PDMR Dealing

31 May 2016

Phoenix Spree Deutschland Limited

("the Company")

PDMR Dealing

The Company was notified on 30 May 2016 that on 27th May 2016, Jörg Schwagenscheidt, Chief Executive of PMM Partners Germany GmbH, the German subsidiary of the Company's Property Advisor, acquired 30,000 ordinary shares in the Company at an average price of 183p per share.

Following this transaction, the beneficial holding of Mr Schwagenscheidt is equal to 30,000 shares, representing 0.032% of the issued share capital of the Company.

For further information please contact:

Phoenix Spree Deutschland

Stuart Young +44 (0) 20 7292 7153