For immediate release
6 February 2014

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 Companyís last published book value for Riva.

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


N+1 Singer      020 7496 3000
James Maxwell
Matt Thomas

Company Secretary: Vistra Fund Services Limited      01534 504 700