Convertible Bond: Exchange Price Adjustment

Primary Health Properties PLC

Amendment of exchange price on Convertible Bonds

Primary Health Properties PLC ("PHP" or the "Company") announces that the exchange price for new ordinary shares of 12.5p each in PHP ("Ordinary Shares") to be issued in exchange for the preference shares in by the Company's wholly owned subsidiary PHP Finance (Jersey No.2) Limited ("PHP Jersey") (ISIN: XS2016141637) issued on conversion of the 2.875% Guaranteed Convertible Bonds due 2025 (the "Convertible Bonds") of PHP Jersey has been adjusted to £1.4939 per Ordinary Share in accordance with condition 6(D) of the conditions of issue of the Convertible Bonds. There are currently £150,000,000 nominal of Convertible Bonds outstanding.

Enquiries:

Richard Howell,

Finance Director

Primary Health Properties PLC

Telephone: +44 (0) 20 7104 2004

LEI: 213800Y5CJHXOATK7X11