Notice to Terminate Administration Agreement

3 October 2012

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust SERVES NOTICE TO tERMINATE THE aDMINiSTRATION aGREEMENT WITH cITCO s.a.

As mentioned in the NAV and Interim Management Statement released on 3 September 2012, Invista European Real Estate Trust is conducting a tender process for the Company's corporate accounting and administrative services. In light of the tender process being conducted, the Company announces that protective notice has been served to terminate the administration agreement with Citco (Luxembourg) S.A., the current administration provider since November 2006.

The termination will take effect on 31 January 2013, being the first month end after the 120 days notice served on 2 October 2012.

Michael Sandler

Hudson Sandler 020 7796 4133