European Real Estate Invstmt : Portfolio Update

8 July 2016

Valuation Announcement

The Board of European Real Estate Investment Trust Limited (the 'Group') announces the valuation of the Group's property portfolio as at 30 June 2016.

The value of the property portfolio as at 30 June 2016 was €31.85 million. This compares, on a like-for-like basis to a 31 December 2015 value of €31.83 million, an increase of 0.1%.

The valuations are provided by the independent valuer (CBRE) in accordance with the Royal Institution of Chartered Surveyors (RICS) Appraisal and Valuation Standards and show the 'Market Value' assuming an asset sale of each property and allow for acquisition costs incurred by purchasers.

The independent valuers, CBRE, have included the following comment in their valuation as at 30 June 2016:

'Following the Referendum held on 23 June 2016 concerning the UK's membership of the EU, a decision was taken to exit. It is not clear to what extent other EU markets will be affected by this decision and we will be monitoring the markets closely. We recommend that the valuation is kept under regular review.'

This announcement is not a preliminary statement of the Group's half year interim results. The financial information contained herein is not audited and is subject to change. The Group expects to publish its interim results for the half year ended 30 June 2016 in August 2016.

For further information, please contact:

Praxis Fund Services Limited

Shona Darling Phone:[phone]

Cenkos Securities plc

Will Rogers Phone:[phone]

Sapna Shah Phone:[phone]

Schroder Property Investment Management Ltd

Duncan Owen / Tony Smedley Phone:[phone]