Notice of AGM & Proposed Share Consolidation

6 June 2011

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

NOTICE OF AGM

PROPOSED SHARE CONSOLIDATION

The Company has today posted to Shareholders notice of the Annual General Meeting ("AGM") to be to be held at 9.00am on Thursday, 30 June 2011 at IOMA House, Hope Street, Douglas Isle of Man IM1 1AP. A copy of the letter to Shareholders including the notice of AGM (and the proxy forms for use by Shareholders) is available on the Company's website: www.alphaukmultipropertytrust.com

Contained within the documentation posted to Shareholders today are proposals for a share consolidation.

The Directors are of the view that it would benefit the Company and the Shareholders to consolidate the number of ordinary shares in issue, with a resulting improvement in the market price, by consolidating its ordinary share capital on the basis of every ten existing ordinary shares of 1 penny each into one ordinary share of 10 pence (the "Consolidation").

The Directors believe that the Consolidation may bring the following benefits to Shareholders, inter alia:

·; the prevailing share price of the Company has resulted in a substantial "bid/offer spread" - being the relative pricing at which ordinary shares can be bought and sold on market - which is both a constraint to existing Shareholders and reduces the appeal of the Company's ordinary shares to prospective shareholders. The Directors believe that this "bid/offer spread" may be substantially reduced following the Consolidation;

·; the Consolidation may help improve liquidity which may lead to some improvement in the Company's share price, notably relative to the Company's net asset value per share, which, following Consolidation, would be 336 pence per ordinary share (based on the Company's net asset value as at 31 March 2011);

·; the Directors have noted that the share price at its prevailing level is subject to high volatility on low volume trading, which is unfavourable to Shareholders; the Consolidation could help reduce this market volatility.

Assuming the relevant Shareholder approval is forthcoming, the Consolidation will become effective on Friday 1 July 2011. Accordingly, applications shall be been made by the Company to the UK Listing Authority and to the London Stock Exchange, whereby 8,409,520 ordinary shares of 10 pence each will commence trading on Friday 1 July 2011.

The number of new ordinary shares of 10 pence each to be issued to Shareholders pursuant to the Consolidation will be rounded down to the nearest whole ordinary share. If any Shareholders would otherwise become entitled to fractions of new ordinary shares as a result of the Consolidation, it is proposed that the Directors aggregate the fractions arising and sell the ordinary shares of 10 pence each representing fractional entitlements in the market and for the net proceeds of the sale of such ordinary shares to be retained for the benefit of the Company. It is also proposed that any fraction of an ordinary share still remaining thereafter be converted into deferred shares having the rights set out in the Company's Articles of Association.

If the Consolidation is approved by Shareholders:

·; Shareholders who hold their Ordinary Shares through CREST are expected to have their CREST accounts credited with the Ordinary Shares of 10 pence each on Friday 1 July 2011; and

·; in respect of Shareholders who hold their Ordinary Shares in certificated form, new share certificates for the Ordinary Shares of 10 pence each will be despatched by Friday 8 July 2011. Temporary certificates of title will not be issued and certificates for existing Ordinary Shares of 1 penny each will not be valid from 6.00 p.m. on 30 June 2011 and should be destroyed upon receipt of certificates in respect of the Consolidated Ordinary Shares. Pending despatch of the definitive certificates in respect of the new Ordinary Shares, transfers of the new Ordinary Shares held in certificated form will be certified against the register of members of the Company.

Contact:

Jonathan ClagueChairman, Alpha UK Multi Property Trust Plc+44 (0)1624 681250

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.