Response to J Stocks & Co Announcement

Industrial Multi Property Trust plc

Response to J Stocks & Co Announcement

The Board of Industrial Multi Property Trust plc (the "Company") notes the announcement made this morning by J Stocks & Co. ("J Stocks") in relation to the posting of a letter to the Company's shareholders.

The Board believes that the announcement and letter appears to contain little in the way of new information following the Board's announcement on 31 May 2016 in response to press speculation. As explained by the Board on 31 May 2016, the unsolicited, conditional proposal did not take into account current loan facility repayment penalties (as set out in the Company's report and accounts) or other costs of winding up. In light of such costs shareholders would have received an amount at a substantial discount to net asset value per share. Accordingly, the Board rejected the approach for the Company's portfolio.

Contrary to the claims made by J Stocks, the Board has communicated a very clear plan to address the discount to net asset value at which the Company's shares trade. It is targeting a refinancing of the portfolio in the fourth quarter of this year when certain of the Company's loan facilities (which continue to December 2018) can be repaid without penalty. Furthermore, it has also undertaken that if such a refinancing is not possible it will consider alternative ways to improve shareholder value at that time including a managed winding up of the Company.

Now is clearly not the time to consider the sale of the portfolio to the first party who makes an opportunistic, unsolicited and conditional proposal. Consequently, the Board urges shareholders to take no action in relation to the J Stocks announcement and letter and recommends that they vote in favour of all the resolutions at the forthcoming Annual General Meeting.

For further information, please contact:

Jonathan ClagueChairman, Industrial Multi Property Trust Plc+44 (0) 1624 681250

Tom PissarroFund Manager, Alpha Real Capital LLP

+44(0) 20 7391 4714

Alastair Moreton/Rose RamsdenFinancial Adviser and Broker, Stockdale Securities Ltd

+4(0) 20 7601 6118