GE AM Sale of London & Stamford Property

8 December 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION 

GENERAL ELECTRIC PENSION TRUST SALE OFLONDON & STAMFORD PROPERTY PLC SHARES

GE Asset Management Incorporated (in its capacity as investment manager of the General Electric Pension Trust) hereby announces that it intends to sell approximately 50m ordinary shares in London & Stamford Property plc ("London & Stamford"), constituting approximately 9.2 per cent of the issued share capital of London & Stamford (the "Transaction").

GE Asset Management is a financial investor with a broad portfolio of assets and is not represented on the Board of London & Stamford.

Credit Suisse has been appointed as sole bookrunner and joint lead manager, and Peel Hunt as joint lead manager, with respect to the Transaction.

Bookbuilding in relation to the Transaction will commence immediately. Pricing and allocations are expected to be announced as soon as practicable following the closing of the books. 

General 

For further information, please contact:

Credit SuisseRobert Mayhew

Tel: +44 207 888 6197

Peel Hunt

Capel Irwin

Tel: +44 207 418 8907

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MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE TRANSACTION.THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLYADDRESSED TO PERSONS WHOSE ORDINARY ACTIVITIES INVOLVE THEM IN ACQUIRING, HOLDING, MANAGING AND DISPOSING OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSES OF THEIR BUSINESS AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS AND ARE: (A) PERSONS IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA WHO ARE QUALIFIED INVESTORS AS DEFINED IN SECTION 86(7) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA"), BEING PERSONS FALLING WITHIN THE MEANING OF ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED INVESTORS"); AND (B) IN THE UNITED KINGDOM FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") OR ARE PERSONS WHO FALL WITHIN ARTICLE 49(2)(A) TO (D) ("HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC") OF THE ORDER; OR (C) PERSONS TO WHOM IT MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION REGARDING THE TRANSACTION SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The shares in London & Stamford Property plc have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Such shares may not be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States. Copies of this press release are not being made and may not be distributed or sent into the United States.

This announcement does not constitute a public offering of securities for sale in the United States, the United Kingdom or elsewhere. Any public offering of securities would be made by means of a prospectus that contains detailed information about London & Stamford Property plc and its management, as well as financial statements. A prospectus will not be published in connection with the bookbuild. Copies of this announcement are not being, and should not be, distributed in or sent into the United States, Australia, Canada, Japan, South Africa or any other jurisdiction where to do so would be a breach of laws. 

Credit Suisse Securities (Europe) Limited and Peel Hunt LLP are acting only for General Electric Pension Trust and no-one else in connection with the subject matter of this announcement and will not regard any other person as its client or be responsible to any person other than General Electric Pension Trust for providing the protections afforded to clients of Credit Suisse Securities (Europe) Limited or Peel Hunt LLP or for providing advice in connection with this announcement or any other matter referred to herein.