Notice of EGM

F&C UK REAL ESTATE INVESTMENTS LIMITED To: RNS From: F&C UK Real Estate Investments Limited Date: 25 November 2014 CONVERSION TO UK REIT As noted in the annual report and financial statements for the year ended 30June 2014 the Board of F&C UK Real Estate Investments Limited (the "Company")recently completed a review of the tax efficiency of the Company's presentstructure and concluded that it would be in the best interests of Shareholderstaken as a whole ifthe Company becomes a UK based real estate investment trust(a "REIT"). Accordingly, the Company has today published a circularto Shareholders (the"Circular")in connection with the proposals for the Company to become taxresident in the UK for the purposes of entering into the UK REIT regime (the"Proposals") and proposing resolutions to approve the necessary amendments tothe Company's articles of incorporation (the "Articles") in connection with theProposals and a related party transaction in relation to Friends Life Limited'ssubstantial shareholding in the Company under the REIT regime. The Proposals are conditional on Shareholders approving the resolutions to beproposed at the General Meeting and are expected to become effective in January2015. The General Meeting will be held at 9.00 a.m. on 19 December 2014 atTrafalgar Court, Les Banques, St. Peter Port, Guernsey GY1 3QL. A copy of the Circular has been submitted to the National Storage Mechanism andwill shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. All enquiries to: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey)LimitedTrafalgar CourtLes BanquesSt. Peter PortGuernsey GY1 3QL Tel: 01481 745324Fax: 01481 745051