Invitation to the shareholders of Advance Terrafund

Dear Shareholders,

The Management of Advance Terrafund REIT is pleased to invite the Shareholders of the Company to state their willingness to hold individual conference calls to discuss the results of the Company for Q1 2013, to provide information on the current trends in the land market and on the plans for the development of the Company. The dates for the conference calls will be within the period of April 23th-24th, 2013 and can be coordinated with Atanas Dimitrov, Investor Relations Director, at tel. +35924008332 or e-mail: adimitrov@karoll.bg.

Please, feel free to suggest dates and times for the conference calls.

Respectfully Yours:

Radoslav Manolov
Executive Director
Advance Terrafund REIT