Notice of EGM

F&C UK REAL ESTATE INVESTMENTS LIMITED

To: RNS

From: F&C UK Real Estate Investments Limited

Date: 25 November 2014

CONVERSION TO UK REIT

As noted in the annual report and financial statements for the year ended 30
June 2014 the Board of F&C UK Real Estate Investments Limited (the "Company")
recently completed a review of the tax efficiency of the Company's present
structure and concluded that it would be in the best interests of Shareholders
taken as a whole ifthe Company becomes a UK based real estate investment trust
(a "REIT").

Accordingly, the Company has today published a circularto Shareholders (the
"Circular")in connection with the proposals for the Company to become tax
resident in the UK for the purposes of entering into the UK REIT regime (the
"Proposals") and proposing resolutions to approve the necessary amendments to
the Company's articles of incorporation (the "Articles") in connection with the
Proposals and a related party transaction in relation to Friends Life Limited's
substantial shareholding in the Company under the REIT regime.

The Proposals are conditional on Shareholders approving the resolutions to be
proposed at the General Meeting and are expected to become effective in January
2015. The General Meeting will be held at 9.00 a.m. on 19 December 2014 at
Trafalgar Court, Les Banques, St. Peter Port, Guernsey GY1 3QL.

A copy of the Circular has been submitted to the National Storage Mechanism and
will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

All enquiries to:

The Company Secretary                                                               
Northern Trust International Fund Administration Services (Guernsey)Limited       
Trafalgar Court                                                                               
Les Banques                                                                                  
St. Peter Port                                                                                 
Guernsey GY1 3QL         

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