Valuation as at 31 May 2008

    RNS Number : 0530A
  Ottoman Fund Limited (The)
  29 July 2008
   

    29 July 2008
    The Ottoman Fund Limited

    Valuation as at 31 May 2008

    The Board of The Ottoman Fund Limited (the "Fund") presents its quarterly valuation for the period ended 31 May 2008. The Fund invests
in the development of local housing and holiday homes in the major cities and coastal resorts of Turkey.

                                              At 31 May    At 29 February 2008
                                                   2008  
                                                         
 Net assets                                �121,903,384           �122,404,820
 Net asset Value Per Share                        90.5p                  90.8p
                                                         
 Net assets (fair value basis)             �131,613,376           �132,114,812
 Net asset value per share (fair value            97.7p                  98.0p
 basis)                                                  

    The net asset value (fair value basis) for 29 February and 31May 2008 are based upon the independent valuation of the property portfolio
at 29 February 2008.

    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 31 May 2008                                     �121,903,384
 Increase in valuation of inventory properties                      �9,709,992
 Net assets (fair value basis)                                    �131,613,376
 Number of ordinary shares in issue                                134,764,709
 Net asset value per share as at 31 May 2008 (fair value                 97.7p
 basis)                                                         

    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

    Numis Securities Limited 020 7260 1000
    Nominated Adviser
    Nick Westlake

    Corporate Broker
    Charles Farquhar

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