Real Est.cred Regulatory News (RECI)

16 October 2013

REAL ESTATE CREDIT INVESTMENTS PCC LIMITED

Publication of Prospectus

This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the Prospectus. This announcement is not for release, publication, or distribution, directly or indirectly, in whole or in part, to US Persons or into or within the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, Japan and South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction

Real Estate Credit Investments PCC Limited

Real Estate Credit Investments PCC Limited (the "Company") has today published a prospectus approved by the UK Listing Authority in relation to issues of new shares by way of a Placing Programme (the "Prospectus"). The Company intends to use the Net Placing Proceeds to invest in Real Estate Debt Investments in accordance with the investment policy of the Company.

A copy of the Prospectus will shortly be available for inspection at www.hemscott.com./nsm.do.

Copies of the Prospectus will shortly be available in electronic form on the Company's website at www.recreditinvest.com and, are available for collection at the registered office of the Company at First Floor, Dorey Court, Admiral Park, St.Peter Port, Guernsey GY1 6HJ.

Terms used and not defined in this announcement have the meanings given in the Prospectus.

-ENDS-

For further information:

Important Notices

This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any share in the Company or securities in any other entity, in any jurisdiction, including the United States, Canada, Australia, Japan and South Africa, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities.

This announcement, and the information contained therein, is not for viewing, release, distribution or publication in or into the United States, Canada, Australia, Japan and South Africa or any other jurisdiction where applicable laws prohibit its release, distribution or publication, and will not be made available to any national, resident or citizen of the United States, Canada, Australia, Japan and South Africa. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes must inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the federal securities law of the United States and the laws of other jurisdictions.

The New Core Shares to be issued by the Company have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The New Core Shares may not be offered, sold, resold, pledged, delivered, distributed or otherwise transferred, directly or indirectly, into or within the United States, or to, or for the account or benefit of, US persons (as defined in Regulation S under the Securities Act). No public offering of the New Core Shares is being made in the United States. The Company has not been and will not be registered under the US Investment Company Act of 1940 (the "Investment Company Act") and, as such, holders of the New Core Shares will not be entitled to the benefits of the Investment Company Act. No offer, sale, resale, pledge, delivery, distribution or transfer of the New Core Shares may be made except under circumstances that will not result in the Company being required to register as an investment company under the Investment Company Act.

All investments are subject to risk, including the loss of the principal amount invested. Past performance is no guarantee of future returns. All investments to be held by the Company involve a substantial degree of risk, including the risk of total loss. You should always seek expert legal, financial, tax and other professional advice before making any investment decision.

Liberum Capital, which is regulated in the United Kingdom by the FCA, is acting as financial adviser to the Company and for no one else and will not regard any other person (whether or not a recipient of this document) as a client in relation to Initial Admission or the Placing Programme and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing any advice in connection with Initial Admission, the Placing Programme, the contents of this announcement or any other matter referred to herein.

Neither the Company, Cheyne Capital Management LLP or Liberum Capital Limited, their affiliates nor any other person (including without limitation, the directors, officers, employees, partners, agents, representatives, members and advisers of the Company, Cheyne Capital Management LLP, Liberum Capital Limited and their affiliates) undertakes any obligation to update or revise any statement made in this announcement (including, without limitation, any forward looking statements), whether as a result of new information, future events or otherwise.