29 December 2009 

EQUEST BALKAN PROPERTIES PLC

("EBP" or the "Company") 

Sale of Euro Car Park

EBP announces that it has today entered into an agreement for the sale of its 75 per cent. subsidiary, Trigon Properties BV, the owner of Euro Car Park, a mixed use development site in Bucharest, to Hilburg International Limited.  Under the terms of the agreement, the total consideration payable by the purchaser in relation to EBP's 75 per cent. stake in the development amounts to Euro 0.5 million in cash (equivalent to the Directors' valuation of the investment at 30 June 2009), plus the provision of a cash backed guarantee amounting to Euro 320k to a local authority which releases the security previously provided by EBP. The cash proceeds will be used by EBP to strengthen its working capital.  

Completion of the sale is expected in early January. 

-ENDS-

 Further information, please contact:

Arbuthnot Securities Limited (NOMAD and broker)

+44 (0)20 7012 2000

Alastair Moreton

Hannah Pearce

IOMA Fund and Investment Management Limited (Administrator to EBP)

+44 (0)1624 681250

Graham Smith