PHU M&L Property

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND CONNECTED PERSONS

1.        Name of the issuer:

          Pactolus Hungarian Property Plc

2.        State whether the notification relates to (i) a transaction notified
          in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance
          with LR 9.8.6R(1) or (iii) a disclosure made in accordance with
          section 793 of the Companies Act (2006):

          Disclosure in accordance with (i) above

3.        Name of person discharging managerial responsibilities/director:

          Mark Sheppard (Investment Manager)

4.        State whether notification relates to a person connected with a
          person discharging managerial responsibilities/director named in 3
          and identify the connected person:

          Notification re person named in 3

5.        Indicate whether the notification is in respect of a holding of the
          person referred to in 3 or 4 above or in respect of a non-beneficial
          interest:

          Holding in respect of the person referred to in 3

6.        Description of shares (including class), debentures or derivatives or
          financial instruments relating to shares:

          Ordinary shares of 1p each

7.        Name of registered shareholders(s) and, if more than one, the number
          of shares held by each of them:

          Pershing Nominees Ltd (MDISA), 1,016,044 ordinary 1p shares

          Pershing Nominees Ltd (MDCLT), 4,392,430 ordinary 1p shares

8.        State the nature of the transaction:

          Share sale

9.        Number of shares, debentures or financial instruments relating to
          shares acquired:

          N/A

10.       Percentage of issued class acquired (treasury shares of that class
          should not be taken into account when calculating percentage):

          N/A

11.       Number of shares, debentures or financial instruments relating to
          shares disposed:

          5,000 ordinary shares

12.       Percentage of issued class disposed (treasury shares of that class
          should not be taken into account when calculating percentage):

          0.05%

13.       Price per share or value of transaction:

          28 pence

14.       Date and place of transaction:

          29 October 2014

15.       Total holding following notification and total percentage holding
          following notification (any treasury shares of that class should not
          be taken into account when calculating percentage):

          5,292,341 (51.30%) Ordinary shares of 1p each

16.       Date issuer informed of transaction:

          29 October 2014

17.       Date of grant:

          N/A

18.       Period during which or date on which it can be exercised:

          N/A

19.       Total amount paid (if any) for grant of the option:

          N/A

20.       Description of shares or debentures involved (class and number):

          N/A

21.       Exercise price (if fixed at time of grant) or indication that price
          is to be fixed at the time of exercise:

          N/A

22.       Total number of shares or debentures over which options held
          following notification:

          N/A

23.       Any additional information:

          N/A

24.       Name of contact and telephone for queries

          P Thomas
          Midas Investment Management Ltd
          Tel: 0161 228 1709

Date: 30 October 2014