Final lettings completed at 10 Hammersmith Grove

2nd September 2014

Final office lettings completed at 10 Hammersmith Grove

Development Securities PLC and the SWIP Property Trust today announce that they have completed the final two lettings at 10 Hammersmith Grove to leading media company, FOX International Channels (UK) Limited (FIC), and to Philip Morris Limited (PML), the UK affiliate of global tobacco company, Philip Morris International. FIC has signed a lease to occupy one and a half floors of the building, a total of 22,600 sq. ft. of office space whilst PML has taken 34,240 sq. ft. of office space across the top three floors of the building. 10 Hammersmith Grove will serve as the new UK headquarters to FIC and PML.

FIC and PML will add to the strong mix of commercial tenants within the building, with lettings to multi-channel broadcaster, UKTV, and international hotels group, Accor, announced earlier this year.

Located in Hammersmith town centre, 10 Hammersmith Grove features 110,000 sq. ft. of Grade A office space over eight floors, with three exclusive roof terraces. The development also includes three restaurant units, two of which have been let to Byron and Bill's, facing onto 6,000 sq. ft. of new landscaped public space.

At 12 Hammersmith Grove, the second phase of development which will provide a further 167,000 sq. ft. of prime office space, construction is underway with practical completion due in Q1 2016.

Julian Barwick, Executive Director, Development Securities said: "We are delighted to have completed the letting of 10 Hammersmith Grove which offers some of the best quality office space in West London. The quality and mix of tenants that we have secured further establishes Hammersmith as a significant commercial hub. We are confident of continuing this success with the second building, 12 Hammersmith Grove."

Kerri Hunter, Deputy Manager of the SWIP Property Trust, now part of Aberdeen Asset Management, commented: "10 Hammersmith Grove has set a new benchmark for offices in Hammersmith, providing West End quality space within an undersupplied market. Fox International Channels and Philip Morris Limited join a strong line-up of tenants and the letting success that we have achieved reflects the quality of the product that we have delivered with this first building."

Diego Londono, Chief Operating Officer, FOX International Channels Europe & Africa, commented: "We are excited about our move to Hammersmith Grove. This will be our new home for the team dedicated to the FIC UK business, but also a number of FIC global functions including NGCI, FIC Global Sports and Syndication, Baby TV and our FIC Europe & Africa executive team. It's a fantastic location, very accessible for employees and partners."

Martin Inkster, Managing Director, UK & Ireland, PML said: "Philip Morris' origins began here in London in 1847. We've come a long way since then. Our move to 10 Hammersmith Grove forms part of an exciting new chapter for our business as we introduce our own field force into the UK market. This will enable us to better support retailers and the trade through consistent and effective brand engagement."

Development Securities and the SWIP Property Trust were advised by Strutt & Parker and JLL. Fox International Channels was advised by DTZ. Philip Morris Limited was advised by Savills.

For further information, please contact:

Julian Barwick/Lucy Grimble, Development Securities

020 7828 4777

Notes to Editor

About Aberdeen Asset Management

Aberdeen is the parent company of a global independent asset management group. Formed out of a management buy-out in Aberdeen, Scotland, in 1983, Aberdeen is a FTSE 100 company operating on-the-ground in over 23 countries across Europe, Asia and the Americas.

The Group is defined by its pure focus on asset management, including equities, fixed income, property and multi-asset portfolios. All investment solutions are driven by its commitment to straightforward, transparent investment approaches that stress intensive, first-hand research and a long-term view.

Aberdeen Asset Management announced the completion of the acquisition of SWIP on 1 April 2014. The sale of SWIP to Aberdeen has created the largest listed asset management business in Europe, with more £322.5bn billion under management as at end June 2014.

Further information about Aberdeen can be found at www.aberdeen-asset.com

About FOX International Channels

FOX International Channels (FIC) is 21st Century FOX's international multi-media business. We develop, produce and distribute 300+ wholly- and majority-owned entertainment, sports, factual and movie channels in 44 languages across Latin America, Europe, Asia and Africa. FIC's core channel brands include FOX, FOX Sports, FOX Life and National Geographic Channel. FIC's movie channels include FOX Movies, FOX Movies Premium, Star Chinese Movies and Moviecity. These networks and their related mobile, non-linear and high-definition extensions, reach over 1.7 billion cumulative households worldwide. FIC is dedicated to delivering high quality US content to its global viewers. We acquire, develop, produce and co-produce scripted and non-scripted programming for our linear and digital platforms including the Golden Globes nominated hit series The Walking Dead, The Bridge and Da Vinci's Demons. In the past five years FIC pioneered a global release strategy and is the first and only international TV company to release TV series in 125 countries at the same time as the US. In addition FIC owns and operates two production studios that produce hundreds of local programming hours for its wholly owned channels and third parties.

About Philip Morris Limited

Philip Morris Limited is the UK affiliate of Philip Morris International (PMI), the leading international tobacco company, which owns seven of the world's top 15 cigarette brands, including the world's number one brand Marlboro. Founded in London in 1847, Philip Morris Incorporated established Philip Morris International (PMI) in 1967. Today PMI has over 90,000 employees worldwide and sells its products in over 180 countries globally. For more information, visit the website www.pmi.com