Transaction in Own Shares

8 Dec 2008 15:35



Dragon - Ukrainian Properties & Development plc

(the 'Company')

DUPD has bought back 425,000 shares

The Company announces that, pursuant to the general authority granted by shareholders of the Company on 1st December 2008 to make market purchases of its own shares, the Company made market purchases totalling 250,000 ordinary shares of 1p each on 5 December 2008 at a price of 33.75p per Share and 175,000 ordinary shares of 1p each on 8 December 2008 at a price of 33.5p per Share ("the Purchased Shares"). The Purchased Shares will be cancelled as soon as practicable following the acquisition.

The total amount of Purchased Shares to date acquired under the buy back programme totals 6,618,000 out of which 925,000 shares bought pursuant to the authority granted on 1 December 2008 and the balance under the authority granted on July 31 2008.

Following the purchase of the Purchased Shares, the Company has a total of 135,710,716 Shares in issue and with voting rights ("Voting Shares") (after deducting the 425,000 Purchased Shares bought on 5 and 8 December). The Purchased Shares represent 0.31 per cent of the Voting Shares.

Enquiries:

For further information, please contact:

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

Tomas Fiala

+380 44 490 7120

Dragon Capital Partners Limited

Chris Kamtsios: + 380 44 490 7120

KBC Peel Hunt Ltd (Nominated Adviser and Broker)

Capel Irwin: + 44 20 7418 8900

Daniel Harris