Notification of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Alpha Tiger Property Trust

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

An event changing the breakdown of voting rights

3. Full name of person(s) subject to the notification obligation

Billien Limited

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

Cenkos Channel Island Nominees Limited

5. Date of the transaction (and date on which the threshold is crossed or reached if different)

13 May 2010

6. Date on which issuer notified:

20 May 2010

7. Threshold(s) that is/are crossed or reached:

25%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

 if possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary NPV Shares (GB00B13VDP26)

14,154,593

14,154,593

25%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period/ Date

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

14,154,593

25%

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

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

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

N/A

13. Additional information:

14. Contact name:

Nicola Le Page

Administration Manager

Billien Limited

15. Contact telephone number:

01481 713100