Disposal

Kimberly Enterprises N.V.

('Kimberly' or 'the Company')

Disposal

The Board of Kimberly, the AIM-quoted Eastern European residential property developer (KBE.L), announces that Arces International B.V. ("Arces"), its 50% owned joint venture with Heitman LLC, has reached agreement to sell its entire interest in Palace Engel sp zoo, which owns the Zabki Project in Poland, for a total cash consideration of €850,000.

On completion of the disposal, Arces will recognize an estimated profit of €704,000, of which the Company's share will be €352,000. The proceeds of the disposal will be distributed to the joint venture partners in accordance with the terms of the joint venture agreement.

As a part of the previous year's loan agreement with Engel Resources and Development Ltd ("ERD"), the Company agreed to pledge a plot in the Wilanow district in Warsaw, Poland ("Wilanow 2"), designated for commercial purposes, in favor of ERD.

As announced in the half yearly report, during the period to 30 June 2013 an agreement to sell Wilanow 2 to a third party for a total consideration of €4.14 million was concluded.

The Company has agreed an amendment to the above agreements, according to which the net consideration of €3.5 million in aggregate for the sale of Wilanow 2 in will be deducted from the total debts of the Group to ERD.

ENDS

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