Admission of Ordinary Shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR AUSTRALIA.

31 March 2010

Metric Property Investments plc ("Metric" or the "Company")

Admission of Ordinary Shares, voting rights and capital

Metric announces that, following the exercise of the Over-allotment Option in full, as announced on 26 March 2010, an additional 15,000,000 Ordinary Shares were admitted to the Official List and to trading on the main market of the London Stock Exchange at 8.00 a.m. today.

In accordance with DTR 5.6.1, the Company announces that, following the exercise of the Over-allotment Option, the Company's share capital consists of 190,000,000 Ordinary Shares, each with an equal number of voting rights, all of which are admitted to the Official List and to trading on the main market of the London Stock Exchange. Metric does not hold any shares in treasury.

For further information, please contact:

Metric Property Investments plc

Andrew Jones / Juliana Weiss Dalton

Tel: +44 (0)20 7355 6230

Oriel Securities Limited

Mark Young / James Nevin

Tel: +44 (0)20 7710 7600

J.P. Morgan Cazenove

Robert Fowlds / Bronson Albery / Paul Hewlett

Tel: +44 (0)20 7588 2828

Financial Dynamics

Stephanie Highett / Rachel Drysdale / Olivia Goodall

Tel: +44 (0)20 7831 3113

Email: [email protected]

Defined terms in this announcement are set out (unless the context requires otherwise) in the Prospectus relating to the Company, dated 8 March 2010..

J.P. Morgan Cazenove is a marketing name for the UK investment banking business of J.P. Morgan Securities Ltd.

Important Notices

This announcement, and the information contained therein, is not for viewing, release, distribution or publication, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, Japan, or any other jurisdiction where applicable laws prohibit its release, distribution or publication, and will not be made available to any national, resident or citizen of the United States, Canada, Australia, the Republic of South Africa, or Japan. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this document comes must inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the federal securities law of the United States and the laws of other jurisdictions.

The ordinary shares of the Company (the "Ordinary Shares") have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"). The Ordinary Shares cannot be offered, re-sold, pledged or otherwise transferred, directly or indirectly, in or into the United States or to, or for the account or benefit of, any US Person (as defined in Regulation S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Ordinary Shares are being offered or sold outside the United States in reliance on Regulation S, and within the United States pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offering of the Ordinary Shares in the United States.

The Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to benefits under the Investment Company Act.