Employee share option scheme

30 December 2010

Hansteen Holdings PLC

("Hansteen" or the "Company")

In 2005, Hansteen established an employee share option scheme (the "Scheme") for five non-board employees, one of whom is now a board director. Under the rules of the Scheme the exercise price of any options granted under the Scheme ("Options") is to be adjusted following any issue of Hansteen's ordinary shares ("Ordinary Shares") where such Ordinary Shares are issued at a price below the prevailing mid-market price of an Ordinary Share at the time of issuance.

On 10 July 2009, 267,768,451 new Ordinary Shares were issued by way of a Placing and Open Offer and on 25 November 2009 4,148,149 new Ordinary Shares were issued in part consideration for a 12% stake in Kenmore European Industrial Fund (now Tamar European Industrial Fund) at prices below the prevailing market prices at the relevant time.

As a result of this equity issuance, the exercise price of the Options granted under the Scheme have now been adjusted as follows:

The 300,000 Options granted on 03/01/2006, and 300,000 of the Options granted on 20/04/2009 were granted to Richard Lowes, a PDMR of Hansteen at the date the options were granted, and now a Director of the Company. None of the remaining options are held by Directors or PDMRs of Hansteen. All other details relating to the Options remain unchanged.

For further information:

Notes to Editors

Hansteen Holdings PLC (LSE: HSTN) is a European industrial REIT that invests in properties with high yields, low financing costs and opportunity for value improvement across the Netherlands, Germany, Belgium, France and the UK.

In 2010 Hansteen increased its portfolio to 189 assets with a value of around £721.9 million through the acquisition of a German industrial property portfolio from HBI for approx. €330 million and the acquisition of the 1.2 million sq ft multi-sector Kilmartin portfolio of UK properties for £80.37 million.

In August 2009 Hansteen launched Hansteen UK Industrial Property Unit Trust (HPUT), a vehicle with up to £180 million to invest in UK industrial property with a value of £15 million or less, or portfolios under £30 million.

Founded by Morgan Jones and Ian Watson the Company listed on AIM in November 2005 raising £125 million. In 2009 it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter.