Director Declaration

In accordance with the requirements of the London Stock Exchange Listing Rule 9.6.14, IRP Property Investments Limited announces that Mr Christopher Sherwell, a non-executive director, has informed the company that he has been appointed to the Board of Baker Steel Resources Trust Limited (a Company listed on the London Stock Exchange and admitted to trading with effect from 28 April 2010).

All Enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

David Sauvarin

Tel: 01481 745529

Fax: 01481 745051