Result of EGM

Highcroft Investments PLC
13 December 2007


                           HIGHCROFT INVESTMENTS PLC
                   ('Highcroft Investments' or 'the Company')

                                 Result of EGM


Highcroft Investments PLC announces that further to the announcement of the 13th
November 2007 and Circular to shareholders providing details, on the background
to and reasons for the proposed conversion to a REIT, at the Extraordinary
General Meeting that was held today the special resolution was not passed.


A poll was conducted in which 2,470,536 voted for the resolution 897,947 voted
against and no votes were withheld.  Although the poll achieved the support of a
majority of shareholders, a special resolution must command the support of at
least 75% of those voting.  The result of the poll showed that 26.66% of those
voting had voted against.


Having previously encouraged the proposed conversion to a REIT Mr DG and MB Conn
and Associates holding in aggregate approximately 18 per cent of the voting
rights have voted against the resolution and as a result despite the Company
receiving confirmation from HMRC that the Group will be able to convert to REIT
status, the Articles of the Company can no longer be amended and the conversion
to a REIT is no longer possible at this time.


By not converting to a REIT, the Group will continue to pay UK direct tax on the
profits and gains from its qualifying property rental businesses in the UK. In
the previous financial year to 31 December 2006 the Directors estimate the Group
corporation tax charge on income would have reduced by approximately £396,000
and the Group corporation tax charge on gains would have reduced by
approximately £148,000.


The opportunity to reduce future taxation to the benefit of all shareholders
will not now be available in the immediate future. However the Board remains
convinced of the merits of a REIT conversion and intends to revisit this
proposal at the earliest possible opportunity.


13 December 2007


Enquiries:


John Hewitt, Chairman                          01865 840 023

David Bowman, Finance Director

Highcroft Investments plc



Philip Davies / Freddy Crossley                020 7149 6000

Charles Stanley Securities



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