Valuation as at 30 Nov 2007

RNS Number:5164M
Ottoman Fund Limited (The)
24 January 2008


For immediate release                                            24 January 2008


                            The Ottoman Fund Limited


                        Valuation as at 30 November 2007
                                        

The Board of The Ottoman Fund Limited (the "Fund") presents its quarterly
valuation for the period ended 30 November 2007. The Fund invests in the
development of local housing and holiday homes in the major cities and coastal
resorts of Turkey.

                                         At 30 November    At 31 August
                                                   2007            2007

Net assets                                 �123,020,720    �137,386,660
Net asset value per share                         91.3p           91.6p

Net assets (fair value basis)              �133,236,937    �147,602,877
Net asset value per share (fair value             98.9p           98.4p
basis)


The net asset value (fair value basis) is based upon the independent valuation
of the property portfolio at 31 August 2007.


Below is set out the revaluation of the Fund's assets that is not reflected on
the balance sheet under IFRS.

Net assets as at 30 November 2007 �123,020,720


Increase in valuation of inventory properties �10,216,217


Net assets (fair value basis) �133,236,937


Number of ordinary shares in issue 134,764,709


Net asset value per share as at 30 November 2007 (fair value basis) 98.9p

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


List of Contacts


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


Buchanan Communications 020 7466 5000
Charles Ryland
Isabel Podda


Numis Securities 020 7260 1000
Bruce Garrow
Nick Westlake



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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