Changes to Board Composition

To: RNS Date: 24 March 2015 From: F&C Commercial Property Trust Limited Changes to Board Composition The Board has previously stated that it did not anticipate making anysignificant changes to its composition in advance of the refinancing of thebonds and continuation vote. Following the successful outcome of both of thesematters towards the end of 2014, the Board conducted a review of itscomposition and has put in place a plan of refreshment. At the year-end, the Board comprised six Directors, three of whom had servedsince the Company's launch in 2005. All three have indicated that they willretire in succession which allows refreshment of the Board without loss at onetime of the embedded industry, Company and shareholder knowledge and experiencethey each represent. Nick Tostevin, who has been a Director since 2005, will retire from the Boardat the Annual General Meeting on 28 May 2015.The Board would like to thank Nickfor his outstanding contribution and commitment to the Company over this time,both as a Director and as the Chairman of the Audit Committee. Following a formal recruitment process, the Board is pleased to announce theappointment of two new independent non-executive Directors, Peter Cornell andDavid Preston, both of whom will join the Board on 1 May 2015 and stand forelection at the Annual General Meeting on 28 May 2015. Peter Cornell was, until 2006, Global Managing Partner of Clifford Chance. Hethen joined Terra Firma Capital Partners where he was Managing Director until2011. He was a non-executive director of Circle Holdings plc from 2011 to 2013.Peter is a founding partner of Metric Capital partners in Guernsey and has awealth of legal and commercial experience which will be of significant benefitto the Board. David Preston is Managing Director of First Names (Guernsey) Limited, aGuernsey based fiduciary and fund services business. He is a director of anumber of regulated, un-listed open and closed-end real estate funds investedin the UK, Europe, Asia and the USA. He is a Chartered Accountant and hassignificant property, financial, corporate administration and regulatoryexperience. There is no information required to be disclosed pursuant to LR 9.6.13R inrelation to either of the above appointments. Following these appointments and Nick Tostevin's retirement, the Board willcomprise seven Directors for a transitional period. One further long servingDirector will retire at the Annual General Meeting in 2016, thereby taking thenumber of Directors back to six. It is the Board's intention to continue toreview and refresh its composition mindful that, with a Guernsey residentmajority established, the next replacement can be made from a broader anddiverse universe of non-executive directors irrespective of whether or notconversion to onshore UK REIT status becomes in the best interests ofshareholders. Trudi Clark will become Chairman of the Audit Committee following NickTostevin's retirement and the Board has also decided that, in accordance withbest practice for FTSE 250 companies, it should appoint a Senior IndependentDirector. Martin Moore will be appointed to this position immediately followinghis re-election at the Annual General Meeting. All enquiries to: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt.PeterPortGuernsey GY1 3QL Tel: 01481 745324Fax: 01481 745051