is pleased to announce that Varna Logistics AD has arranged a loan facility
with Unicredit Bulbank AD for Euros 22,000,000.


Varna Logistics AD is 50% owned by BPD and 50% by FairPlay Commercial EAD
("FairPlay Commercial"). It is the owner of the 132,500 square metre Varna
Logistics Park in Varna, on the Black Sea coast of Bulgaria.


BPD, together with FairPlay Commercial, has planned a mixed use development
providing approximately 80,000 square metres of modern warehousing and mid range
offices, together with trade showrooms. Work on the first warehouse has already
commenced and is expected to be completed and fully let by the end of this year.


The loan is for a term of 3 years, with the option to extend it once the
development is completed, and is sufficient to cover 88% of the anticipated
costs of construction of the development.


Enquiries:


Bulgarian Property Developments

Ivo Hesmondhalgh (Joint Chief Executive)                    +44 (0) 20 7243 1336

Bulgarian Property Developments

Philip Pashov (Joint Chief Executive)                         +359 (0) 963 13 59

Cubitt Consulting

Brian Coleman-Smith/James Verstringhe                       +44 (0) 20 7367 5100

Matrix Corporate Capital LLP (Nominated Adviser)

Ken Vere Nicoll                                             +44 (0) 20 7925 3388


Background Note:

BPD was incorporated in May 2004 and admitted to AIM on 4 January 2005, having
raised #4.2 million (after expenses). BPD subsequently assembled and acquired a
number of strategic sites in Sofia.

In January 2006 the Company raised a further #32.9 million (after expenses) in
new equity to enable it to acquire further and larger sites with a geographical
spread involving the major cities in Bulgaria enabling BPD to acquire land and
properties in Sofia, Plovdiv, Varna and Pleven. By June 2007 these funds were
effectively fully invested and BPD raised a further #21 million (after expenses)
for the initial phases of the development and construction of the existing
projects and for the acquisition of new projects in BPD's pipeline.

These projects are (with one exception) all for commercial development. They
will be developed for a variety of commercial uses including: warehousing,
retail centres, offices and business parks.


http://www.bpdplc.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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