Intercapital Property Development ADSIC, a company incorporated and conducting business in the Republic of Bulgaria, registered with the Commercial Registry by the Bulgarian Registration Agency under number EIK 131397743, having its seat and registered address in Sofia, 7a Aksakov Street, floor 4 (hereinafter referred to as "ICPD") reports that on June 06, 2011 the Company's Board of Directors took a decision to start negotiations for sale of the Company's own land property and the apartment-hotel complex "Grand Borovets" which has been built over it, located in the Borovets Resort at an initial price not lower than EUR 5 000 000.

Legal basis: § 17 Section 3 of the Alternative Trading System Rules NewConnect