10 November 2009 

EQUEST BALKAN PROPERTIES PLC

("EBP" or the "Company") 

Sale of Serdika

EBP today announces that it has entered into an agreement for the sale of its controlling interest in Serdika, its mixed use development site in Sofia, to Agriway Holdings Limited. Under the terms of the agreement, the total consideration payable in relation to the development amounts to Euro 9.175 million in cash, of which Euro 7.34 million is attributable to EBP. The proceeds are expected to be received on 11 November 2009. The proceeds receivable by EBP are in line with the Directors' valuation of EBP's investment in Serdika as at 30 June 2009.

Following the sale of the asset, EBP will use the proceeds to settle the loan of Euro 5.4 million owed by EBP to Equest Investments Balkans Limited, with the balance being used to strengthen working capital.

-ENDS-

 Further information, please contact:

Equest Partners Limited (for Equest Balkan Properties plc)

+4420 7240 7600

Michel Uhler

Naomi Kora

Arbuthnot Securities Limited (NOMAD and broker)

+4420 7012 2000

Alastair Moreton

Hannah Pearce