Sale of Office Property in Saint Cyr, France

20 June 2018

LEI: 213800NEM44T9QHNQV27

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS OFFICE PROPERTY IN SAINT CYR, ILE-DE-FRANCE, FRANCE

Alpha Pyrenees has sold an office property, of approximately 6,340 square metres, located in Ile-de-France, France for €2.5 million.

The purchaser is a private French investment company.

The sale represents the completion of the orderly realisation process supported by the Trust's lender, Barclays Bank PLC, and the net proceeds from this sale will be used to reduce the Trust's bank borrowings.

As the Board has previously stated, the sales process will not result in any return to ordinary shareholders after repayment of the Trust's bank borrowings has taken place, to the extent that this is possible.

The Trust will provide further updates in due course.

For further information:

Serena Tremlett, Chairman, Alpha Pyrenees Trust Limited 01481 231100

Paul Cable, Fund Manager, Alpha Real Capital LLP 020 7391 4700

For more information on the Trust, please visit www.alphapyreneestrust.com.