Statement re Possible Offer

GENERAL TEXT AMENDMENT

The following amendment has been made to the 'Statement re. possible offer for Kenmore European Industrial Fund Limited ("KEIF")' announcement released on 11 March 2010 at 17.08 under RNS No 4713I

The following numerical point has been inserted:

4. there is a material change of circumstances at KEIF, including, inter alia, the announcement of a significant equity fundraising by KEIF.

All other details remain unchanged.

The full amended text is shown below.

Hansteen Holdings plc

("Hansteen" or "the Company")

Statement re. possible offer for Kenmore European Industrial Fund Limited ("KEIF")

On 25 November 2009 Hansteen announced that it had acquired a stake of approximately 12.0 per cent. in KEIF and had made an approach to the Board of KEIF in relation to a potential offer by Hansteen for the remaining issued and to be issued ordinary share capital of KEIF. In accordance with Rule 2.8 of The City Code on Takeovers and Mergers (the "Code") Hansteen announces that it is no longer considering making an offer for KEIF.

Important Notice:

For the purposes of Rule 2.8 of the Code, Hansteen reserves the right (on behalf of itself and anyone acting in concert with it) to announce an offer or possible offer for KEIF and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within the six months from the date of this announcement in the event that:

1. the agreement or recommendation of the Board of KEIF is given to the making of such an offer or the taking of any such other action;

2. a third party announces an offer or a possible offer for KEIF;

3. KEIF announces a 'whitewash proposal' or a 'reverse takeover' (each as defined in the Code); or

4. there is a material change of circumstances at KEIF, including, inter alia, the announcement of a significant equity fundraising by KEIF.

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