Non-Mainstream Pooled Investments

Duet Real Estate Finance Limited

(the "Company")

Non-Mainstream Pooled Investments

The Board notes the rules of the UK Financial Conduct Authority ("FCA") on the promotion of non-mainstream pooled investments set out in Chapter 4.12 of the FCA's Conduct of Business Sourcebook (the "NMPI Rules") which came into force on 1 January 2014. The Board confirms that it conducts the Company's affairs, and intends to continue to conduct its affairs, so that the Company's shares will be "excluded securities" under the NMPI Rules. This is on the basis that the Company, which is resident outside the EEA, would qualify for approval as an investment trust by the Commissioners for HM Revenue and Customs under sections 1158 and 1159 of the Corporation Tax Act 2010 if resident and listed in the United Kingdom. Therefore, the Company's shares will not amount to non-mainstream pooled investments. Accordingly, promotion of the Company's shares will not be subject to the FCA's restriction on promotion of non-mainstream pooled investments.

For further information, please contact:

International Administration Group (Guernsey) Limited

Company Secretary

+44 (0)1481 723450

DRC Capital LLP +44 (0)20 7042 0600

Dale Lattanzio