Directorate Change

Dragon-Ukrainian Properties & Development plc

(the "Company" or "DUPD")

15 July 2011

Directorate change

Dragon-Ukrainian Properties & Development plc,a leading investor in the real estate sector in Ukraine, today announces that Mr Christopher Watson has tendered his resignation as a non-executive director of the Company with immediate effect, in order to concentrate on his professional obligations at Finisterre Capital LLP.

The Board would like to express its gratitude to Mr. Watson for his valuable contribution to the Company's management through the time he has served as a member of the Board of Directors.

For further information, please contact:

Dragon-Ukrainian Properties & Development plc (www.dragon-upd.com)

Tomas Fiala

+380 44 490 7120

Dragon Capital Partners Limited (Investment Manager)

Chris Kamtsios 

+380 44 490 2021

Panmure Gordon (UK) Limited (Nominated Adviser and Broker)

Richard Gray / Andrew Potts

+44 (0)20 7459 3600