Director Declaration

IRP PROPERTY INVESTMENTS LIMITED

12 April 2010

In accordance with the requirements of the Listing Rule 9.6.14, IRP Property Investments Limited advises the following changes to directorships in other publicly quoted companies, held by a member of the Board:

Mr Quentin Spicer has been appointed to the Board of Squarestone Brasil Limited, an AIM listed company admitted to listing on 12 April 2010.

All Enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745529