Statement re Gresham House Signals REIT Move

Gresham House plc

36 Elder Street, London E1 6BT

Gresham House Signals REIT Move

Gresham House plc (GHE.L), the property and early-stage investment trust, today signals its intention to demerge its
commercial property portfolio into a qualifying Real Estate Investment Trust Company.

Alfred Stirling, Chairman of Gresham House plc, commented:
 "We have been waiting for two years for the confirmation of the detailed structure of REITs and welcome the news from
the Chancellor in Wednesday's Budget. We believe REITs provide a highly advantageous mechanism through which investors
can gain exposure to the UK property market. We intend to commence the process of transferring our commercial property
portfolio into a REIT qualifying structure to coincide with the January 07 launch date for REITs."

Current plans are for the new REIT company to be hived down to existing shareholders in Gresham House plc.   This new
Company would have its own quotation.

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Further information:

Alfred Stirling (Chairman - Gresham House) 020 7588 7352
Toby Hall/Jade Mamarbachi (gth media relations) 020 7153 8039/8035