PHU M&L Property

Pactolus Hungarian Property plc ("Pactolus" or the "Company")

Notice of Annual General Meeting

Notice is hereby given that the ninth Annual General Meeting of Pactolus Hungarian Property plc (the “Company”) will be held at 10.00 a.m. on Thursday 25 June 2015 at Jubilee Buildings, Victoria Street, Douglas, Isle of Man, IM1 2SH, for the purposes of considering, and if thought fit, approving resolutions 1 to 6 as Ordinary Resolutions and resolution 7 as a Special Resolution of the members of the Company.

Ordinary Resolutions:

1. To receive and adopt the Report of the Directors and audited Accounts for the year ended 31 December 2014.

2. To re-appoint CLB Coopers as Auditors to the Company and its subsidiaries (the “Group”).

3. To authorise the Directors to fix the remuneration of the Auditors.

4. That Barry Curtis Smith, a Director retiring by rotation, be re-elected as a director of the Company in accordance with s87.3 of the Articles of Association.

5. That Stephen Dillon Gray, a Director retiring by rotation, be re-elected as a director of the Company in accordance with s87.3 of the Articles of Association.

6. That the Shareholders approve the renewal of the current share buy-back facility to purchase up to 28.6 per cent of the current issued share capital, representing 2,950,774 of the current 10,316,624 Ordinary issued shares.
   
   Special Resolution:

7. That the Company’s name be changed from Pactolus Hungarian Property plc to M&L Property & Assets plc.

   Pursuant to Rule 20 the Notice of Annual General Meeting will be posted to shareholders shortly.

For further information, please contact:

Asset Manager:

Midas Investment Management Ltd
Mark Sheppard
Tel: 00 44 (0) 161 242 2895

Nominated Adviser:

Cairn Financial Advisers LLP
Liam Murray
Tel: 00 44 (0) 20 7148 7900