EGM Statement

19 November 2010

NewRiver Retail Limited ("NewRiver" or the "Company")

Proposed REIT conversion and issue of up to £25.0 million of convertible unsecured loan stock Results of Extraordinary General Meeting

NewRiver is pleased to announce that both of the resolutions put to Shareholders at the Extraordinary General Meeting (the "EGM") of the Company held earlier today were duly approved.

The resolutions were as follows:

·; NewRiver's proposed election to HMRC to enter the UK-REIT regime; and

·; the proposed issue by NewRiver of up to £25.0 million of Convertible Unsecured Loan Stock ("CULS"), of which £15.0 million nominal value A CULS is to be placed firm with Forum, a wholly-owned subsidiary of FERI III, and up to £10.0 million nominal value CULS is to be held for future issue by the board of the Issuer (of which Spearpoint has conditionally committed to subscribe for up to £8.0 million of B CULS and Forum has conditionally committed to subscribe for up to a further £2.0 million of A CULS).

In accordance with the approval of Resolution 1 - Allan Lockhart, Mark Davies and Nick Sewell have all been appointed to the Board of NewRiver Retail Limited. David Lockhart has been appointed Chief Executive Officer. In accordance with the approval of Resolutions 1 and 2 and the Forum Subscription Agreement now being unconditional Andrew Walker has been appointed to the Board as the Forum Board representative.

The voting on both resolutions proposed were carried on a poll. There were 10,399,146 votes for each resolution and in each case 100% of votes cast were in favour.

Capitalised terms used in this announcement have the same meanings ascribed to them as set out in the announcement by NewRiver on 28 October 2010.

- Ends -

For further information:

www.newriverretail.com

NewRiver Retail Limited

David Lockhart Tel: 0203 328 5800

Kinmont (Financial Adviser)

John O'Malley

Mathew Thackery Tel: 0207 087 9100

Cenkos Securities

Ian Soanes

Max Hartley Tel: 0207 397 8900

Pelham Bell Pottinger

David Rydell

Rosanne Perry Tel: 0207 861 3232