Black Sea Property AS announced that an agreement with the Thomas Cook has been entered into for Aheloy Beach Resort. The agreement has been entered into between Thomas Cook and the management company for the Resort (the management company is wholly owned by EPO Aheloy, a subsidiary of the Company and the holding company for the Resort). Through the agreement, the Resort will be open for bookings by the customers of Thomas Cook. The agreement applies for the summer season of 2018, and is subject to opening of the Resort. The construction works at the Resort have made significant progress and is in progressing in line with the outlined schedule. All 358 apartment units in buildings "N" and "M" have been completed, with furniture and appliance installations nearly finished. Expectations are for these units to be handed over to the management company in early March 2018. Due to the mild winter weather, works on the landscaping and facade of building "L" are progressing fast and have completely transformed the appearance of the Resort. The final touches on the landscaping work is an ongoing process with finishing date projected at the end of May 2018. BSP is greatly satisfied with the construction works performed and is currently preparing and evaluating to commence works on the commercial spaces. Due to recent repair works, building "P" now has a well conserved exterior with recently repaired roof, drainage lines, terraces and insulation, and is ready for starting interior construction works. This building is owned by EPO Aheloy together with certain other investors, and the Company intends to reach an agreement with the external investors in first quarter of 2018 with respect to funding of upcoming construction works.