FairPlay Properties REIT filed in the Financial Supervision Commission a new Prospectus for a Capital Increase

The Company filed in the FSC its prospectus for a Capital Increase until BGN 60.840 million

Sofia, December 5, 2007.

  FairPlay Properties REIT has started the construction of five more villas from Stage III of the Holiday complex “Santa Marina” in the town of Sozopol. BGN 7 788 197 excl. VAT will be invested in these buildings. The information became public from the signed today Additional Agreement to the Construction Contract for “Santa Marina” Stage III.

 As a result the Fund already has 12 villas from Stage III, all built in the typical for “Santa Marina” original architectural style of the Bulgarian Renaissance from 17 – 19 century with traditional for Sozopol materials. The third stage is bigger than the first two altogether. Its constriction will continue until 2011, but the sales of the apartments are expected to begin in 2008.

 FairPlay Properties REIT filed in the Financial Supervision Commission its prospectus for a Capital increase from BGN 50.700 million to BNG 60.840 million by issuing 10.140 million new shares, with nominal value BGN 1.00 and issue value BGN 2.25 per share. The expectations are that the increase will begin in the middle of January 2008 and will finish in the beginning of March 2008. The trade of the new shares will begin after the middle of the same month.

 For each of the old shares the Company will issue one right and for 5 rights there will be a possibility for subscribing one new security. Shortly the Company announced its expectations to distribute BGN 0.14 per share dividend for 2007 if the increase of the capital finishes after the distribution of the profit or BGN 0.12 per share if the dividend will be distributed after the increase.

FairPlay Properties REIT is the biggest in assets Company for securitization of real estate (without agricultural lands) with 14,59% market share and had fourth place towards this index from all the REITs invested in the real estates, listed on the BSE ( according the statistics of Financial Supervision Commission for the third 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% 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.