Publication of prospectus

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA OR REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE THE EXTENSION OR AVAILABILITY OF THE OPEN OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

Public Service Properties Investments Limited (the "Company")

Publication of Prospectus

The Company announces that a prospectus dated today (the "Prospectus"), relating to the proposed 8 for 15 Open Offer of 35,631,326 Open Offer Shares at a price of 70 pence per Open Offer Share, has been approved by the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at 25 The North Colonnade, Canary Wharf, London E14 5HS.

Copies of the Prospectus will be posted to shareholders today and will also be available shortly on the Company's website (www.pspiltd.com). The Prospectus can also be inspected at the offices of Norton Rose LLP at 3 More London Riverside, London SE1 2AQ and at the offices of Evolution Securities Limited at 100 Wood Street, London EC2V 7AN, during normal business hours on any weekday (except Saturdays, Sundays and Bank Holidays).

Terms defined in the Prospectus have the same meanings in this announcement.

26 March 2010

Enquiries:

RP&C International (Asset Manager) Tel: 020 7766 7000Dr D Srinivas / Ralph Beney

Evolution Securities Limited Tel: 020 7071 4300

(Nominated Adviser, Financial Adviser and Broker)

Jeremy Ellis / Chris Clarke (Corporate Finance)

Chris Sim / Adam Strachan (Corporate Broking)

Tavistock Communications

Simon Hudson / Gemma Bradley Tel: 020 7920 3150

This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities in any jurisdiction in which such offer or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. The securities proposed to be offered by the Company have not been and will not be registered under the US Securities Act of 1933, as amended ("Securities Act") or under any securities laws of any state of the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the securities are being offered and sold: in offshore transactions (as defined in and in reliance on Regulation S under the Securities Act).In connection with the proposed offering, recipients of this presentation may not engage in any directed selling efforts (within the meaning of Regulation S under the Securities Act) with respect to the securities or in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with any offer or sale of the securities in the United States.

The offering of new shares in the Company to existing shareholders does not require the Company to hold a licence for collective investment schemes granted by the AFM (Autoriteit Financiële Markten) and the Company does not fall under the supervision of collective investment schemes as enacted by the Dutch Act on the Financial Supervision (Wet op het financieel toezicht).