Investment Update

25 January 2016

Duet Real Estate Finance Limited

(the "Company")

Investment Update

The board of the Company is pleased to announce that the full repayment of all principal and accrued interest has been received on the Master Fund's Belgian Office loan (Loan 11), earning returns in-line with its investment criteria.

The Company will announce further details concerning returning its cash to shareholders in the most efficient and cost effective manner shortly.

For further information, please contact:

DRC Capital LLP +44 (0)20 7042 0600

Dale Lattanzio

Cyrus Korat

Stifel Nicolaus Europe Limited +44 (0)20 7710 7600

Neil Winward

Mark Bloomfield

Tunga Chigovanyika