REG-Windsorville Investments Ltd Offer Update

LONDON--(Business Wire)--

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE
TO DO SO WOULD CONSITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

For immediate release

10 June 2009

CASH OFFER

by

WINDSORVILLE INVESTMENTS LTD.

for

BULGARIAN PROPERTY DEVELOPMENTS PLC

Compulsory acquisition of Bulgarian Property Developments Plc shares and closure
of Offer

On 12 February 2009, the board of directors of Windsorville Investments Ltd.
("Windsorville") announced the terms of a cash offer (the "Offer") by
Windsorville for the entire issued and to be issued ordinary share capital of
Bulgarian Property Developments Plc ("BPD") at a price of 16 pence per BPD
Share. The document setting out the background and full terms of the Offer (the
"Offer Document") was posted to BPD Shareholders on 19 February 2009. The Offer
was declared unconditional in all respects on 6 March 2009.

On 28 April 2009, having received valid acceptances in respect of, or otherwise
acquired, more than 90 per cent. in value of the BPD Shares to which the Offer
related, Windsorville posted a compulsory acquisition notice pursuant to section
979 of the Companies Act 2006 (the "Act") and an explanatory letter to BPD
Shareholders who had not yet validly accepted the Offer. The notice and
explanatory letter set out Windsorville's intention to apply the provisions of
sections 979 to 991 (inclusive) of the Act to acquire compulsorily all BPD
Shares which it did not already hold, or had not already acquired or contracted
to acquire or in respect of which it had not already received valid acceptances,
on the terms of the Offer.

The board of Windsorville is pleased to announce that, as at today's date and
pursuant to the compulsory acquisition provisions under sections 979 to 991
(inclusive) of the Act, Windsorville has now acquired 100 per cent. of the
issued share capital of BPD. Therefore, the Offer is now closed and is no longer
capable of acceptance.

Terms defined in the Offer Document dated 19 February 2009 have the same
meanings in this announcement.

Enquiries:

Douglas Armstrong, Dickson Minto W.S.
Tel: +44(0) 20 7628 4455

This announcement does not constitute a prospectus or an equivalent document and
it is not intended to and does not constitute, or form any part of, an offer or
invitation to sell or purchase or subscribe for any securities or a solicitation
of an offer to buy or subscribe for any securities or the solicitation of any
vote or approval in any jurisdiction, pursuant to the Offer or otherwise. The
Offer was made solely by means of the Offer Document and, in respect of
certificated BPD Shares, the Form of Acceptance which contained the full terms
and conditions of the Offer.

The directors of Windsorville and Joseph C. Lewis accept responsibility for the
information contained in this announcement.To the best of the knowledge and
belief of the directors of Windsorville and Joseph C. Lewis (who have taken all
reasonable care to ensure that such is the case), the information contained in
this announcement for which they accept responsibility is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

Dickson Minto W.S., which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Windsorville in
connection with the Offer and for no one else and will not be responsible to
anyone other than Windsorville for providing the protections afforded to clients
of Dickson Minto W.S., or for giving advice in relation to the Offer or any
other matter referred to in this announcement or in the Offer Document.

The Offer was not made, directly or indirectly, in or into, or by use of the
mails of, or by any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or by
any facility of any securities exchange of, the United States, Canada,
Australia, Japan or any other Restricted Jurisdiction and the Offer was not
capable of acceptance by any such use, means, instrumentality or facility or
from within the United States, Canada, Australia, Japan or any other Restricted
Jurisdiction. Accordingly, this announcement is not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, transmitted, distributed
or sent in, into or from the United States, Canada, Australia, Japan or any
other Restricted Jurisdiction.

Windsorville Invs.

Copyright Business Wire 2009