Directorate Change

7 January 2013

Duet Real Estate Finance Limited (the "Company")

Directorate Change

Further to the Company's announcement on 2 January 2013 of the sudden death of Quentin Burgess, non-executive Chairman of the Company, the board has appointed David Staples as non-executive Chairman with immediate effect. Mr Staples has been a non-executive director of the Company and Chairman of the Audit Committee since inception in March 2011.

John Falla, also a non-executive director of the Company since inception, will replace Mr Staples as Chairman of the Audit Committee, also with immediate effect.

The Board has commenced the search for a new non-executive director to join the board and a further announcement will be made in due course.

David Staples commented:

"Quentin chaired the board of the Company with great skill since its inception in 2011. His stewardship and valued input will be greatly missed. Once again the directors would like to extend their sincere condolences to Quentin's family and colleagues."

For further information please contact:

International Administration Group (Guernsey) Limited

Company Secretary

+44 (0)1481 723450