“FairPlay Properties” REIT increases its capital with 10.14 million new shares

The Company will become the biggest REIT in registered capital after the subscription of the whole emission

Sofia, 6 November 2007.

On the 5 November 2007, The Board of The Directors of “FairPlay Properties” REIT decided to increase the capital of the company from BGN 50.700 million to BGN 60.840 million through an issue of 10.140 new shares of BGN 1.00 nominal value and issuing value BGN 2, 25 issuing value each.
           “FairPlay Properties” will start the new 2008 with the fourth increase of its capital. The Fund will become the biggest REIT in registered capital if the whole new emission will be subscribed. The new emission will amount one fifth from the all the emissions until present. For every share hold will be issued one right and five rights will enable the subscription of one new share.
             “We proved our capacity to invest in profitable assets as the Holiday Village “Santa Marina” in the town of Sozopol. This increase of the capital will ensure the adequate shareholders` capital for financing of the new projects of the Company for 2008. The issuing value is calculated so the capital not to be padded and in the same time, there will not be transmission of amounts from the new shareholders to the new ones by sales of rights. The aim is the new resource to become a capital for the Fund.”, said Mr. Manu Moravenov, CEO of “FairPlay Properties” REIT

All the new shares will be from the same class with the previous issued –namely ordinary, registered, dematerialised, voting shares giving right on dividend and liquidation dividend, proportional of the nominal value of the share. Manager of the increase shell be the Investment Intermediary  “Capman”.
 “FairPlay Properties” will diversify its assets with a new project for a Residential Complex closed type in the ancient balneological center Sandanski, was announced in the end of October 2007. The investment amounts BGN 21 million and will diversify the portfolio of Sea and Mountain Holiday Villages of the Company. A week earlier, the Fund published the most successful statement until this moment. BGN 7,9 million net profit was announced and close to BGN 6 million for dividends, half of which were realized thorough the third quarter of 2007. As of 30 September 2007, the Company manages assets having balance sheet value of BGN 82.691 million and its market capitalization as of the same date is BGN 111.540 million. The present projects include 2 Holiday Villages in Sozopol, one in Chernomoretz, in Bansko and in Panichishte.

          ”FairPlay Properties” REIT is the biggest in assets Company for securitization of real estate (without agricultural lands) with 15,39% market share and had third place towards this index from all the REITs listed on the BSE ( according the statistics of Financial Supervision Commission for the second quarter of 2007).
“FairPlay Properties” has an award from the Investor‘s Association for “The Best Corporate Governance of REIT`s 2006”
“FairPlay Properties” REIT is listed on the Bulgarian Stock Exchange – Sofia on 17 February 2006. The main shareholder in the Company is “FairPlay International” JSC with 65, 5% quota in the capital. The other shareholders are Institutional Investors (9 Pension Funds, 15 Mutual Funds, and Investment Companies) and 220 physical persons and Legal Entities, small investors.