Director/PDMR Shareholding

1.

Name of the issuer

PHOENIX SPREE DEUTSCHLAND LIMITED

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R,

(ii) a disclosure made in accordance

LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

(i) DTR 3.1.2 R

3.

Name of person discharging managerial

responsibilities/director

P RUDDLE

4.

State whether notification relates to a person

connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

P RUDDLE - CONNECTED PERSONS (MANAGING DIRECTOR OF PMM PARTNERS (UK) LIMITED, THE COMPANY'S PROPERTY ADVISOR)

V RUDDLE - CONNECTED PERSONS (WIFE OF P RUDDLE)

5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial

interest 1

BENEFICIAL INTEREST AS 3 AND 4 ABOVE

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

SHARES OF NO PAR VALUE

7.

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

P RUDDLE (530,892 SHARES)

CURTIS BANKS FULL SIPP - P RUDDLE (543,842 SHARES)

V RUDDLE (444,424 SHARES)

8.

State the nature of the transaction

TRANSFER OF SHARES

9.

Number of shares, debentures or financial

instruments relating to shares acquired

CURTIS BANKS FULL SIPP - P RUDDLE (222,600 SHARES)

CURTIS BANKS FULL SIPP - V RUDDLE (145,000 SHARES)

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.53%

11.

Number of shares, debentures or financial

instruments relating to shares disposed

P RUDDLE (367,600)

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

0.53%

13.

Price per share or value of transaction

367,600 SOLD @ 144.88 PER SHARE

222,600 BOUGHT @ 144.89 PER SHARE

145,000 BOUGHT @ 144.89 PER SHARE

14.

Date and place of transaction

29 JUNE 2015, LONDON, UK

15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

2.17%

16.

Date issuer informed of transaction

29 JUNE 2015, LONDON, UK

17.

Date of grant

18.

Period during which or date on which exercisable

19.

Total amount paid (if any) for grant of the option

20.

Description of shares or debentures involved (class and number)

21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

22.

Total number of shares or debentures over which options held following notification

23.

Any additional information

24.

Name of contact and telephone number for queries

Name of authorised official of issuer responsible for making notification

APPLEBY SECRETARIES (JERSEY) LIMITED

Date of notification 30 JUNE 2015

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.