Update on Revolving Credit Facility

20 Sep 2012 12:13

20 September 2012

London & Associated Properties PLC ("the Company) Update on Revolving Credit Facility

London & Associated Properties Plc ("LAP") currently has a £47 million revolving credit facility with Royal Bank of Scotland ("RBS") of which £44.2 million is drawn, which will expire on 22nd September 2012.

LAP has been negotiating a renewal of this facility for approximately 12 months. While it now appears likely that a new facility will not have been agreed by the expiry date, we are very close to reaching agreement and have the support of RBS while negotiations continue.

We look forward to updating shareholders on a satisfactory conclusion to these negotiations in due course.

Ends.

For further information please contact:

John Heller, Chief Executive

London & Associated Properties PLC Tel: 020 7415 5000