Results of the Extraordinary Resolution

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR INTO THE UNITED STATES OR THE REPUBLIC OF ITALY

PEEL LAND AND PROPERTY INVESTMENTS PLC

(formerly Peel Investments (UK) Limited)

(the "Company")

Results of the meeting of holders of 9.875 per cent First Mortgage Debenture Stock 2011 of the Company (ISIN: GB0006783558) ("the Stock")

12 May 2010

At the meeting of Stockholders held earlier today, the Extraordinary Resolution set out in the Notice of Meeting dated 19 April 2010 was duly passed. Accordingly, the Deed of Amendment and Restatement has been executed.

The Extraordinary Resolution and the Deed of Amendment and Restatement will come into effect when certain associated conditions have been met by the Company. This date (the "Approval Date") is expected to be 26 May 2010 and; provided the relevant conditions have been met, will be in any event no later than 30 July 2010. A further announcement will be made in due course confirming the Approval Date or, if conditions have not been satisfied before 30 July 2010, confirming that the Approval Date has not occurred.

It remains the current intention of the Company, if market conditions permit, to tap the amended Stock on or around the Approval Date.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Notice of Meeting.

For further information please contact:

Peel Land and Property Investments Plc

Company Secretarial Department

0161 629 8200

DISCLAIMER

This announcement is for information purposes only and must be read in conjunction with the Consent Solicitation Statement. This announcement and the Consent Solicitation Statement are directed solely at holders of the Stock.