Berkeley Group Regulatory News (BKG)

 The Berkeley Group Holdings plc

Berkeley 2011 Long Term Incentive Plan

Under the terms of The Berkeley Group Holdings plc ("Berkeley") 2011 Long Term Incentive Plan ("2011 LTIP"), options over a total of 19,616,503 ordinary shares have been granted. These options will vest when the performance conditions summarised in Appendix 1 to the Notice of Berkeley's 2011 AGM are satisfied.

Following an internal reorganisation of Berkeley Homes, one of the Group's core operating divisions, Karl Whiteman has agreed to surrender 1,250,000 of the 2,250,000 options originally awarded to him under the 2011 LTIP for nil consideration.

Subsequent to the surrender of these options and subject to the final recommendations of the Remuneration Committee, the Board expects to make future awards of some or all of the 1,250,000 options to certain key Berkeley managers on the original terms approved by shareholders. The rules of the 2011 LTIP do not permit a further award to existing participants.

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Tim Robertson

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