Dividend Declaration

Dawnay, Day Carpathian PLC
15 December 2005



Dawnay, Day Carpathian PLC (the 'Company')

Partial Cancellation of Share Premium and Declaration of Special Dividend

On 26 October the Company announced its intention to apply to the High Court of
Justice of the Isle of Man (the 'Court') in order to cancel 10% of the Company's
share premium account (the 'Cancellation') to enable the payment of a special
dividend to shareholders as disclosed in its admission document dated 20 July
2005.

Following the passing of the resolution at the EGM held on 18 November 2005, the
Company is pleased to confirm that the Court has now confirmed the Cancellation.

Accordingly, the Board is pleased to declare the payment of a special dividend
of 3p per share for the year ended 31 December 2005, payable on 6 January 2006
to ordinary shareholders on the register at close of business on 21 December
2005.



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