Employee share option scheme

03 January 2012

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. Further awards were made under the Scheme in April 2010 and again in April 2011 to two additional non-board employees. 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.

In May 2011 it was announced that the Company had issued an additional 185,185,186 New Ordinary Shares by way of a Placing and Open Offer at the price of 81p per share.

As a result of this equity issuance, the exercise prices 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.

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. In April 2011, the Company raised a further £150 million by way of a Placing and Open Offer.

Hansteen has a portfolio of 277 assets with a value of around £989.9 million