Black Sea Property AS

BLACK SEA PROPERTY AS: LAST DAY OF SUBSCRIPTION PERIOD

Reference is made to previous stock exchange announcements

made by Black Sea Property AS ("BSP" or the "Company") and

the general meeting's decision of 8 March 2017 to resolve a

rights issue in amount of NOK 22.5 million (the "Rights

Issue").

The subscription period for the Rights Issue ends today, on

27 March 2017 at 16:00 CET. Subscription rights that are not

subscribed within the end of the subscription period will

lapse automatically and hold no value.

For further information please contact:

Egil Melkevik, Chairman

Tel: +47 90 77 09 76

About Black Sea Property AS:

Black Sea Property AS is a real estate company with holdings

in a real estate project on the Black Sea

coast called Aheloy Beach Resort. Aheloy Beach Resort is a

partially-completed project and will upon

completion comprise over 1,000 apartments as well as

significant commercial space. Black Sea Property AS owns

indirectly 75% of the project. Black Sea Property AS will

work to finalize Aheloy Beach Resort, to realize the

project's added value through the sale of residential units

and hotel operations.

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