BPD Bulgarian Prop.

RNS Number:7905D
Bulgarian Property DevelopmentsPLC
31 May 2006


FOR RELEASE                         7.00am                           31 May 2006

                                                                                                   
                      BULGARIAN PROPERTY DEVELOPMENTS PLC                                       
                                        
              (''Bulgarian Property Developments'' or "the Group")
                                                         
                                        
 (The Group is primarily focussed on the development of commercial property and
in particular building pre-let warehousing, distribution centres and offices in
                                    Bulgaria)
                                        
                 Keith Springall appointed as Finance Director


Bulgarian Property Developments, the company focused on the development of
commercial property in Bulgaria, announces that Keith Springall F.C.A has today
been appointed Finance Director.

Keith Springall, age 50, brings great experience to the board having served 
previously as Finance Director of Bartercard plc, the global business to 
business trade exchange which acts as a facilitator and marketplace for barter 
transactions and Indus International Limited, the UK subsidiary of the NASDAQ 
quoted software and services company.  Earlier in his career, he worked for 
Jardine Matheson subsidiaries in Asia and Australia.

Christian Williams, the Chairman of Bulgarian Property Developments, commented:

"We are delighted that Keith Springall has joined the board. Keith, with his
financial skills and international experience will complement and strengthen an
already excellent management team."

Save as disclosed below, there are no further details required to be disclosed
pursuant to schedule 2 (g) of the AIM rules

Keith John Springall, F.C.A, age 50

Other Directorships

Current                                         Within the last five years

Belahray Consultancy Ltd                        Indus International Limited
Molecob Limited                                 PST (International) Limited
WFMH UK Limited                                 Bartercard plc


Keith Springall resigned from PST (International Limited ("PST") in February
2004. PST and its subsidiaries were placed in administration in June 2004 and
are now in liquidation.


Enquiries:

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


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


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. Bulgarian
Property Developments 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. Bulgarian Property Developments has
taken advantage of this opportunity to consolidate small land plots into larger
ones for commercial development. The company has already negotiated ownership of
33 plots and the majority have been consolidated into four sites for commercial
development. A strong management team with cultural knowledge and connections in
Bulgaria has facilitated such negotiations.


Background on the Bulgaria and the Property Market:


Bulgaria is in a transitional period, moving from a command to a market economy.
Bulgaria has applied to join the European Union in 2007, which should be
favourable for the Bulgarian property market. 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%.



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

END
BOAEAXSEDAKKEFE

Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jun 2024 to Jul 2024

Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jul 2023 to Jul 2024