IERE.L Regulatory News (IERE)

The issuer wishes to advise that this is a replacement announcement for the announcement made today at 10.26 am (Ref 5019J) which should be disregarded.

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

Please complete all relevant boxes in block capital letters.

1. Name of the issuer

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

2.State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2R, (ii) a disclosure made in accordance LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006)

(ii) Director

3. Name of person discharging managerial responsibilities/director

TOM CHANDOS

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

N/A

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

IN RESPECT OF A HOLDING OF THE PERSONS REFERRED TO IN SECTION 3

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

ORDINARY SHARES

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

Smith & Williamson Nominees Limited

8 State the nature of the transaction

PURCHASE BY A DIRECTOR OF 150,000 ORDINARY SHARES

9. Number of shares, debentures or financial instruments relating to shares acquired

150,000 ORDINARY SHARES

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

TOM CHANDOS - 0.0577 PER CENT OF ORDINARY SHARES.

11. Number of shares, debentures or financial instruments relating to shares disposed

N/A

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) 

N/A

13. Price pershare or value of transaction

28.4 PENCE

14. Date and place of transaction

31 MARCH 2010, London

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

261,000 ORDINARY SHARES - 0.1004 PER CENT;

10,200 PREFERENCE SHARES - 0.0350 PER CENT.; AND

10,200 WARRANTS - 0.0350 PER CENT.

16. Date issuer informed of transaction

31 MARCH 2010

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant

N/A

18. Period during which or date on which exercisable

N/A

19. Total amount paid (if any) for grant of the option

N/A

20. Description of shares or debentures involved (class and number)

N/A

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

N/A

22. Total number of shares or debentures over which options held following notification

N/A

23. Any additional information

NOTIFICATION USING TOTAL RIGHTS FIGURE OF 259,948,949

24. Name of contact and telephone number for queries

Victoria Dalby - 020 7954 9527

Name and signature of duly authorised officer of issuer responsible for making notification

Citco REIF Services (Luxembourg) S.A. att. Marta Kozinska - +352 47 23 23 267

Date of notification

31 March 2010