Purchase and Disposal of Property

To: RNS

From: F&C UK Real Estate Investments Limited

Date: 21 May 2014

F&C UK Real Estate Investments Limited ('FCRE')

Purchase of B&Q at Northfields Retail Park, Rotherham

On 16 May 2014, IPT Property Holdings Limited, a subsidiary of FCRE, purchased a retail warehouse unit in Rotherham for £10.5 million, at an initial yield of 7.3 per cent. The unit is let to B&Q until 21 August 2029, with a tenant's break in 2024, at £810,346 per annum.

Disposal of Units A-C, Foundry Lane, Horsham

On 8 May 2014, IPT Property Holdings Limited, a subsidiary of FCRE, disposed of industrial units in Horsham for £5.05 million, at an initial yield of 10.1 per cent. The units are currently let on leases expiring in 2018 and 2019.

The property was valued at £4.75 million as at 31 March 2014.

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 745001

Fax: 01481 745051

Ian McBryde

Scott Macrae

F&C Investment Business Ltd

Tel: 0207 628 8000

Fax: 0131 225 2375