Result of AGM & EGM

9 August 2010

Close High Income Properties plc ("CHIP") - result of AGM and EGM

CHIP today held an AGM and EGM to consider, inter alia, the Proposals and the Panel Waiver, as set in the Circular dated 13 July 2010. CHIP is pleased to announce that the AGM Resolutions and the EGM Resolutions were all passed by the necessary majorities. The Panel Waiver Resolution had 16,696,349 Shares cast in favour (98% of those voting) and 312,199 Shares cast against(2% of those voting). Consequently the Proposals have completed and Close High Income Properties plc will change its name to Alpha UK Multi Property Trust PLC ("Alpha UKMPT").

Commenting on the results of the AGM/EGM, Jonathan Clague, Chairman of CHIP said: "We're very pleased that the Resolutions have been passed, and we are looking forward to working with Alpha Real as the new investment adviser with continued support from Close. The passing of the Resolutions will allow the Fund to make further progress with the portfolio and enable shareholder value to be enhanced over the next three years. " Capitalised terms in this announcement have the same meaning as defined in the Circular published on 13 July 2010. For further information please contact: Alpha Real Capital Phillip Rose 020 7268 0333 Close Asset Management Nigel Ashfield 020 7426 4000