Fabian Romania Property Fund Limited - Regulatory Announcement - Admission to AIM

Hamilton, Bermuda: December 14, 2006 - 2006 Fabian Romania Property Fund Limited - Admission to AIM

In November 2006, the holders of investment shares and voting shares in Fabian Romania Property Fund Limited (the "Fund") passed resolutions to, amongst other things:

· convert the Fund from a Jersey expert fund to a Jersey ordinary unclassified fund conditionally on the approval of the Jersey Financial Services Commission (the "JFSC") and admission ("Admission") of the Fund's share capital to the AIM market of the London Stock Exchange;

· subdivide the investment shares of ‚¬0.001 each in the capital of the Fund into ordinary shares of ‚¬0.00001 each in the capital of the Fund ("Ordinary Shares") conditionally on Admission; and

· empower the directors of the Fund to allot new Ordinary Shares pursuant to a placing which would itself be conditional on Admission.

Following a successful fund-raising and receipt of approval from the JFSC for the conversion of the Fund into an ordinary unclassified fund, the Fund's share capital is now expected to be admitted to AIM on 15 December 2006.  From Admission, all of the Fund's investment shares will be redesignated as Ordinary Shares under international security identification number (ISIN) JE00B1G3K654 and will cease to be subject to the qualified investor restriction previously imposed under the Listing Regulations of the Bermuda Stock Exchange.  The Fund will, however, continue to maintain a secondary listing of the Ordinary Shares on the Bermuda Stock Exchange.

A further announcement will be made in due course.

For further information:

Fabian Romania Property Fund Limited
Mark Holdsworth    + 44 (0)20 7499 9988

Pelham Public Relations
Archie Berens/Hugh Barker   +44 (0)20 7743 6670

This announcement does not constitute an offer to buy or to subscribe for, or the solicitation of an offer to buy or subscribe for, shares in Fabian Romania Property Fund Limited.  These shares have not been, and will not be, registered under the United States Securities Act of 1933 as amended (the "Securities Act"), or qualified for sale under the laws of any state of the United States or under the applicable laws of any of Canada, Australia, the Republic of Ireland or Japan and may not be offered or sold to the United States or to, or for the account or benefit of, US persons (as such terms are defined in Regulation S under the Securities Act) or to any national, resident or citizen of Canada, Australia, the Republic of Ireland or Japan, or to any corporation, partnership or other entity created or organised under the laws thereof, or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement.

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