Moore Capital Management



                                    FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

              (Rule 8.3 of the City Code on Takeovers and Mergers)

1. KEY INFORMATION

Name of person dealing (Note 1)                            Moore Macro Fund, LP c/o Moore Europe Capital Management, LLP
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Company dealt in                                           Bulgarian Property Developments Plc
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Class of relevant security to which the dealings being     Equity
 disclosed relate (Note 2)
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Date of dealing                                            10/8/07
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2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                                                         Long                        Short
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                                                  Number          (%)        Number      (%)
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(1) Relevant securities                             7,088,227      6.64%
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(2) Derivatives (other than options)
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(3) Options and agreements to
 purchase/sell
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Total                                               7,088,227      6.64%
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(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

       Class of relevant security:                     Long                          Short
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                                          Number      (%)               Number      (%)
--------------------------------------------------------------------------------------------------------
(1) Relevant securities
--------------------------------------------------------------------------------------------------------
(2) Derivatives (other than options)
--------------------------------------------------------------------------------------------------------
(3) Options and agreements to
 purchase/sell
--------------------------------------------------------------------------------------------------------
Total
--------------------------------------------------------------------------------------------------------

(c) Rights to subscribe (Note 3)

Class of relevant security:               Details
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3. DEALINGS (Note 4)

(a) Purchases and sales

Purchase/sale                      Number of securities              Price per unit (Note 5)
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Purchase                           25,000                            .66 GBP
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(b) Derivatives transactions (other than options)

Product name,       Long/short (Note 6)    Number of securities (Note 7)   Price per unit (Note 5)
e.g. CFD
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(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Product name,      Writing,        Number of          Exercise  Type, e.g.   Expiry    Option money
e.g. call option    selling,        securities to     price      American,   date      paid/received per unit (Note 5)
                    purchasing,     which the option             European
                    varying etc.    relates (Note 7)             etc.
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(ii) Exercising

Product name, e.g. call option     Number of securities              Exercise price per unit (Note 5)
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(d) Other dealings (including new securities) (Note 4)

Nature of transaction (Note 8)     Details                           Price per unit (if applicable) (Note
                                                                      5)
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4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other
 person relating to the voting rights of any relevant securities under any option referred to on this
 form or relating to the voting rights or future acquisition or disposal of any relevant securities to
 which any derivative referred to on this form is referenced. If none, this should be stated.
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None
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Is a Supplemental Form 8 attached? (Note 9) NO

Date of disclosure                                          10/9/07
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Contact name                                                Julie O'Neill
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Telephone number                                            20 7470 7570
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If a connected EFM, name of offeree/offeror with which
 connected
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If a connected EFM, state nature of connection (Note 10)
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Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk
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