Net Asset Value(s)

31 March 2011

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

ANNOUNCEMENT OF NET ASSET VALUE PER SHARE AT 31 DECEMBER 2010

The Company, which is invested primarily in UK commercial property, today announces its net asset value of 33.5 pence per Ordinary Share at 31 December 2010. This represents an increase of 14.8% on the previous year.

The results of the Company for the year ended 31 December 2010 will be announced on 8 April 2011.

Contact:

Jonathan ClagueChairman, Alpha UK Multi Property Trust Plc31 March 2011Tom PissarroFund Manager, Alpha Real Capital LLP 020 7268 0300

For more information on the Company please visit www.alphaukmultipropertytrust.com.

For more information on the Company's Investment Manager please visit www.alpharealcapital.com.