Medicx Fund Regulatory News (MXF)

For Immediate Release 8 February 2010

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Interim Management Statement

MedicX Fund Limited (LSE: MXF), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom, today announces its Interim Management Statement.

Financial position and property valuation

On 8 December 2009, the Company announced that it was considering raising new equity capital in the New Year. The Company is pleased to announce that having reviewed current market conditions within the primary care infrastructure sector, it has identified opportunities to acquire further assets that meet its investment criteria. With additional capital available following an equity raise, the Company will be in a position to pursue these acquisition opportunities.

In conjunction with a possible equity raising, the Fund's valuers King Sturge LLP undertook a valuation of the portfolio as at 31 December 2009 which has shown a continued valuation uplift of a further £6.3 million across the whole portfolio from 30 September 2009, equating to a total portfolio value of £172.8 million. The valuation reflects a net initial yield of 5.85% compared with 6.06% in September 2009 and 6.09% in March 2009.

Incorporating the December revaluation, the unaudited adjusted net asset value is estimated now to be £71.0 million equivalent to 67.6p per share up from 62.0p in September 2009. Long term interest rates have also increased since the year end and, including the benefit of the £100 million fixed rate debt, the unaudited adjusted net asset value plus the mark to market benefit of fixed rate debt is estimated now to be £87.0 million (equivalent to 82.9p per share, up from 72.5p in September 2009).

The unaudited discounted cashflow ("DCF") valuation at 31 December 2009 was £97.0 million or 92.4p per share, compared with £93.5 million or 89.5p per share at 30 September 2009, the increase being due to the revaluation gain. Full details of DCF assumptions can be found in the preliminary announcement.

There have been no other significant changes to the financial position of the Company since the full year results were announced on 8 December 2009.

Investment activity

The Fund has performed in line with expectations since 30 September 2009 with no acquisitions or disposals since the 8 December 2009 announcement.

The portfolio of 50 properties is performing in line with long-term objectives. The Company has most recently completed the development of a property at Ossett in November 2009 and a property at Abergele in January 2010. One property remains under construction at Ruabon, due to complete later this year and two properties at Middlewich and Scholar Green are due to begin construction later this year.

Debt facility

On 29 December 2009, MedicX Fund entered into an agreement with Deutsche Postbank for a £25.5 million facility over a 5 year term. The loan interest rate will be fixed as each instalment of the loan is drawn down. Based upon the current 5 year swap-rate, and on the assumption the entire loan has been drawn, the loan would be fixed at an all-in rate, including margin, of 5.0%. This is at the same rate as the Fund's existing £100 million facility with Aviva for the 30 years to December 2036. To date no funds have been drawn down from this facility.

Dividends

On 31 December 2009 a quarterly dividend of 1.3325p per ordinary share was paid to shareholders.

David Staples

Chairman

-Ends-

For further information please contact:

MedicX Fund +44 (0) 1481 723 450

David Staples, Chairman

MedicX Group +44 (0) 0808 2025461

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Buchanan Communications +44 (0) 20 7466 5000

Charles Ryland/Lisa Baderoon/Miranda Higham

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 50 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 33 people operating across the UK.

The Company's website address is www.medicxfund.com