Result of EGM

Dawnay, Day Carpathian PLC, the retail commercial property investment company established to invest in Central and Eastern Europe, is pleased to announce that at its EGM held earlier today, all the resolutions, which included an increase to the authorized share capital as well as the approval of the final dividend of 4p per ordinary share in respect of the financial year ended 31 December 2006, were passed.

As a result, a total of 83,333,334 new ordinary shares (the “Placing Shares”) will be issued pursuant to the placing announced on 24 April 2007, raising approximately £100 million before expenses. Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will become effective and that dealings in the Placing Shares will commence at 8.00 am on 18 May 2007.

Enquiries:

Dawnay, Day PanTerra
Peter Klimt
Paul Rogers
Balazs Csepregi
020 7834 8060

Numis Securities
Andrew Dawber
Anthony Richardson
Bruce Garrow
020 7260 1000

Cardew Group
Tim Robertson
Catherine Maitland
020 7930 0777

The contents of this announcement, which have been prepared by the Company and are the sole responsibility of the Company, have been approved solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by Numis Securities Limited. Numis Securities Limited is regulated in the United Kingdom by the Financial Services Authority and is acting exclusively for the Company and no-one else in connection with the Placing and will not regard any other person (whether or not a recipient of this announcement) as its clients, nor will it be responsible to anyone other than the Company for providing the protections afforded to customers of Numis Securities Limited nor for providing advice in relation to the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

This announcement, including information included or incorporated by reference in this announcement, may contain “forward-looking statements” concerning the Company. Generally, the words “will”, “may”, “should”, “continue”, “believes”, “expects”, “intends”, “anticipates” or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the companies' abilities to control or estimate precisely, such as future market conditions and the behaviours of other market participants, and therefore undue reliance should not be placed on such statements. The Company assumes no obligation and do not intend to update these forward-looking statements, except as required pursuant to applicable law.