Notification of Major Interest in Shares

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
JSE share code: NEP
ISIN Code: IM00B23XCH02
("the Company")

TR-1: Notification of Major Interest in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: New Europe Property Investments plc
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify): Issue of shares X
3. Full name of person(s) subject to notification obligation: Central Eastern European Real Estate Shareholdings BV
4. Full name of shareholder(s) (if different from 3): Maitland Advisory LLP
5. Date of transaction (and date on which the threshold is crossed or reached if different): 15 March 2010
6. Date on which issuer notified: 4.62% 24 March 2010
7. Threshold(s) that is/are crossed or reached: 4.62%
8: Notified Details
A: Voting rights attached to shares
Class/type of shares
If possible use ISIN code		 Situation previous to the triggering transaction Resulting situation after the triggering transaction
IM00B23XCH02 Number of shares 0 Number of voting rights 0 Number of shares 2,308,237 Number of voting rights Direct Number of voting rights Indirect
2,308,237 		Percentage of voting rights Direct Percentage of voting rights Indirect
4.62%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/conversion period/date No. of voting rights that may be acquired (if the instrument exercised/converted) Percentage of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument Exercise price Expiration date Exercise/conversion period/date No. of voting rights that may be acquired (if the instrument exercised/converted) Percentage of voting rights
Nominal Delta
Total (A+B+C)
Number of voting rights 2,308,237
Percentage of voting rights 4.62%
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
Maitland Advisory LLP, as Escrow Agent, holds the relevant 2,308,237 shares pursuant to an Escrow Agreement which provides that Maitland Advisory LLP votes at the general meetings based on the instructions from Central Eastern European Real Estate Shareholdings BV ("CEERES") delivered via its authorised representative.
The relevant shares are held in escrow as security in relation to a sale and purchase agreement between, amongst others, the Issuer as purchaser and Central European Real Estate Shareholdings BV as one of the sellers. Maitland Advisory LLP has no beneficial interest in the shares and such shares will depending upon satisfaction or non- satisfaction of the escrow conditions be transferred either to CEERES or to the Issuer. In the interim the sellers may exercise the relevant voting rights.
Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14 Contact name: Rupert Weber, Maitland Advisory LLP
15. Contact telephone name: +44 (0)20 3077 1234

26 March 2010

For further information please contact:

New Europe Property Investments plc
Martin Slabbert		 +40 74 432 8882
Smith & Williamson Corporate Finance Limited
Azhic Basirov / Charles Combe		 +44 20 7131 4000
South African sponsor
Java Capital (Proprietary) Limited		 +27 11 283 0042