Valuation as at 30th June 06

4 Aug 2006 12:37

Off-Plan Fund Limited (The)04 August 2006 For immediate release 4 August 2006 The Off-plan Fund Limited Valuation as at 30 June 2006 The Board of The Off-plan Fund Limited (the "Fund"), which specialises inproviding forward finance to UK housebuilders, is pleased to announce the Fund'squarterly valuation for the period ending 30 June 2006. •Using Red Book* valuations for the underlying properties, the estimated net asset value for the Fund is £8.8m (95.1p per share) as at 30 June 2006. (90.75p as at 31 March) •The net asset value of the Fund prepared under historical cost convention as at that date is £7.9m (84.6p per share). (85.1p as at 31 March) * The Red Book is the Asset Valuation Practice and Guidance Notes of the RoyalInstitution of Chartered Surveyors and is the industry standard method forvaluing investment properties. The valuations were prepared by Colliers CRE asat 31 March 2006, the date of the last financial statements and by Dears Brackas at 27th April 2006 the date the Fund purchased the development at OldhamPlace. List of ContactsDevelopment Capital ManagementRoger HornettRupert Phillips020 7399 4270 Numis SecuritiesAdam ShaptonCharles Farquhar020 7776 1500 Buchanan CommunicationsCharles RylandIsabel Podda020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange