LCSR Lewis Char. (See LSE:RPF)

    20 September 2007
                                                                                
 Lewis Charles Romania Property Fund Limited completes second acquisition since
                            listing on AIM in August
                     ("Lewis Charles Romania" or "the Fund")

    Second acquisition completed since the Fund listed on AIM in August 2007

Lewis  Charles  Romania Property Fund Limited (AIM: LCSR), the Romanian  focused
property  investment fund, which started trading on AIM in August 2007 has  just
completed its second acquisition in Romania and has now invested over 80% of the
money raised at launch.

The  Lewis Charles Romania Property Fund Limited announced today that they  have
now  completed  the  acquisition of 50% of SC Gold  SPV  SRL  ("Gold")  for  Euro13
million.   Gold  owns  a  55,700 sq m site at Mogosoaia,  on  the  outskirts  of
Bucharest.  The  project  is  a  50/50 joint venture  with  Alchemy  Development
Management.  In the late 17th century, Constantin Brancoveanu bought  some  land
here and built the Mogosoaia Palace which can still be seen today and is one  of
Bucharest's top tourist attractions.

Planning  has been approved for a high density residential project on the  site.
The  development  will comprise over a thousand apartments  in  14  blocks  plus
associated  retail and leisure facilities.  The project will be  phased  over  a
time  period of 4 years and is expected to commence in early 2008. The Developer
responsible  for  the  project  is  Alchemy  Development  Management.    Alchemy
Development  Management  is  headed by Ali Chemais who  was  previously  General
Manager of Mivan-Kier.

Loraine Pinel and Mark Anderson who manage the fund commented today "We are very
excited  at  this acquisition.  Alchemy Development Management is  a  first-rate
company with which to work - they possess a wealth of market knowledge, have  an
established  network  of  local  contacts  and  demonstrate  excellent   project
management skills.  We look forward to a long and fruitful relationship".

Ali  Chemais,  CEO of Alchemy said "its great to work with an organisation  like
the  Lewis  Charles Romania Property Fund Limited which understands the  country
and the culture and appreciates what Romania offers to property investors".

For further information please contact

Ed Portman, Leesa Peters,Conduit PR
+44 (0) 207 429 6607 / +44 (0) 7733 363 501

Loraine Pinel, Mark Anderson, Lewis Charles Securities
+44 20 7456 9100/ +44 (0) 7876 560 787

Mark Ashurst, Canaccord Adams
+44 20 7050 6500

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