BPD Bulgarian Prop.

RNS Number:4922N
Bulgarian Property DevelopmentsPLC
08 December 2006



FOR RELEASE                           7.00am                          8 DEC 2006



                      BULGARIAN PROPERTY DEVELOPMENTS PLC
                                        
                                        
                             ("BPD" or "the Group")
                                        
                                        
 (The Group is primarily focussed on the development of commercial property and
      in particular building distribution centres and offices in Bulgaria)


                      Notice of Annual Report and Accounts


The Board of Bulgarian Property Developments plc announces that the report and
accounts of the company for the year ended 30 June 2006 have been posted to
shareholders. Copies will be available to the public, free of charge, for a
month from the date hereof at the offices of CK Corporate Services Ltd, 443
Stroude Road, Virginia Water, Surrey GU25 4BU.





Enquiries:

Bulgarian Property Developments
Ivo Hesmondhalgh (Joint Chief Executive)                    +44 (0) 20 7243 1336

Bulgarian Property Developments
Philip Pashov (Joint Chief Executive)                         +359 (0) 963 13 59

Cubitt Consulting
Brian Coleman-Smith / Nia Thomas / Allison Reid             +44 (0) 20 7367 5100

Matrix Corporate Capital Limited                            
Stephen Mischler                                            +44 (0) 207 925 3393




Notes to Editor:

Bulgarian Property Developments:

Bulgarian Property Developments floated on AIM in January 2005, raising #4.2
million net. A further #32.9 million net was raised in January 2006. BPD is
primarily focused on commercial property development as opposed to residential.

Inheritance Laws in Bulgaria have given rise to fragmented land ownership. There
are therefore considerable difficulties in assembling commercially viable sites
exist. BPD has taken advantage of this opportunity to consolidate small land
plots into larger ones for commercial development and had previously acquired 33
plots in the Sofia area the majority of which have been consolidated into four
sites for commercial development.

Following the fund raising in January 2006, BPD has been seeking to acquire
larger sites for commercial development.

A strong management team with cultural knowledge and connections in Bulgaria has
facilitated has been requited.


Background on the Bulgaria and the Property Market:


Bulgaria is in a transitional period, moving from a command to a market economy.
Bulgaria is joining the European Union in 2007, which should be favourable for
the Bulgarian property market. Bulgaria joined NATO in 2004. The Bulgarian
economy is growing strongly and Bulgaria is a politically stable country. It
continues to develop with GDP growth estimated for 2005 of 5.4%. The Lev has
been pegged to the Deutsche Mark since 1997 and the Euro since the Euros
introduction as Euro 1: Lev 1.9558.


Exchange rate used to convert: #1.00 = Euro 1.48



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

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