OTM Ottoman

TIDMOTM

RNS Number : 0469S

Ottoman Fund Limited (The)

01 November 2013

1 November 2013

THE OTTOMAN FUND LIMITED

Ottoman Fund Announces Sale of a Portion of its Riva Land

The Ottoman Fund Ltd. is pleased to announce that it has sold 106,207 m(2) of its Riva land parcel for $12 million plus VAT to EAG Tourism & Construction AS. The sale price is at a small premium to the Company's last published book value. The Ottoman Fund expects that the entire $12 million minus a 1% fee to Ottoman Fund's investment advisor will be available for distribution to shareholders following a court approved capital reduction in Turkey. It is expected that the court approval will occur within three months. Following this transaction, 824,793 m(2) of Riva land remain available for sale or development.

Enquiries

   N+1 Singer                                                                020 7496 3000 

James Maxwell/Matt Thomas

Company Secretary

   Vistra Fund Services Limited                                    01534 504 700 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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