Results of the Annual General Meeting

Eastern Property Holdings Limited (EPH) /
Results of the Annual General Meeting
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Held 21 June 2011, Andaz Hotel Liverpool Street, London EC2M 7QN


Eastern  Property  Holdings  Limited  ('EPH'),  a  real  estate  investment  and
development  company focusing on Russia and CIS, held its Annual General Meeting
('AGM'). All resolutions proposed were passed.

Gustav Stenbolt, Chairman of the meeting, said:

"This AGM approved a number of important resolutions to strengthen the corporate
governance  of Eastern  Property Holdings.  We are  delighted to welcome two new
independent  non-executive directors - Kirill  Rubinski and Bernard Sucher. Both
Kirill  and  Bernard  are  highly  experienced  and  deeply respected members of
Russia's  business community.  I look  forward to  the greater  independence and
rigor  they will bring to EPH's governance. The Board of Directors will build on
today's  progress to further improve EPH's  corporate governance over the coming
months."
 The following resolutions were duly passed by the AGM:

1.   Approval of the Annual Report for the year ended December 31, 2010

2.   Re-Election of Ernst & Young Ltd as EPH's auditor for one year.

3.   That the Directors' proposal that no dividend is paid for the year ending
31 December 2010 is approved.

4.   Amendment of Article 9.4: Term of Director's Election. An amendment to the
proposed resolution was accepted. The Article shall read:

"Subject to Article 9.5, each director holds office for the term fixed by the
resolution appointing him. The term can be up to three years, and re-election is
permissible."

5.   The term of current board members, who were elected for an indefinite
period, is now three years. Their terms will expire as of the 2014 Annual
Shareholders' Meeting.

6.   Amendment of Article 14.3: Conflicts of Interest. The Article shall read:

"A director of the Company who is interested in a transaction entered into or to
be entered into by the Company cannot vote on the matter. The director may:

a) attend a meeting of the directors at which a matter relating to the
transaction arises and be included among the directors present at the meeting
for the purposes of a quorum; and b) sign a document on behalf of the Company,
or do any other thing in his capacity as a director, that relates to the
transaction, and, subject to compliance with the Act shall not, by reason of his
office be accountable to the Company for any benefit which he derives from such
transaction and no such transaction shall be liable to be avoided on the grounds
of any such interest or benefit."

7.   Introduction of Article 7.6 - 7.8: Reporting of Significant Shareholdings.
The following provisions will be added:

"7.6 A Shareholder must notify the Company of the percentage of its shares
outstanding he holds, directly or indirectly (or on account of another person
who is a direct or indirect Shareholder), if such aggregate ownership reaches,
exceeds or falls below 3%, 5%, 10%, 15%, 20%, 25%, 33%, 50% or 66% as a result
of an acquisition or disposal of shares or any other form of financial
instrument or derivative which results in an entitlement to acquire, on such
Shareholder's own initiative alone, shares of the Company.

7.7 Any notification required to be made to the Company pursuant to this Article
7 shall be effected as soon as possible, but not later than two business days
after the change of ownership.

7.8 If it shall come to the notice of the directors that any Shareholder has
not, within the requisite period, made any notification required by Article
7.6, the Company may (at the absolute discretion of the directors) at any time
thereafter by notice (a "restriction notice") to such Shareholder direct that,
in respect of the shares in relation to which the default has occurred (the
"default shares" which expression shall include any further shares which are
issued in respect of any default shares), the Shareholder shall not be entitled
to be present or to vote on any question, either in person or by proxy, at any
general meeting of the Company or separate general meeting of the holders of any
class of shares of the Company, or to be reckoned in a quorum, for a period of
up to five (5) years after the date of the restriction notice."

8.   To elect Mr. Kirill Rubinsky to the board of directors for a three year
term

9.   To elect Mr. Bernard Sucher to the board of directors for a three year term



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Eastern  Property  Holdings  Ltd.  is  an  SIX Swiss Exchange-listed real estate
development  company focusing on Russia. The  company holds interests in office,
residential,  retail  and  parking  properties  and developments, principally in
Moscow  and  St.  Petersburg.  EPH  is  managed by Valartis International Ltd. a
wholly-owned  subsidiary of Valartis Group AG. Additional information on Eastern
Property Holdings is available by contacting Terry Olin, Tel: [phone].

*********

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Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA/Case Postale 3458 Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;

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