Louis Charles Sofia Property Fund is Building a EUR 113 million Vacation Village Near Bansko

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Loius Charles Sofia Property, which is listed on the London Stock Exchange, signed a contract with Winslow Developments for the regulation and development of a project for the building of a vacation village near Banya, not far from the Bansko ski resort.

Winslow Developments and the Louis Charles Sofia investment fund have signed a 4-year contract for project managing. The deal is expected to generate a profit of about EUR 113 million. The subject of approval is the regulation of a parcel of 121.420 sqm during the following year, the planning and building of a vacation village and the marketing and sale of the ready parcels. At this stage the companies are negotiating about the after-sale management of the estate.

The Banya project includes parcel regulation, the building of a vacation village of detached and semi- detached houses and large apartments in two-storey and three-storey buildings. The village will offer all types of facilities for the comfort of its guests – tennis courts, swimming pools, a spa center, restaurants and bars. It will be situated on a beautiful hill offering a magnificent view of the Rila, Pirin and the Rhodope mountains.

Winslaw Developments is a Bulgarian Company which has been active on the real estate market since 2001, and has already successfully completed a number of projects in the Bansko ski resort.

In July 2006 Winslow Developments and Deutche Bank RREEF founded a joint company with the aim of developing a project for the building of over 1000 apartments in two residential areas in Sofia.

Sofia Property Loius Charles is listed in AIM (company’s code is : LCSS) which is a part of the market of the London Stock Exchange. The company has invested in the purchases of numerous parcels and residential projects in Bulgaria since it was listed in late 2005.

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