Pactolus Hungarian Property plc

    (the "Company")                              

    Result of Annual General Meeting ("AGM")                  

    The Company is pleased to announce that at the AGM, which was held earlier
    today, all resolutions were duly passed.

    The total proxy votes lodged prior to the meeting in respect of the resolutions
    were as follows:

    Resolution          Votes In       Votes    Withheld      Total
    Number                Favour     Against       Votes      Votes
                                                                   
    1.                 4,777,806           0         400  4,778,206
                                                                   
    2.                 4,777,806           0         400  4,778,206
                                                                   
    3.                 4,777,806           0         400  4,778,206
                                                                   
    4.                 4,777,806           0         400  4,778,206
                                                                   
    5.                 4,777,806           0         400  4,778,206
                                                                   
    6.                 4,777,806           0         400  4,778,206
                                                                   
    7.                 3,975,140     801,666       1,400  4,778,206

    For further information, please contact:

    Asset Manager:
    Midas Investment Management Ltd
    Mark Sheppard
    Tel: 00 44 (0) 161 242 2895

    Nominated Adviser:
    Cairn Financial Advisers LLP
    Liam Murray
    Tel: 00 44 (0) 20 7148 7900