Director/PDMR Shareholding

Shaftesbury PLC

GRANT OF AWARD UNDER LONG TERM INCENTIVE PLAN

Shaftesbury PLC ("the Company") announces that on 17 January 2012, it awarded 65,800 nil cost options over the Company's Ordinary 25p shares to Christopher Ward under the Company's Long Term Incentive Plan. Christopher Ward joined the Company on 9 January 2012 as Finance Director. The award was made pursuant to a recommendation made by the Company's Remuneration Committee.

The shares will vest on the third anniversary of the date of grant subject to meeting performance criteria set by the Remuneration Committee and may be exercised in the six month period following vesting.

The performance conditions for the award which are identical to the performance conditions of options granted to the other executive Directors and staff on 7 December 2011 are as follows:

·; The performance condition attached to one half of an award will require average adjusted diluted annual net asset value ("NAV") growth of between RPI plus 3% to RPI plus 7% per annum over three financial years commencing 1 October 2011 for between 30% and 100% of this part of the award to vest (i.e. between 15% and 50% of the total award).

·; The performance condition attached to the other half will require total shareholder return ("TSR") performance against the FTSE 350 Real Estate Index to match or exceed it by up to 5.5% per annum over three financial years commencing 1 October 2011 for between 20% and 100% of this part of the award to vest (i.e. between 10% and 50% of the total award). For the purposes of calculating TSR, share price plus dividends reinvested will be averaged over the three months prior to the start and end of the performance period.

The award will vest on a straight line basis between minimum and maximum thresholds.

The three year performance period for the options granted commenced on 1 October 2011.

Penny Thomas

Company Secretary

17 January 2012

Telephone 020 7333 8118