OTM Ottoman

RNS Number:8073S
Ottoman Fund Limited (The)
22 April 2008

22 April 2008

                            The Ottoman Fund Limited

          Realisation of assets and amendment to Management Agreement


On 1 November 2007 the Board of the Ottoman Fund announced that the Company's
real estate projects (located in Alanya, Golturkbuku/Bodrum, Kazikli and Riva)
were to be progressively realised in a managed way over eighteen to twenty-four
months.



The Company and its advisers are in discussions with investors who have
expressed interest in the assets. Summary information can be viewed on the
Company's website www.theottomanfund.com. Prospective purchasers include private
equity real estate investors and local and international real estate development
and investment companies.



Following discussion between the Company and Development Capital Management
(Jersey) Limited, it has been agreed that, with effect from 21 April 2008 the
notice period for termination of the Management Agreement dated 21 December 2005
will be reduced from twelve to six months. Such notice shall not, however, be
given before 28 June 2008 and the notice period reverts to twelve months from
the date it is given in the event that, prior to 31 December 2008, (i) an offer
is made to acquire control of the Company; (ii) a request is made by shareholder
(s) to appoint Directors resulting in them controlling a majority of the Board;
(iii) a resolution is passed to wind up the Company, or proceedings commenced to
make a court-approved arrangement with any of the Company's members.



List of Contacts





Development Capital Management 020 7355 7600

Tom Pridmore

Andrew Mitchell

Roger Hornett



Numis Securities   020 7260 1000

Nick Westlake




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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