For immediate release
1 November 2013

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.


N+1 Singer      020 7496 3000
James Maxwell
Matt Thomas

Company Secretary: Vistra Fund Services Limited      01534 504 700