Dragon-Ukrainian Properties & Dev. Plc : ELQ change in % of holding, 5 January 2012

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii	DRAGON - UKRAINIAN PROPERTIES & DEVELOPMENT PLC
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify): See issuer announcement 29 December 2011
3. Full name of person(s) subject to the notification obligation: iii	The Goldman Sachs Group, Inc.
4. Full name of shareholder(s) (if different from 3.):iv	ELQ Investors Ltd.
5. Date of the transaction and date on which the threshold is crossed or reached: v	30 December 2011
6. Date on which issuer notified:	04 January 2012
7. Threshold(s) that is/are crossed or reached: vi, vii	15%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction	Resulting situation after the triggering transaction
Class/type of shares if possible using the ISIN CODE	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights	% of voting rights x
Class/type of shares if possible using the ISIN CODE	Number of Shares	Number of Voting Rights	Direct	xi Direct	xii Indirect	Direct	Indirect
IM00B1XH2B90	17,059,700	14.49%			16,959,700		15.51%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date xvii	Exercise/ Conversion period xviii	Number of voting rights instrument refers to	% of voting rights xix, xx
					Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
16,959,700	15.51%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

The interest in 16,959,700 shares arose from a beneficial interest held by ELQ Investors Ltd., a wholly- owned subsidiary of The Goldman Sachs Group Inc.

Proxy Voting:
10. Name of the proxy holder:	N/A
11. Number of voting rights proxy holder will cease to hold:	N/A
12. Date on which proxy holder will cease to hold voting rights:	N/A

13. Additional information:	General email contact: [e-mail]
14. Contact name:	Gill Teasdale
15. Contact telephone number:	020-7051-1151