Change of Auditor

Warner Estate Holdings PLC

("Warner Estate" or "the Company")

Change of Auditor

Warner Estate announces that following a competitive tender process it has appointed PKF (UK) LLP as auditor of the Company and its subsidiaries commencing with the financial year ending 31 March 2013.

PricewaterhouseCoopers LLP, in various forms, have been the Company's auditor since incorporation and were involved in the tender process, in addition to other firms. PricewaterhouseCoopers LLP has consequently resigned as auditor of the Company and the Board of Warner Estate would like to thank PricewaterhouseCoopers LLP for the high quality of audit services provided to the Group.

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Date: 16 November 2012

For further information contact:

Warner Estate Holdings PLCMark Keogh, Group Managing DirectorTel: 020-7907-5100Web: www.warnerestate.co.uk