First Property Regulatory News (FPO)

First Property Group plc

Exercise of Options

The Board of First Property Group plc (AIM: FPO) announces that on 20 April 2011 Mr Philip Moore, managing director of First Property Services Limited (which is no longer a subsidiary of the Company), has exercised options to subscribe for 70,000 Ordinary Shares in the Company of 1p each ("Ordinary Shares"). The option exercise price was 14.75 pence per share.

Application has been made for the 70,000 Ordinary Shares to be admitted to AIM, with trading expected to commence on or around 3 May 2011 ("Admission"). Upon Admission, these shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following these transactions, First Property has in issue (excluding the total of 3,804,614 ordinary shares now held in treasury) 111,046,501 Ordinary Shares. The figure of 111,046,501 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

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Notes to investors and editors:

First Property Group plc is a commercial property fund manager with operations in the United Kingdom and Central Europe. The performance of its funds under management ranked No.1 versus the IPD benchmarks for CEE and Poland for the 4 year period to 31 December 2009.

The business model of First Property Group is:

·; To raise third party funds to invest in income producing commercial property;

·; To co-invest in these funds;

·; To earn fees for the management of these funds. Fees earned are a function of the value of assets under management as well as the performance of the funds;

·; To earn a return on its own capital invested in these funds.

Further information about the Company and its products can be found at: www.fprop.com.