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 August 06, 2010 a General Meeting of the Company's Bondholders was held which took a decision for restructuring the liabilities under corporate bond issue with ISIN code BG2100019079 issued by Intercapital Property Development ADSIC through amendments in some of the parameters of the bond issue as follows:

1. Extension of the issue term with 36 months (reckoned from 14.08.2010 - till 14.08.2013);

2. The interest rate on the bond loan shall be amended to 9.5% per annum payable quarterly;

2.1. The interest amount that is due as of 14.08.2010 shall be paid out on this date at an unchanged interest rate (9%).

3. The schedule for the bond loan repayment shall be changed according to the minutes enclosed.

4. The Company is obliged to provide additional collateral for the bond issue and to meet other conditions according to the minutes enclosed.

5. The Company is entitled to repay partly or entirely the outstanding principal ahead of schedule. The repayment may be executed only on a date of interest payment and after making one-month prior notice to the bondholders. The minimum amount to be partially repaid ahead of schedule will be EUR 250,000 i.e. 5% of the full amount of the issue.

The Minutes of the General Meeting of the Bondholders is available on the Company's web-site: www.icpd.bg.