End of Stabilisation Period

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR AUSTRALIA.

26 March 2010

Metric Property Investments plc ("Metric" or the "Company")

Exercise of Over-allotment Option and end of Stabilisation Period

Metric announces that, in connection with the Placing and Offer for Subscription of its securities (as set out below) (the "Issue") and its admission to the Official List and to trading on the main market of the London Stock Exchange, J.P. Morgan Cazenove, as stabilising manager, has today given notice to exercise in full the Over-allotment Option in respect of 15,000,000 Ordinary Shares of the Company (the "Over-allotment Shares") at the Issue Price of 100 pence per Ordinary Share, as described in the Prospectus published by the Company and dated 8 March 2010, raising additional gross proceeds for the Company of £15 million. The Over-allotment Shares are expected to be admitted to trading on the main market of the London Stock Exchange on 31 March 2010. 

Including the exercise of the Over-allotment Option, the Company will have in issue 190,000,000 Ordinary Shares.

J.P. Morgan Cazenove, stabilising manager in respect of the Issue, has given notice that the stabilisation period in respect of the Company's securities ended today. 

The stabilisation period began on 19 March 2010 and no stabilisation transactions were undertaken during the stabilisation period.

For further information, please contact:

J.P. Morgan Cazenove

Robert Fowlds / Bronson Albery / Paul Hewlett

Tel: +44 (0)20 7588 2828

Defined terms in this announcement are set out (unless the context requires otherwise) in the Prospectus.

J.P. Morgan Cazenove is a marketing name for the UK investment banking business of J.P. Morgan Securities Ltd.

Important Notices

This announcement, and the information contained therein, is not for viewing, release, distribution or publication, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, Japan, or any other jurisdiction where applicable laws prohibit its release, distribution or publication, and will not be made available to any national, resident or citizen of the United States, Canada, Australia, the Republic of South Africa, or Japan. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this document comes must inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the federal securities law of the United States and the laws of other jurisdictions.

The ordinary shares of the Company (the "Ordinary Shares") have not been,and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"). The Ordinary Shares cannot be offered, re-sold, pledged or otherwise transferred, directly or indirectly, in or into the United States or to, or for the account or benefit of, any US Person (as defined in Regulation S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Ordinary Shares are being offered or sold outside the United States in reliance on Regulation S, and within the United States pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offering of the Ordinary Shares in the United States.

The Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to benefits under the Investment Company Act.