Eastern European Property Regulatory News (EEP)

18 Jul 2006 15:16

Eastern European Property Fund Ltd18 July 2006 EASTERN EUROPEAN PROPERTY FUND LIMITED - ACQUISITION Eastern European Property Fund Limited ("EEPF") announces the acquisition of the6th Floor of Misir Apartment Building on Istiklal Street, Beyoglu, Istanbul, forUS$1.5 million. Istiklal Street is one of the main thoroughfares in the Beyoglu area of Istanbulwhich is the city's major commercial centre. The property which is of historicalimportance includes existing renovated office accommodation. The floor has a total area of 919 square metres which includes a terrace.Currently in need of internal renovation and upgrading it is the intention ofEEPF to renovate to a high standard prior to letting the property as officeaccommodation. EEPF, which commenced trading on AIM on 23rd March 2006 was formed to establisha property investment portfolio in Bulgaria, Romania, Turkey and Ukraine. EEPFintends to invest in a range of office, retail, industrial and residentialproperties in the target countries. For further information contact: Collins Stewart Fund Management Limited2nd FloorNo. 1 Le TruchotSt Peter PortGuernseyGY1 4AE This information is provided by RNS The company news service from the London Stock Exchange