NewRiver Regulatory News (NRR)

19 November 2010

NewRiver Retail Limited ("NewRiver" or the "Company")

Directorate Change

NewRiver is pleased to announce that, further to the passing of the resolutions at the extraordinary general meeting held earlier today, the following have been appointed as Executive Directors to the Board with immediate effect; Allan Lockhart, Mark Davies and Nick Sewell. David Lockhart has been appointed Chief Executive Officer. In addition, Serena Tremlett and Shelagh Mason have resigned as Non-Executive Directors. Andrew Walker is appointed as a Non-Executive Director and as the Forum Board representative. Each of Allan, Mark and Nick are directors of NewRiver Capital and are employed by the Group. They will not receive any additional remuneration for their appointments as executive directors of the Company.

Andrew Walker, aged 48, is Managing Director and head of Forum Partners' European team based in London. As a co-founder of Forum Partners, he has enjoyed a 24-year career in real estate securities analysis and investment. Previously, he was a Vice President with Security Capital Group where he had corporate acquisition responsibilities. He was a senior officer of SC European Realty, a $1.5 billion European real estate partnership and a director of London and Henley S.A. Prior to joining Security Capital Group in 1996, Andrew was a leading property analyst in the UK and Continental Europe, working for Paribas Capital Markets and prior to that, S.G. Warburg Securities (Japan) Ltd. He graduated from Liverpool John Moores University with a BSc in estate management in 1983 and has been a member of the Royal Institution of Chartered Surveyors since 1986.

David Lockhart, Chief Executive Officer of NewRiver Retail Limited said:

"The conversion to UK REIT status is an important structural change for the Company and in recognition of this we have reorganised our Board accordingly. I would first like to thank Serena Tremlett and Shelagh Mason who have made important contributions to NewRiver since September 2009. I am delighted to welcome to the Board Andrew Walker, as a representative of Forum Partners, who brings with him many years of valuable corporate real estate experience. Additionally I am very pleased to welcome the senior management team at NewRiver Capital Ltd of Allan Lockhart, Mark Davies and Nick Sewell who have all been integral to the success of the Company to date and I welcome them to the Board. These appointments serve to further strengthen NewRiver as we continue to grow and realise our ambition of becoming the UK's leading specialist retail real estate investor and asset manager."

The companies of which Andrew Walker has been a director in the past five years are as follows:

The companies of which Allan Lockhart has been a director in the past five years are as follows:

The companies of which Mark Davies has been a director in the past five years are as follows:

The companies of which Nick Sewell has been a director in the past five years are as follows:

The table below sets out the interests of the new directors in the Company.

No further information is required to be disclosed pursuant to schedule 2 paragraph (g) of the AIM Rules.

- Ends -

For further information:

www.newriverretail.com

NewRiver Retail Limited

David Lockhart Tel: 0203 328 5800

Kinmont (Financial Adviser)

John O'Malley

Mathew Thackery Tel: 0207 087 9100

Cenkos Securities

Ian Soanes

Max Hartley Tel: 0207 397 8900

Pelham Bell Pottinger

David Rydell

Rosanne Perry Tel: 0207 861 3232