Management Update

Alpha UK Multi Property Trust PLC (the "Company")

Completion of sale of the property fund management business of Close Brothers Group plc to the Alpha Real Capital group

The Board of the Company is pleased to announce that on 25 February 2011, the Alpha Real Capital group ("Alpha") completed the acquisition of the property fund management business of Close Brothers Group plc. As a consequence, the contractual arrangement between Alpha and Close Investments Limited (a subsidiary of Close Asset Management Holdings Limited) ceased with immediate effect.

The whole of Close's property investment and client servicing team transferred to Alpha at completion and therefore it is anticipated that the management of the Company will not materially alter as a consequence of this transaction.

Contact:

Jonathan Clague

Chairman, Alpha UK Multi Property Trust Plc