F&C UK Real Estate Investments Limited (the "Company")             
     (a closed-ended investment company incorporated in Guernsey with registration 
                                    number 41870)                                  

                            Disclosure of home member state                        
                                    21 January 2016                                

    In accordance with the requirements of DTR 6.4.2, the Company hereby confirms
    that the UK is its Home Member State.



    For further information please contact:

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


    Tel: 01481 745001
    Fax: 01481 745051