Publication of Circular

17 March 2010

Hansteen Holdings PLC

("Hansteen" or the "Company")

PUBLICATION OF CIRCULAR

On 16 March 2010 Hansteen Holdings (LSE:HSTN), the investor in UK and continental European real estate announced that it had entered into a conditional agreement to acquire or procure the acquisition of an 861,010 sq m German industrial property portfolio from HBI S.à r.l. and HBI Delta Sub S.à r.l. for an effective acquisition cost of approximately €330 million, financed by using approximately €70 million from Hansteen's existing cash resources and the balance of approximately €260 million in debt.

In view of the size of the Proposed Acquisition, Shareholders' approval is required in order for Hansteen to proceed with the Proposed Acquisition. Hansteen confirms that a Circular to Shareholders relating to the Proposed Acquisition was approved yesterday by the UK Listing Authority (the "UKLA"). The Circular includes a notice convening a General Meeting to be held at the offices of Jones Day, 21 Tudor Street, London EC4Y 0DJ at 10.30 a.m. on 1 April 2010 for the purpose of considering and, if thought fit, approving the Proposed Acquisition.

The Circular was posted to Shareholders yesterday and copies of the Circular will shortly be available for inspection at the UKLA's Document Viewing Facility, which is situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.

In addition, the Circular will shortly be available to view on the Company's website (www.hansteen.co.uk), and will be available for inspection at the offices of Jones Day, 21 Tudor Street, London EC4Y 0DJ during usual business hours on any weekday (Saturdays, Sundays and public holidays excepted).

ENQUIRIES:

Capitalised terms used, but not defined, in this announcement have the same meanings as given to them in the Circular published by the Company dated 16 March 2010 unless the context requires otherwise.

KBC Peel Hunt Ltd, which is regulated by the FSA, is acting as Sponsor and Broker for the Company in relation to the Proposed Acquisition and is not acting for any other person and will not be responsible to any other person for providing the protections afforded to clients of KBC Peel Hunt or for providing advice in relation to the Proposed Acquisition or any other arrangements referred to herein.