Confirmation of Exchange Rate and Calculation Prices

7 APRIL 2014 2013 FINAL DIVIDEND: TIMETABLE, EXCHANGE RATE AND SCRIP CALCULATION PRICES On 28 February 2014, the Directors proposed a final dividend for 2013 of 10.0pence per share (the "Dividend"). As confirmed on 20 March 2014, the Directorsare offering shareholders a scrip alternative to the 2013 final cash dividend.The dividend will be paid as follows: * If taken in cash, the Dividend will comprise a Property Income Distribution (PID) element of 7.5p and a non-PID element of 2.5p. The PID element will be subject to deduction of a 20 per cent UK withholding tax unless exemptions apply. The non-PID element will be treated as an ordinary UK company dividend. * Shareholders who make an election to receive shares will receive shares based on the full 10.0 pence dividend being paid as a non-PID. As a non-PID, this will be treated as an ordinary UK company dividend Shareholders should note that new ordinary shares in the Company to be issuedpursuant to the Rights Issue announced on 20 March 2014 will not be entitled tothe Dividend. The Company is now pleased to announce the share price applicable to the scripalternative to the cash dividend and, for its South African shareholders, theexchange rate applicable to the dividend. The salient dates for payment of thedividend published in the announcement dated 20 March 2014 remain unchanged. Further details of the scrip dividend alternative are contained in the ScripDividend Scheme Booklet, and the related Election forms, which are availablefrom www.intugroup.co.uk and from the Company's Registrars. (i) Shareholders receiving the dividend in cash: The Company confirms that the South African Rand exchange rate for the 2013final dividend will be 17.435 ZAR to 1 GBP. Shareholders who do not make anelection to receive shares will receive a cash dividend per ordinary sharewhich will be paid wholly as a PID as follows: Gross amount of dividend 174.35 ZA cents (GBP pence 10.0p) Payable as: PID element 130.7625 ZA cents (GBP pence 7.5p) *Less 20% withholding tax 26.1525 ZA cents (GBP pence 1.5p) Net PID dividend payable 104.6100 ZA cents (GBP pence 6.0p) Non-PID element 43.5875 ZA cents (GBP pence 2.5p) Total net dividend payable 148.1975 ZA cents (GBP pence 8.5p) *Certain categories of UK shareholder may apply for exemption, in which casethe PID will be paid gross. (ii) Shareholders who elect to take shares: (a) Dividend equivalent values: Shareholders who make an election to receive shares instead of the cashdividend will receive shares with a value equivalent to a dividend per ordinaryshare as follows: UK Shareholders SA Shareholders Non-PID dividend GBP pence 10.0p 174.35 ZA cents (b) Share entitlement: Shareholders on the UK share register: The price setting period for the Scrip price calculation was 31 March to 4April 2014 inclusive. Based on the average middle market quotations for eachday in the price setting period on the LSE less the gross amount of dividend asset out above, the Scrip Calculation Price applicable to UK shareholders is GBPpence 276.96. The scrip share allocation will be as follows: Non-PID dividend No. of shares required to be held for one new 27.696share The number of shares to be allocated will be calculated by dividing the totalvalue of the dividend otherwise receivable by the shareholder by the ScripCalculation Price and rounding down to the nearest whole number. Any fractionalentitlement, i.e. the total value of the dividend receivable less the value ofthe shares allocated, will be paid out as cash but still treated as a non-PIDdividend. (c) Share entitlement: Shareholders on the South Africa share register: The exchange rate for the calculation of share entitlement is as stated above,17.435 ZAR to 1 GBP. The price setting period for the Scrip price calculationwas 31 March to 4 April 2014 inclusive. Based on the average middle marketquotations for each day in the price setting period on the JSE less the grossamount of dividend as set out above, the Scrip Calculation Price applicable toSouth African shareholders is 4,861.86 ZA cents. The scrip share allocationwill be as follows: Non-PID dividend No. of shares required to be held for one 27.88563new share The number of shares to be allocated will be calculated by dividing the totalvalue of the dividend otherwise receivable by the shareholder by the ScripCalculation Price and rounding down to the nearest whole number. Any fractionalentitlement (which for these purposes will be treated as a residual dividend),i.e. the total value of the dividend receivable less the value of the sharesallocated, will be paid out as cash but still treated as a non-PID dividend. By way of illustration of the above, the scrip share calculation will be asfollows for a shareholder who holds 100 shares: Non-PID dividend Amount of dividend entitled to receive R 174.35(per (a) above x 100): No. of shares entitled to receive: Calculation: 100/ 27.88563 No. of new shares: 3.58608 Example of fractional entitlementcalculation: Fraction (from above): 0.58608 Fractional entitlement (paid in cash): R 28.49439(multiply fraction by scrip price) (iii) Notes for South African shareholders On application by South African shareholders, 5 per cent of the 20 per cent UKwithholding tax deducted from a PID is claimable from the UK's HM Revenue &Customs ("HMRC"), resulting in an effective UK withholding tax rate of 15 percent. The Company will account to HMRC in sterling for the total UKwithholding tax deducted. Settlement of any claims for refund will becalculated and settled in sterling by HMRC. The information given in section (i) above will assist with applications forrefunds. For information on PIDs and refund claims, including claim forms andguidance on how to complete them, visithttp://www.intugroup.co.uk/investors/shareholders-bondholders/real-estate-investment-trust/. No secondary tax on companies (STC) credits will be available to be utilisedagainst any SA Dividends Tax withheld on the payment of the interim dividend.The number of shares in issue as at the declaration date was 973,845,701ordinary shares of 50p each. SA Taxation summary: Where the 2013 final dividend is paid in cash, it will constitute a foreigndividend and so will be exempt from South African income tax, but subject todeduction of SA Dividends Tax unless an exemption or rebate applies. For cashPIDs the liability to Dividends Tax will be offset by the net UK withholdingtax of 15 per cent, resulting in no Dividends Tax being deducted. For the cashnon-PID element of 43.5875 ZA cents per share, 15% SA Dividends Tax (6.53813 ZAcents per share) will be deducted unless an exemption or rebate applies. Thenet non-PID element will therefore be 37.04937 ZA cents per share. Where an election to receive shares under the Scrip Dividend Scheme has beenmade it is our understanding that it will not constitute a foreign dividend.Under current legislation, such shares will not therefore be subject toDividends Tax or income tax, but the full value of the shares on eventualdisposal will be subject to Capital Gains Tax with no base cost allowed. It isalso our understanding that where an election to receive shares under the ScripDividend Scheme has been made, any fractional entitlements paid in cash toshareholders will be treated in the same manner as that applicable to theunderlying element of the dividend, in this case a non-PID. Therefore cashresiduals payable to shareholders electing to receive shares in respect of the2013 final dividend will be subject to deduction of South African DividendsTax. The above information, and the guidelines on the taxation of dividends,including when taken as scrip shares, contained in the Scheme Booklet, isprovided as a general guide based on the Company's understanding of the law andpractice currently in force. Any Shareholder who is in any doubt as to theirtax position should seek independent professional advice.