Lettings Update at Sheppey

19 January 2016

LXB RETAIL PROPERTIES PLC

(the "Company" or the "Group")

Lettings Update at Sheppey

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets, today announces the exchange of contracts with Pep & Co to let a 10,000 sq ft unit at Neatscourt Retail Park. Pep & Co, backed by the large South African retail group, Pepkor, is a new entrant to the UK retail market, having acquired c.50 stores across the country in the past 12 months. The letting is subject to certain planning and other obligations which are expected to be satisfied in the first quarter of 2016.

Following the completion of this letting, the Group will have a final unit of 5,000 sq ft of completed floorspace remaining and a pre-let with a national retailer is in solicitors' hands for this unit.

For further information please contact:

LXB Adviser LLP Tel: 020 7432 7900

Tim Walton, CEOBrendan O'Grady, FD

J.P. Morgan Cazenove (NOMAD) Tel: 020 7742 4000

Bronson Albery / Paul Hewlett

Stifel Tel: 0207 710 7600

Mark Young/Tunga Chigovanyika

Buchanan Tel: 020 7466 5000

Charles Ryland/Vicky Watkins