TIDMERET

RNS Number : 9669K

European Real Estate Inv Tst Ltd

01 July 2014

European Real Estate Investment Trust Limited

1 July 2014

Valuation Announcement and Directorate Change

The Board of European Real Estate Investment Trust Limited (the "Group") announces the valuation of the Group's property portfolio as at 30 June 2014.

The value of the property portfolio as at 30 June 2014 was EUR57.8 million. This compares, on a like-for-like basis (following the sale of the car park property at Kaiserslautern in June 2014), to a 31 December 2013 value of EUR63.2 million, a decrease of 8.6%. For the avoidance of doubt the 30 June 2014 valuation takes into account the lease amendments agreed with the tenant of the Spanish properties, Panrico, which was announced on 11 June 2014.

The valuations are provided by the independent valuer (CBRE) in accordance with the Royal Institution of Chartered Surveyors (RICS) Appraisal and Valuation Standards and show the "Market Value" assuming an asset sale of each property and allow for acquisition costs incurred by purchasers.

This announcement is not a preliminary statement of the Group's half year interim results. The financial information contained herein is not audited and is subject to change. The Group expects to publish its interim results for the half year ended 30 June 2014 in August 2014.

Directorate Change

Given the significant progress made during 2013 and the ongoing strategic review of the Company, including the Board's objective to reduce costs, Crispian Collins, the Chairman of the Board, and Roger Phillips have announced their decisions to resign with immediate effect. Stephen Coe will succeed Crispian Collins as Chairman of the Board. Wessel Hamman will succeed Stephen Coe as Chairman of the Audit Committee.

The Board is very grateful to Crispian for his strong leadership, energy and commitment since joining the Board in April 2007 and would also like to thank Roger for his valuable contribution since joining in November 2011.

For further information, please contact:

Praxis Fund Services Limited

   Shona Darling                                       Phone: +44(0) 1481 755528

Cenkos Securities plc

   Will Rogers                                        Phone: +44 (0) 20 7397 1920 
   Sapna Shah                                       Phone: +44 (0) 20 7397 1922

Schroder Property Investment Management Ltd

   Duncan Owen / Tony Smedley             Phone: +44(0) 20 7658 6000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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