Black Sea Property AS

BLACK SEA PROPERTY AS: REGISTRATION OF SHARE CAPITAL INCREASE

Reference is made to the stock exchange notice published on

12 January 2016 regarding expiry of the subscription period

in a rights issue.

The share capital increase related to the rights issue has

now been registered with the Norwegian Register of Business

Enterprises. Following the registration, the share capital

of the company is NOK 300,000 divided into 30,000,000

shares, each with a nominal value of NOK 0.01.

For further information, please contact:

Torbjørn Myhre, CEO

Tel: +47 952 57 235

About Black Sea Property AS:

Black Sea Property AS is a real estate company with partial

ownership to a real estate project on the Black sea coast

named Aheloy Residence Resort. Aheloy Residence Resort is

partially finished and will upon completion consist of more

than 1050 holiday apartments and significant commercial

areas. The company effectively owns 75% of the project.

Black Sea Property AS aims to complete the project, in order

to realize its potential value through sale of residential

units and operation as a hotel.

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