NEP                                                                             
NEP - New Europe Property Investments plc - Notification of acquisition of      
beneficial interest in shares - holding over 10%                                
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")                                                       
NOTIFICATION OF ACQUISITION OF BENEFICIAL INTEREST IN SHARES - HOLDING OVER     
10%                                                                             
For purposes of compliance with the rules of the Bucharest Stock Exchange and   
the AIM Market, shareholders are advised that the Company has received          
notification from Fortress Income 2 (Pty) Ltd of the acquisition of ordinary    
NEPI shares such that Fortress Income 2 (Pty) Ltd's total beneficial interest   
in the Company is now 10.53% of NEPI's issued ordinary share capital.           
                                                                                
Securities holder identification:                                               
- Natural person                      N/A                                       
- Legal person                        Fortress Income 2 (Pty) Ltd               
                                     Registration number: 2009/005857/07        
                                     3rd Floor, Rivonia Village                 
                                     Rivonia Boulevard, Rivonia                 
                                     Republic of South Africa                   
                                     +27 11 612 7500                            
                                                                                
- Major shareholders of the holder    Fortress Income 2 (Pty) Ltd is a          
of securities:                        wholly owned subsidiary of Fortress       
                                     Income Fund Limited which is listed        
                                     on the Johannesburg Stock Exchange.        
                                                                                
                                                                                
Number of shares previously held:     9 700 000 (as at 21 May 2012)             
                                                                                
The way in which they have been                                                 
acquired /alienated:                                                            
- on the company's set up                                                       
- trading on the secondary market                                               
- public sale offer                                                             
- public purchase / takeover bid                                                
- Authority for the Privatisation                                               
and Management of State Ownership                                               
(A.P.A.P.S) contract                                                            
- other ways                          Private placing                           
                                                                                
Number of shares held after the       13 000 000(as at 22 May 2012)             
transaction                                                                     
                                                                                
Percentage of share capital which     10.53%                                    
accounts for the shares held after                                              
the transaction and the number of                                               
votes the issuer holds within the                                               
Extraordinary General Shareholders                                              
Meeting:                                                                        
                                                                                
Date of transaction:                  22 May 2012                               
Date on which issuer was notified:    22 May 2012                               
Threshold(s) crossed or reached:      10%                                       
                                                                                
23 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                 
Intercapital Invest SA                                                          
Razvan Pasol                                                                    
Date: 23/05/2012 17:30:01 Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.