PDMR Dealing

15 August 2016

Phoenix Spree Deutschland Limited

("the Company")

PDMR Dealing

In three separate announcements on 31 May 2016, 2 June 2016 and 24 June 2016, the Company announced that Jörg Schwagenscheidt, Chief Executive of PMM Partners Germany GmbH, the German subsidiary of the Company's Property Advisor, had notified the Company that he had acquired a total of 42,100 ordinary shares in the Company (the "Transactions").

On 12 August 2016, the Company was notified by Mr Schwagenscheidt that the Transactions had been reversed by his stock broking service provider because it was unable to hold PSDL shares on its platform.

As a result, Mr Schwagenscheidt does not own any ordinary shares in PSDL.

For further information please contact:

Phoenix Spree Deutschland

Stuart Young +44 (0) 20 7292 7153