Net Asset Value(s)

CLOSE HIGH INCOME PROPERTIES PLC (the "Company")

ANNOUNCEMENT OF NAV

The board of Close High Income Properties PLC advises that as at close of business on 31 May 2010, the unaudited net asset value per Ordinary Share of 1 penny each of the Company was 31.79 pence (30 April 2010: 31.89 pence). This represents a decrease of 0.32 per cent per Ordinary Share.

During the month the market value of the first interest rate swap liability entered into by the Company decreased by £0.23 million to a liability of 1.86 million (30 April 2010: liability of £2.09 million). The market value of the second interest rate swap liability entered into by the Company increased by £0.07 million to a liability of £0.25 million (30 April 2010: liability of £0.18 million). The market value of the third interest rate swap liability entered into by the Company increased by £0.2 million to a liability of £0.60 million (30 April 2010: £0.40 million). The total increase in the Company's interest rate swap liabilities during the month represented a decrease in net asset value of £0.03 million to a total liability of £2.70 million (30 April 2010: total liability of £2.67 million).

Whilst the total market valuation of the interest rate swaps is currently in deficit, their value will run to zero over the term of the contracts. The swaps continue to provide a fixed rate of interest to the Company. It is not the intention of the Company to dispose of the swaps and realise the deficit as the Company continues to benefit from fixed rate funding.

There were no property sales completed during May 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 30 June 2010 and the net asset value per share as at 30 June 2010 will be announced in July 2010.

For further information contact:

Steven Oliver

Close Investments Limited

020 7426 4000