Update on Loan Facilities

5 December 2013

ALPHA UK MULTI PROPERTY TRUST PLC

(the "Company" or together with its subsidiaries the "Group")

UPDATE ON LOAN FACILITIES

CHIP (One) Limited, CHIP (Two) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited

The Company is pleased to announce today that CHIP (One) Limited, CHIP (Two) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited have entered into new financing agreements as follows:

· a £33.5 million senior loan facility with a five-year term expiring in December 2018 and an initial margin of 3% per annum over LIBOR, with Royal Bank of Scotland PLC (RBS); and

· a £20.0 million mezzanine loan facility with a five-year term expiring in December 2018 and a coupon of 11% per annum, with Europa Mezzanine Finance SaRL (Europa Capital)

The Company intends to enter into an interest rate hedging agreement for £25.1 million of the loan facilities.

In addition the Company is pleased to announce today that it has entered into a new sub-ordinated loan facility agreement in which Alpha Real Trust Limited will provide an unsecured loan to the Company for £11.5 million, with a five-year term expiring in December 2018. The coupon of the sub-ordinated loan is 15% per annum. The investment adviser of Alpha Real Trust Limited is Alpha Real Capital LLP, which is the investment adviser and manager of the Group. The Company has received guidance from its sponsor that the sub-ordinated loan transaction is on normal commercial terms.

The proceeds of the new senior, mezzanine and sub-ordinated loans have been applied to fully repay the facilities formerly provided by Bank of Scotland, Nationwide and Alpha Real Trust Limited, and also to provide for the Company's working capital requirements.

The Company believes this refinancing will establish the Group on a stable footing to enable the implementation of asset management initiatives. It is hoped this will lead to the commencement of the recovery of shareholder value in the Company.

Contact:

Jonathan Clague

Chairman, Alpha UK Multi Property Trust plc

Tom Pissarro

Fund Manager, Alpha Real Capital LLP

020 7268 0300