Phoenix Spree D Regulatory News (PSDL)

22 June 2016

Phoenix Spree Deutschland Limited

("the Company")

PDMR Dealing

The Company was notified on 21 June 2016 that Giles Avery, an employee of PMM Partners (UK) Limited, the Company's Property Advisor, sold in aggregate 61,504 ordinary shares in the Company in two trades that took place on 20th June 2016 and 21st June 2016 at an average price of 198.2p per share.

Following this transaction, the beneficial holding of Mr Avery is equal to 122,496 shares, representing 0.1324% of the issued share capital of the Company.

For further information please contact:

Phoenix Spree Deutschland

Stuart Young +44 (0) 20 7292 7153