Transaction in Own Shares

23 September 2011

ALPHA TIGER PROPERTY TRUST LIMITED ("ALPHA TIGER" OR THE "COMPANY")

TRANSACTION IN OWN SHARES

Alpha Tiger announces that on 22 September 2011 it purchased 100,000 ordinary shares of no par value ("Ordinary Shares") at a price (before expenses) of 76 pence per share. The purchased Ordinary Shares will be cancelled together with 11,111 shares currently held in treasury which are being cancelled following the purchase to ensure that the Company holds no more than 10 per cent. of its share capital in treasury pursuant to Guernsey law.

The ordinary share capital of the Company following the purchase and cancellation of those Ordinary Shares which are to be repurchased will be 56,182,427 (including shares held in treasury). The Company will hold a total of 5,618,242 shares in treasury.

The total voting rights in Alpha Tiger following the purchase and cancellation of the Ordinary Shares will be 50,564,185.

The total voting rights figure (50,564,185) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Alpha Tiger under the FSA's Disclosure and Transparency Rules and/or the AIM Rules for Companies.

Contact:

Alpha Tiger Property Trust Limited

David Jeffreys, Chairman, Alpha Tiger +44 (0)1481 735 540

Brad Bauman, Joint Fund Manager, Alpha Tiger +44 (0)20 7268 0300

Panmure Gordon, Nominated Adviser & Broker to the Company

Richard Gray/Andrew Potts/Abhishek Majumdar +44 (0)20 7459 3600

Further information is available at www.alphatigerpropertytrust.com