Re Rushden Lakes Planning Decision

For immediate release 12 February 2014

LXB RETAIL PROPERTIES PLC

(the "Company" or the "Group")

RUSHDEN LAKES - PLANNING INQUIRY DECISION DELAYED

LXB Retail Properties Plc, a closed-ended real estate investment company focused on edge of town and out of town retail assets, had previously announced that the outcome of the Planning Inquiry for the Rushden Lakes leisure and retail investment was expected in mid-February 2014. The Group has now been advised by the Department for Communities and Local Government ('DCLG') that the Secretary of State will not be in a position to reach a decision on the matter by the target date of 13 February 2014.

The Group is naturally disappointed by the continued delay in receiving confirmation that it can go ahead with this major investment but fully understands that DCLG Ministers and officials will need to give priority to the flood issues affecting many parts of the country. 

Whilst no new date for a decision has been advised, DGLG has said 'the case remains under careful consideration and the Secretary of State hopes to be in a position to write again to parties as soon as possible.'

For further information please contact:

LXB Adviser LLP Tel: 020 7432 7900

Tim Walton, CEOBrendan O'Grady, FD

Buchanan Tel: 020 7466 5000

Charles Ryland/Sophie McNulty/Helen Greenwood