NewRiver Regulatory News (NRR)

31 March 2016

NewRiver Retail Limited

("NewRiver" or the "Company")

Directors Share Dealings & Total Voting Rights

Exercise of Share Option and Performance Share Plan Awards

NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment, active asset management and development, was notified on 30 March 2016, that on 30 March 2016 the following directors exercised options in the Company as detailed below.

David Lockhart exercised 12,000 options over ordinary shares of no par value in the Company ("Ordinary Shares") under the NewRiver Retail Limited Company Share Option Plan 2009, at an exercise price of £2.50 per Ordinary Share. Following the exercise of these options, David Lockhart's total beneficial holding in the Company is 1,497,000 shares, representing 0.63% of the Company's issued share capital.

Mark Davies exercised 56,192 options over Ordinary Shares for nil consideration under the NewRiver Retail Limited Performance Share Plan 2009. Following exercise, 26,504 Ordinary Shares have been sold at a price of £3.29 per share to cover tax, with the balance transferred into his own name. Following these transactions, Mark Davies' total beneficial holding in the Company is 67,210 shares, representing 0.03% of the Company's issued share capital.

All option exercises were satisfied by using Ordinary Shares held in the Company's Employee Benefit Trust. All shares were sold on the London Stock Exchange on 30 March 2016.

Purchase of Shares by Alastair Miller

Alastair Miller, a non-executive director of the Company, notified the Company on 30 March 2016 that he has purchased 30,000 Ordinary Shares. The shares were purchased in London on 30 March 2016 at a price of £3.30 per share. The shares are held in his own name.

Following the purchase of these shares, Mr Miller is interested in 30,000 Ordinary Shares, representing 0.01% of the Company's issued share capital.

Issue of new shares to the NewRiver Retail Employee Benefit Trust

On 30 March 2016, 5,000,000 new Ordinary Shares were issued to the NewRiver Retail Employee Benefit Trust (the "EBT"). The shares will be used to satisfy the vesting of awards made under the Company's share option and performance share plans. The EBT waives its rights to voting and receiving dividends over the shares that it holds.

The Company has applied to the London Stock Exchange for 5,000,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am on 4 April 2016.

Total Voting Rights

Following the exercise of options and the issue of shares to and from the EBT, the Company holds 5,152,055 Ordinary Shares in the EBT. As the EBT is consolidated, these shares are treated as treasury shares. The Company's issued share capital has increased to 238,545,767 Ordinary Shares.

Accordingly, the total number of voting rights in the Company is 233,393,712. This figure 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 FCA's Disclosure and Transparency Rules.

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About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of over £1 billion principally comprising 32 UK wide shopping centres, further nationwide retail assets and a portfolio of 358 pubs with retail and mixed-use extension opportunities. The portfolio has 1,765 occupiers, a total of over 7.0 million sq. ft., total annual footfall of over 145 million and a retail occupancy rate of 97 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk