Adams Regulatory News (ADA)

Date:

20 March 2012

On behalf of:

Carpathian PLC ("Carpathian", the "Company" )

For immediate release

Carpathian PLC

Rory Macnamara, Non-executive Chairman

Via Redleaf Polhill

Carpathian Asset Management Ltd.

020 7529 6413

Paul Rogers/Balazs Csepregi

ir@carpathianam.com

Collins Stewart Europe Limited

020 7523 8350

Bruce Garrow

Redleaf Polhill

020 7566 6720

Henry Columbine / Luis Mackness

carpathian@redleafpolhill.com

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Carpathian was created in 2005 for the purpose of investing in Central and Eastern European commercial real estate.

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Carpathian's primary focus was on shopping centres, supermarkets and retail warehousing in Poland, Croatia, the Czech Republic, Hungary, Romania, Lithuania and Latvia.

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Carpathian was admitted to trading on AIM in July 2005.

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Carpathian Asset Management Ltd. ('CAM') is the Property Investment Adviser to Carpathian. CAM, which was previously owned as to 50% by the Company, became fully externalised when the Company and CPT LLP implemented the new portfolio management agreement on 1 March 2010. CAM is responsible for managing the remaining core portfolio of assets and transactions within Central and Eastern Europe.