THE OTTOMAN FUND LIMITED

For immediate release
02 July 2008

Notice of Termination of Management Contract

On 1 November 2007, the Board announced that the Company would realise assets in a managed way over the next 18 - 24 months, returning proceeds to shareholders, which is still the intention of the Board. In the light of this policy and in order to reduce costs, the Board gave notice on 30 June 2008 to the Manager to terminate the management agreement with effect from 31 December 2008.

List of Contacts

Numis Securities Ltd      020 7260 1000
Nick Westlake

Secretary      01534 709108
Jeremy Hamon