Acquisition of Properties

The MedicX Fund Limited
27 December 2006


For immediate release                                           27 December 2006



                              MedicX Fund Limited

                  ('MedicX Fund', 'the Fund' or 'the Company')



                      Acquisition of Twelve New Properties


MedicX Fund, the specialist investor in modern purpose built primary healthcare
properties which listed on the Official List of the London Stock Exchange on 2
November 2006, today announces that it has completed the acquisition of a
further 11 new properties, nine of which have already been built with two under
construction and due to complete in May and October 2007.  The properties are
currently owned by Medcentres 2006 Limited ('Medcentres 2006') which will be
acquired by MedicX Fund for £10.3 million from NJ Arnold.  Medcentres 2006 has
debt net of cash of £26.3 million and a working capital balance of £0.6 million.
  In addition, MedicX Properties I Ltd (a subsidiary of the Fund) has contracted
to acquire a property in Wisbech for £6 million directly from NJ Arnold.  The
aggregate purchase price is £16.3 million with £15.8 million in cash and
£510,000 in MedicX Fund shares issued at a price of £1.02 per share paid to NJ
Arnold.  The two projects under construction require a further £4.2m to
complete; the total cost of the 12 acquired properties when all are complete is
therefore £46.2m before purchaser costs.  Medcentres 2006 Limited will be
renamed MedicX Properties IV Ltd.  The Fund will refinance the existing debt
using its £100 million loan from Norwich Union at its 5% fixed total borrowing
cost.


The 12 properties are located in Rugby, Norwich, Braintree, Gravesend,
Lymington, Ringwood, Wareham, March, Bridport, Evesham, Verwood and Wisbech.
The current rent of the 12 properties is £2,789,783 per annum in aggregate and
the properties have been valued by DTZ Debenham Tie Leung, valuers to the MedicX
Fund, at £49.6 million net of 5.75% purchaser costs.  The current rent and
valuation assumed the two under construction are completed.  The 12 new sites
bring the total number of primary healthcare properties owned by the MedicX Fund
to 34.


In addition, the MedicX Group has secured an exclusive option to forward fund
new properties developed by NJ Arnold and Medcentres until 1 January 2009 which
can be extended with the agreement of both parties.


This acquisition was not included in the pipeline reported in the Medicx Fund
IPO prospectus but is in line with the strategy of the business.


Keith Maddin, Chairman of MedicX Group, said: 'We are delighted to have finished
the year on such a positive note.  In our first two months the MedicX Fund has
assembled a portfolio of 34 modern primary healthcare properties spread across
England and Wales.  The £67.8 million invested (before purchaser costs and on
top of the £46 million initial portfolio) in new properties exceeds the target
assumed for the first twelve months presented in the prospectus and has been
valued by DTZ at £74.3 million.  The Fund's pipeline has been enhanced following
the recent transactions with Oakapple and Medcentres.  We look forward to 2007
and the further opportunities that may arise.'


                                      End


For further information please contact:

MedicX Group                                                [phone]
Keith Maddin, Chairman
Mike Adams, Managing Director

Buchanan Communications                                     [phone]
Charles Ryland / Lisa Baderoon / Mary-Jane Johnson



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