IERET REPAYS FURTHER DEBT

26 January 2012

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust repays further debt

Debt Reduction 

The Company announces that it has used €11.3 million from its existing cash balances to make a further repayment of the senior debt facility, so reducing the Loan to Value, as defined in the bank facility agreement, ("LTV") below 65%. This will enable the Company to continue to benefit from a reduced margin and resultant lower interest charges.

The interest rate on the senior loan facility with Bank of Scotland was set on 25th January 2012 and tested on the Company's LTV ratio based on the back dated 31 December 2011 valuation. With portfolio valuation declines over the last six months, LTV rose above 65% by 31 December 2011. In executing a debt repayment on 25 January 2011, the Company reduced the LTV ratio below 65% for the purposes of the test and will thereby avoid any increase in margin on the outstanding debt.