Circular regarding change of auditor

Pinewood Shepperton plc

Circular regarding change of auditor

14 May 2012

Pinewood Shepperton plc (the "Company")

Circular regarding change of auditor

Following the completion of the recommended cash offer by Peel Acquisitions (Pegasus) Limited for the Company, the Company asked Ernst & Young LLP to resign as auditor in order that Deloitte LLP can be appointed. Deloitte LLP are the auditors for the Peel Group. Ernst &Young LLP has consequently resigned as auditor of the Company.

Pursuant to section 520(2) of the Companies Act 2006, a circular has today been posted to the shareholders of the Company for information only attaching the statutory statement received from Ernst & Young LLP in connection with its resignation as the Company's auditor.

The circular and auditors' statement are available on the Company's website (www.pinewoodshepperton.com) and will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

Enquiries

Pinewood Shepperton plc +44 (0) 1753 656732

Andrew M Smith - Director of Strategy and Communications