Orchid Developments Group Limited (the 'Company') 

Disposal completion

Further to the announcement made on 14 November 2008 regarding the sale of Yavor Zlatni AD, a subsidiary company which owns the Yavor hotel, the Company is today announcing that it has completed the sale for a consideration of EUR 9.37 million. The Company has received EUR 8.87 million and should receive the balance, still held in escrow, within 3 to 6 months pending the cancellation through the courts of a null share certificate. 

Enquiries: 

Orchid Developments                                                                                               +359 2 981 9955

Guy Meyohas

Shore Capital and Corporate Limited                                                                            020 7408 4090 

Dru Danford 

Citigate Dewe Rogerson                                                                                                020 7638 9571

Sarah Gestetner

Nicola Smith