IMPT.L Regulatory News (IMPT)

13 November 2013

ALPHA UK MULTI PROPERTY TRUST PLC

(the "Company" or together with its subsidiaries the "Group")

INTERIM MANAGEMENT STATEMENT

Alpha UK Multi Property Trust PLC is today announcing an Interim Management Statement for the quarter ending 30 September 2013 and the period up until the date of this announcement. The information contained herein has not been audited.

Highlights:

· Adjusted net asset value ("NAV") per ordinary share - 219 pence as at 30 September 2013 (224 pence at 30 June 2013).

· Adjusted earnings per ordinary share - profit of 10.4 pence for the nine months to 30 September 2013 (9.3 pence for the six months to 30 June 2013).

· One property sale completed above valuation - one unit was sold at a total price of £0.27 million in October 2013, ahead of valuation.

· Occupancy improved - the occupancy level by estimated rental value stood at 83.7% as at 31 October 2013, compared with 83.3% as at 30 June 2013.

· Borrowings reduced - bank borrowings reduced by £0.3 million during the quarter to 30 September 2013; a further £0.5 million has been repaid in October 2013.

· Loan to value ("LTV") - the combined LTV across the Group on secured borrowings was 72.4% at 30 September 2013 (72.3% at 30 June 2013). The Group remains compliant with the covenants on its secured borrowings.

Revaluation and NAV

The Company's adjusted NAV per Ordinary Share was 219 pence as at 30 September 2013 which represents a decrease of 2.23% from that reported at 30 June 2013 of 224 pence. Primarily this fall resulted from the revaluation of the property portfolio.

The Group's property portfolio was valued at 30 September 2013 by DTZ Debenham Tie Leung Limited at £78.0 million; this represents a £0.6 million (0.73%) fall compared to the valuation at 30 June 2013. The property portfolio will next be valued by an independent valuer as at 31 December 2013.

Property Update

The Investment Adviser and Manager continues to progress the published strategy to deliver shareholder value, namely:

· To enhance net rental income.

· To amortise borrowing through surplus rental income and to reduce the LTV.

· To deploy capital when 'value add' opportunities are identified.

· To undertake limited strategic sales.

Occupancy across the portfolio has increased with 83.7% of the portfolio let as at 31 October 2013, based on the total estimated rental value, compared with 83.3% as at 30 June 2013. Progress continues to be made in letting void units; 18 new lettings and 8 lease renewals have been successfully completed in the quarter to 30 September 2013 at a final achievable annual rent, including stepped rent, of approximately £0.3 million per annum.

Tenant/letting activity can be summarised as follows:

Property sales

In keeping with the Board's strategy to undertake limited sales, one unit, which formed part of a larger multi-let investment, was sold in October 2013 to an owner-occupier at a price in excess of the Fund's September valuation. The sale at £0.27 million completed on 18 October 2013.

Financing

During the quarter to 30 September 2013, the Group reduced borrowings by a further £0.3 million. As a result of these repayments, the total secured borrowings of the Group have been reduced to £56.5 million at 30 September 2013. Following the repayment of £0.5 million in October 2013, the total secured borrowings stand at £56.0 million.

The combined LTV of the Group's secured borrowings was 72.4% at 30 September 2013 (72.3% at 30 June 2013).

As previously reported:

The borrowings of £47.5 million provided by Bank of Scotland in respect of the Company's wholly owned subsidiaries, CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited, are due to expire on 29 November 2013.

The borrowing of £8.5 million provided by Nationwide in respect of the Company's wholly owned subsidiary, CHIP (Two) Limited, is due to expire on 28 February 2014.

Discussions with Bank of Scotland, Nationwide and alternative banks and providers of capital are continuing in order to pursue extensions to, or refinancing of, these borrowings. The Board will issue a further announcement in due course.

Contact:

Jonathan ClagueChairman, Alpha UK Multi Property Trust Plc+44 (0) 1624 681250Tom PissarroFund Manager, Alpha Real Capital LLP +44 (0) 20 7268 0300

For more information on the Company please visit www.alphaukmultipropertytrust.com.

For more information on the Company's Investment Manager please visit www.alpharealcapital.com.

FORWARD LOOKING STATEMENTS

This interim management statement contains forward-looking statements which are inherently subject

to risks and uncertainties because they relate to events and depend upon circumstances that will occur in future. There are a number of factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based on the Board's current view and information known to them at the date of this statement. The Board does not make any undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nothing in this interim management statement should be construed as a profit forecast.