THE OTTOMAN FUND LIMITED

For immediate release
15 April 2012

Update on Asset Sale

Further to the announcements released on 5 April 2011 and 13 January 2012, The Ottoman Fund Limited (the “Company”) is pleased to announce the completion of the sale of its entire interest in the Kazikli joint venture for a total consideration of USD$9.5 million in cash. The sale concluded on 18 April 2012. In accordance with the Company’s policy, all excess cash will be returned to shareholders. A further announcement will follow.

Enquiries:

Singer Capital Markets     020 3205 7500
James Maxwell

Vistra Fund Services Limited     01534 504 700
Company Secretary