For immediate release
20 May 2008

Interim Results for the period ended 29 February 2008

The Ottoman Fund, which invests in the development of local housing and holiday homes in the major cities and coastal resorts of Turkey, is pleased to announce its interim results for the six months ended 29 February 2008.

The Fund is managed by Development Capital Management (Jersey) Limited.

Copies of the Financial Statements are currently being printed and will be sent to shareholders shortly. They may also be obtained free of charge from Development Capital Management Limited, 36 Dover Street, London, W1S 4NH.

For further details please contact:

Development Capital Management     020 7355 7600
Roger Hornett
Tom Pridmore
Andrew Mitchell

Numis Securities Ltd      020 7260 1000
Bruce Garrow
Nick Westlake