REI Regulatory News (RLE)

10 Jan 2005 07:00

Real Estate Investors PLC10 January 2005 Real Estate Investors PLC ("REI" or the "Company") Completion of £7.6 million Financing Facility with Norwich Union REI, the fast expanding commercial property investment company which floated onAIM in June 2004, announces that it has today completed a 25 year, fixedinterest, term loan with Norwich Union. The £7,600,000 facility, which allowsfor substitution of security and the trading of properties,carries a coupon of 6.04% and will be utilised to assist in the Company's recentpurchase of 3147398 Limited (formerly known as Bacchus Estates Limited) and itsprogressing acquisition programme. Peter Lewin, chief executive of REI, said: "Since it completed its successfulflotation in June last year, REI has raised additional equity funding and hasmade a number of significant acquisitions. The 25 year fixed interest,institutional, funding facility with Norwich Union further establishes our solidfinancing base. The Board believes that REI starts 2005 with the resources and track record toachieve our objective of building a substantial property investment business." Further information: Peter Lewin - CEO 01923 776633Malcolm Lewin - FDReal Estate Investors PLC Christopher Joll 020 7491 7776mj2 ltd 10 January 2005 This information is provided by RNS The company news service from the London Stock Exchange