Change of Nominated Adviser & Joint Broker

For immediate release 1 March 2010

LXB Retail Properties Plc (the "Company")

Change of Nominated Adviser & Joint Broker

LXB Retail Properties Plc is pleased to announce that, as a result of the acquisition by J.P. Morgan of the shares in J.P. Morgan Cazenove Limited it did not already own, J.P. Morgan Securities Ltd. (which conducts its UK investment banking business as J.P. Morgan Cazenove) has been appointed as Nominated Adviser and Joint Broker to the Company with immediate effect, replacing J.P. Morgan Cazenove Limited.

For further information please contact:

LXB Manager LLP Tel: 020 7432 7900

Tim Walton, CEO

Brendan O'Grady, FD

J.P. Morgan Cazenove Tel: 020 7588 2828

Robert Fowlds

Bronson Albery

Buchanan Communications Tel: 020 7466 5000

Charles Ryland

Nicola Cronk

Miranda Higham

END