Re: Munich Acquisition

Grainger Trust PLC 01 November 2006 1 November 2006 Grainger Trust plc ('Grainger'/'Company') GRAINGER TRUST ACQUIRES 308-UNIT GERMAN RESIDENTIAL PORTFOLIO FOR €32 MILLION AND OPENS GERMAN HEAD OFFICE Grainger Trust, the UK's largest quoted residential property owner, has announced today that is has acquired a 308-unit residential portfolio in Munich, Germany for €32 million. The 19,200 sq.m portfolio also provides 12 commercial units and 147 car parking spaces. The property attracts a gross rent of €1.95 million per year. This latest announcement boosts Grainger's holdings in Germany to over 3,000 units, which represents an investment of over €200 million. At the same time, Grainger is also pleased to announce the opening of its first German office, in Mannheim, marking the latest step in the Company's growth in Germany. Commenting on the deal, Cameron Spry, Head of European operations for Grainger said: 'This signals an important step forward for Grainger. We see a significant portion of our future growth in continental Europe and this latest acquisition underpins our strategy in a key German market.' Commenting on the opening, Rupert Dickinson, Chief Executive of Grainger, said: 'We're delighted to have opened our latest office in Mannheim. Physically positioning ourselves within the German market will open up many more opportunities for us to expand our operations and build our brand in the country. We look forward to future growth and furthering our relationships with local partners to deliver shareholder value.' Grainger Trust will announce its preliminary results for the year to 30 September 2006 on 28 November 2006. -ENDS- For further information: Grainger Trust: Rupert Dickinson/Cameron Spry Tel: +44 (0)20 7795 4700 Financial Dynamics: Stephanie Highett/Dido Laurimore Tel: +44 (0)20 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange

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Grainger (GRI)
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