Alpha Real Regulatory News (ARTL)

30 December 2010

ALPHA TIGER PROPERTY TRUST LIMITED ("ALPHA TIGER" OR THE "COMPANY")

INVESTMENT IN THE FREEHOLD INCOME TRUST ("FIT")

Further to its announcement of a £4m investment on 24 November 2010, Alpha Tiger announces that it is to invest a further £2.2m in The Freehold Income Trust.

The investment is expected to be short term and will provide a better return than currently accrued on the Company's cash balances.

Related Party Transaction

On 7 October 2010 the Company's investment manager, Alpha Real Capital LLP ("ARC"), announced that its subsidiary, Alpha Real Property Investment Advisers LLP, had agreed the acquisition of the property funds management business from the Asset Management division of Close Brothers Group plc ("Close Brothers"). The transaction remains subject to regulatory approval and relevant third party consents.

As part of this transaction ARC will take on the management of FIT. Following this, ARC will rebate to Alpha Tiger any fees earned by ARC from FIT, arising from Alpha Tiger's investment in FIT (including the relevant proportion of any performance fee payable to ARC attributable to Alpha Tiger's investment) (the "Fee Rebate").

The Fee Rebate is deemed to be a related party transaction under the AIM Rules for Companies. Phillip Rose is deemed to be a related party due to his relationship with ARC; as such he has not participated in the Board's consideration of the Fee Rebate. The Directors of Alpha Tiger (excluding Phillip Rose) consider, having consulted with Panmure Gordon (UK) Limited, Alpha Tiger's nominated adviser, that the terms of the Fee Rebate are fair and reasonable insofar as its shareholders are concerned.

For further information please contact:

Alpha Tiger Property Trust Limited

David Jeffreys, Chairman, Alpha Tiger +44 (0) 1481 735 540

Brad Bauman, Joint Fund Manager, Alpha Tiger +44 (0) 20 7268 0300

Panmure Gordon, Nominated Adviser to the Company

Richard Gray/Andrew Potts +44 (0) 20 7459 3600

Notes to editors:

About Alpha Tiger Property Trust

Further information is available at www.alphatigerpropertytrust.com