Eastern European Property Fund Ltd - Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:			Eastern European Property Fund Limited
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Disclosure of holdings to accurately reflect shares outstanding.			X
3. Full name of person(s) subject to the notification obligation:		Insight Investment Management [Global] Limited
4. Full name of shareholder(s) (if different from 3.):		N/A
5. Date of the transaction and date on which the threshold is crossed or reached:		22 March 2010
6. Date on which issuer notified:		13 May 2010
7. Threshold(s) that is/are crossed or reached:		Directly exceeded 12%

8. Notified details: ISIN GB00B0XQ3R24

A: Voting rights attached to shares

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights

Direct

Indirectⁱ

Direct

Indirect

Ordinary Shares GB00B0XQ3R24

2,327,500

12.00%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/
Conversion Period

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date

Exercise/
Conversion period

Number of voting rights instrument refers to

% of voting rights

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

2,327,500

12.00%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
N/A

Proxy Voting:
10. Name of the proxy holder:		N/A
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A

13. Additional information:	N/A
14. Contact name:	Nicholas R. Darrow
15. Contact telephone number:	412-236-7733