Notification of Major Interest in Shares

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Duet Real Estate Finance

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights - Transaction in Own Shares

ü

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

CCLA Investment Management Ltd (CCLA)

4. Full name of shareholder(s)  (if different from 3.):iv

COIF Charities Investment Fund

COIF Charities Ethical Investment Fund

CBF Church of England Investment Fund

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

21 July 2015

6. Date on which issuer notified:

22 July 2015

7. Threshold(s) that is/are crossed orreached: vi, vii

10%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GG00B628S547

7,187,089

7,187,089

Nil

Nil

7,187,089

Nil

10.00%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

7,187,089

10.00%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Not Applicable

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Due to a transaction in own shares, CCLA's holding has gone above the 10% threshold.

Last disclosure made on 17 March 2015 confirming a holding of 5,000,000 (6.778%) for a transaction that took place on 15 August 2011, resulting in CCLA's holding falling below the 10% threshold.

It was further reported that CCLA's holding as at 17 March 2015 was 7,187,089 ordinary shares representing 9.74% of the issued share capital.

14. Contact name:

Jackie Fox

15. Contact telephone number:

0207 489 6046