Confirmation of REIT status

Schroder Real Estate Investment Trust Limited (the 'Company') Confirmation of REIT status Schroder Real Estate Investment Trust (the 'Company')is pleased to announcethat 96.5% of voting shareholders voted in favour of the special resolution toconvert to Real Estate Investment Trust ('REIT') status. Following thissupport from shareholders, the Company is to enter the REIT regime on oraround 1 May 2015. In its existing structure as a London listed and Guernsey domiciled investmenttrust, the Company had delivered a strong track record of providing investorswith an attractive level of income together with the potential for futurelong-term income and capital growth through investing predominantly in UKcommercial real estate markets. As a UK-REIT the Company therefore expects to: - Reduce the overall burden of UK taxation and increase the net income andoverall profitability of the Company; - Benefit most shareholders' potential returns, as UK-REIT qualifying assetswill be largely exempt from corporation tax in the UK on both rental profitsand chargeable gains; - Improve liquidity as a result of being available to a broader investor basethan was previously possible; and - Improve the Company's ability to be agile and consequently more competitivewhen acquiring assets in corporate structures in the UK by removing CapitalGains Tax liabilities. Commenting, Lorraine Baldry, Chairman of the Board, said: "As a UK-REIT wewill offer a tax efficient structure enabling the Company to distributeoptimal returns for shareholders as well as potentially enhancing theliquidity of our shares. Against the backdrop of a growing UK economy, lowerinflation and low interest rates, and with a strong and diversified portfoliowhich already offers considerable opportunity to add value, the Company iswell positioned for future growth as it continues the successful execution ofits investment strategy." Duncan Owen, Global Head of Schroder Real Estate Investment ManagementLimited, added: "Schroder REIT has generated competitive returns forshareholders through active investment and subsequent asset managementalongside the refinancing of its debt at a materially lower cost with longterm and stable senior loans. The conversion to an onshore REIT will nowbetter enable us to continue to drive returns in the future environment. Welook forward to continuing to deliver performance for our shareholders as webenefit from lower tax costs and greater operational flexibility within the UKreal estate market. -ENDS- For further information: Schroder Real Estate Investment Management Limited: 020 7658 6000Duncan Owen / Nick Montgomery J.P. Morgan Cazenove: 020 7742 4000William Simmonds Numis Securities: 020 7260 1000David Benda Northern Trust: 01481 745529David Sauvarin FTI Consulting: 020 3727 1000Dido Laurimore / Ellie Sweeney