NEP                                                                             
NEP - New Europe Property Investments plc - Belrom Settlement                   
New Europe Property Investments plc                                             
(Incorporated and registered in the Isle of Man with registered number          
001211V)                                                                        
(Registered as an external company with limited liability under the laws of     
South Africa, registration number 2009/000025/10)                               
AIM share code: NEPI                                                            
BVB share code: NEP                                                             
JSE share code: NEP                                                             
ISIN:   IM00B23XCH02                                                            
("NEPI" or the "Company" or the "Group")                                        
BELROM SETTLEMENT                                                               
Shareholders are advised that NEPI has, through two of its subsidiaries,        
concluded a settlement agreement with the vendors (the "Vendors") of            
Promenada Mall Braila, situated in Romania (the "BelRom Settlement"). Under     
the terms of the BelRom Settlement, the Group will receive an early             
settlement amount of EUR 11,478,874 (the "Settlement Amount"), payable in       
cash, from the Vendors. The Settlement Amount represents amounts owed to the    
Group by the Vendors in relation to the completion of the Cinema City           
premises being delayed beyond the agreed timetable and exceeding the agreed     
budget and amounts owed or expected to be owed to the Group by the Vendors as   
a result of net operating income warranties, made by the Vendors, being         
breached.  The Settlement Amount will be recognised in the financial            
statements of the Group for the six-month period ending 30 June 2012.           
Shareholders are advised that Promenada Mall Braila is performing well and in   
accordance with the Company's expectations. The expansion referred to in        
NEPI's 2011 annual report was completed on 10 May 2012 with the opening of      
H&M and C&A. The Company is considering a further expansion phase to            
accommodate increasing demand for retail space from tenants.                    
The BelRom Settlement is not categorisable as a transaction in terms of the     
Listings Requirements of the JSE Limited.                                       
15 May 2012                                                                     
For further information please contact:                                         
New Europe Property Investments plc             +40 74 432 8882                 
Martin Slabbert                                                                 
Nominated Adviser and Broker                    +44 20 7131 4000                
Smith & Williamson Corporate Finance Limited                                    
Azhic Basirov/Siobhan Sergeant                                                  
JSE sponsor                                     +27 11 283 0042                 
Java Capital                                                                    
Romanian advisor                                +40 21 222 8731                 
SSIF Intercapital Invest SA                                                     
Razvan Pasol                                                                    
Date: 15/05/2012 16:17:01 Produced by the JSE SENS Department.                  
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