Duke Capital Regulatory News (DUKE)

11th January 2017

Duke Royalty Limited

("Duke Royalty" or the "Company")

Appointment of Chief Investment Officer

11 January 2017 - Duke Royalty Limited ("Duke Royalty" or the "Company"), a public diversified royalty company (AIM: DUKE), is pleased to announce that James (Jim) Webster, a current member of the Company's Investment Committee, has agreed to join Duke Royalty as Chief Investment Officer. In his position at Duke Royalty, Mr. Webster will play a key role in overseeing the due diligence and negotiations on prospective investment opportunities for Duke Royalty; directing the execution of royalty transactions approved by the Duke Royalty board, and monitoring royalty investments made by the Company.

Mr. Webster has twice been a senior executive of newly-formed royalty companies over the past 25 years. Mr. Webster's past success and experience of launching royalty companies with capital raised from institutional investors, will bring significant royalty based investing experience to the Company's senior management team.

Neil Johnson, CEO of the Company commented:

"We are delighted that Jim Webster has decided to join the Company as Chief Investment Officer. He is one of the founding fathers of the public royalty sector. His two previous royalty companies are leading royalty players today with an aggregate of $5 billion under management, and the total pharmaceutical royalty sector is now over $20 billion. We feel having Jim join Duke's team is invaluable as we look to capitalise on the significant opportunity we believe exists for the Company."

Between 2003 and 2009, as Managing Partner and Chair of the Investment Committee for Capital Royalty Partners LLC (now CRG L.P.), Mr. Webster was instrumental in raising $325 million for the firm's first fund. In his capacity as Chair of its Investment Committee, he led due diligence and negotiations on royalty interests for the firm. Today, CRG L.P.has approximately $2 billion under management.

Between 1993 and 2002, from virtually the inception of Drug Royalty Corporation Inc, Mr. Webster was a senior member of the first public pharmaceutical based royalty company, listed on the Toronto Stock Exchange. Mr. Webster served in various capacities including President, Chief Executive Officer, and Chairman of its Investment Committee and oversaw the firm's growth from its startup phase through to its eventual sale in 2002 for C$133m. At Drug Royalty Corporation Inc, he identified, assessed and negotiated investments in the pharmaceutical and biotechnology sectors. The company (now DRI Capital Inc) continues to be a leading royalty investor, with over $3 billion under management.

Jim Webster said "I am very excited to join the Duke team to assist the company in this phase of its development. Having the experience over my career in creating and growing royalty companies, I feel there is a large opportunity to bring this business model to UK investors and the European marketplace as a whole."

Mr. Webster holds a Masters of Business Administration from the Richard Ivey School of Business, and is also a CFA Charterholder and a Canadian Professional Accountant of Canada. He also completed the Columbia Executive Management Program in New York. As Mr. Webster's role in a non-board appointment, there is no disclosure required under Schedule Two paragragh (g) of the AIM Rules for Companies.

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About Duke Royalty

Headquartered in Guernsey, Duke Royalty Limited provides alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team and exclusive partnership provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders.

Duke Royalty is listed on the AIM market under the ticker DUKE. For more information, visit dukeroyalty.com.