TIDMSPFL 
 
1ST March 2010 
 
                           Sofia Property Fund Limited 
 
                                 (the "Company") 
 
                                   (AIM: SPFL) 
 
              Update on Sofia Kambanite Bistritsa Option Agreement 
 
The  Directors of the Company announce an update to the option agreement between 
its  wholly-owned subsidiary, Splendid Investment S.A. ("Splendid") and Enderton 
Company  Assets Inc ("ECA") in respect of Black Sea Properties EOOD  ("BSP"),  a 
company  whose  sole  asset (referred to as Sofia Kambanite  Bistristsa  in  the 
Company's accounts) is 100,713 square meters of land close to the Sofia Business 
Park near the bottom of the Vitosha mountain (the "Option Agreement"). 
 
The   Company  entered  into  the  Option  Agreement  on  21  January  2009  and 
subsequently announced on 15 December 2009 that its terms had been amended  such 
that the Option Agreement was extended until 28 February 2010 with the aggregate 
exercise  price  increasing to EUR4,700,000. There was no upfront  cost  to  the 
Company in extending the Option Agreement. 
 
The  Directors,  having explored a number of possibilities  for  exercising  the 
Option  Agreement, have decided to let the Option Agreement lapse.  The  Company 
will  focus  its  available working capital on more immediate  value  generating 
projects in its portfolio. 
 
For further information contact: 
 
Sofia Property Fund Limited 
Charles Burton 
 
Panmure Gordon (UK) Limited 
Dominic Morley 
Stuart Gledhill 
Tel: +44 (0) 20 7459 3600 
 
Conduit PR Ltd 
Ed Portman 
Leesa Peters 
Tel: +44 (0) 20 7429 6607 / +44 (0) 7733 363 501
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