Interim Management Statement and NAV

ALPHA UK MULTI PROPERTY TRUST PLC (the "Company")

INTERIM MANAGEMENT STATEMENT AND NAV

The board of Alpha UK Multi Property Trust Plc advises that as at close of business on 30 September 2010, the diluted unaudited net asset value per Ordinary Share of the Company was 31.89 pence (31 August 2010: 31.57 pence). This represents an increase of 1.01 per cent per Ordinary Share.

The diluted net asset value of Ordinary Share is calculated taking into account the effect on net asset value per Ordinary Share if the £4.75 million Convertible Unsecured Loan Stock ("CULS") issued by the Company on 9 August 2010 to Alpha Tiger Property Trust Limited ("Alpha Tiger") be converted. The CULS instrument is issued at a coupon of 4.75% per annum and enables Alpha Tiger to convert the total unpaid amount of the CULS instrument into Ordinary Shares at the rate of 31 pence per Ordinary Share. The Company has not received notice from Alpha Tiger of its intention to convert its CULS instrument into Ordinary Shares. The Company will issue further CULS of £0.03 million to Alpha Tiger in respect of the coupon for the period to 1 October 2010 thereby preserving cash within the Company. This would increase the total value of the CULS to £4.78 million.

The property portfolio was valued at 30 September 2010 by DTZ Debenham Tie Leung Limited ("DTZ"). There has been an small increase in valuation of £0.01 million to a total valuation for the property portfolio of £112.26 million (30 June 2010: £112.25 million).

There were no property sales or acquisitions completed during September 2010.

The Company remains in active discussions with Nationwide Building Society ("Nationwide") in regard to the loan facility between Nationwide and the Company's subsidiary CHIP (Six) Limited. The waiver provided by Nationwide in respect of loan to value and forward interest cover and breaches expired on 16 October 2010. However while no formal approval has been provided by Nationwide the Board remains confident of achieving a satisfactory conclusion with Nationwide.

Since the last published net asset value per Ordinary Share at 31 August 2010 the value of the Company's interest swap liabilities have reduced by £0.32 million from £2.82 million to £2.50 million as at 30 September 2010.

The net asset value is calculated under International Financial Reporting Standards ("IFRS").

The property portfolio will next be valued by an external valuer at 31 December 2010 and the net asset value per share as at 31 December 2010 will be announced in March 2011.

For further information contact:

Steven Oliver

Close Investments Limited

020 7426 4000