Director/PDMR Shareholding

Fabian Romania Property Fund Ltd
21 May 2007

21 May 2007

Fabian Romania Property Fund ('Fabian Romania' or the 'Fund')

Director Dealings

The Fund was notified on 21 May 2007 that Peter Krens (Non-Executive Director of
Fabian Capital Limited, investment manager to the Fund), sold 145,000 of the
Fund's ordinary shares on 21 May 2007 at a price of €1.30 per share.

After this transaction, Peter Krens holds 50,000 of the Fund's ordinary shares,
representing approximately 0.10 per cent. of the issued ordinary share capital
of the Fund.

Enquiries
Fabian Capital Limited (investment manager to the Fund)
Mark Holdsworth                                                020 7499 9988


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