AGM Statement

Highcroft Investments PLC
23 May 2007


The following replaces the AGM Statement released today at 12.05, rns no 1003X.
The first announcement shouldn't have been released as it did not relate to the
AGM.



                           HIGHCROFT INVESTMENTS PLC

                             ANNUAL GENERAL MEETING


Real Estate Investment Trust conversion

At the Company's Annual General Meeting held today John Hewitt, Chairman,
announced that the Board had received notification from Kingerlee Holding
Limited ('KHL') confirming that it intends to support the proposed conversion of
the Company to a Real Estate Investment Trust ('REIT').

KHL owns 25.32 per cent of the Company's issued ordinary share capital and is
therefore a substantial shareholder for the purposes of the REITs legislation
(defined as a shareholder of 10 per cent or more), which would ordinarily be an
obstacle to REITs conversion.  The KHL board has notified the Company that it
has received advice, on which it intends to act, which should enable Highcroft
to convert to a REIT notwithstanding the fact that KHL will continue to own more
than 10 per cent of the Company's issued ordinary share capital.

The Board welcomes this notification as an important practical step, one of
several to be taken over the coming months, towards convening an Extraordinary
General Meeting, likely to be held in December, at which the Board hopes to put
a resolution to Shareholders that will enable conversion to a REIT on 1 January
2008.



23 May 2007



Enquiries :

Charles Stanley Securities                      020 7149 6000

Philip Davies


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