Re possible offer for keif

Hansteen Holdings plc

("Hansteen" or "the Company")

Statement re. possible offer for Kenmore European Industrial Fund Limited ("KEIF")

On 25 November 2009 Hansteen announced that it had made an approach to the Board of KEIF in relation to a potential offer by Hansteen for the remaining issued and to be issued ordinary share capital of KEIF and stated that there could be no certainty that an offer would be made.

Hansteen announces that it is no longer considering making an offer for KEIF.

Important Notice:

For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers (the "Code"), Hansteen reserves the right (on behalf of itself and anyone acting in concert with it) to announce an offer or possible offer for KEIF and/or to take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months in the event that:

1. the agreement or recommendation of the Board of KEIF is given to the making of such an announcement or the taking of any such other action; or

2. a third party announces an offer for KEIF; or

3. KEIF announces a 'whitewash proposal' or a 'reverse takeover' (each defined in the Code).

For further information: