Successful fundraising of £26 million

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

This announcement is not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer or invitation to sell, issue, purchase or subscribe for, or any solicitation of any offer to sell, issue, purchase or subscribe for, any shares in the Company or securities in any other entity nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. This announcement does not constitute a recommendation regarding any securities.

Duet Real Estate Finance Limited

(the "Company")

Successful fundraising of £26 million

The Board of Directors is pleased to announce the Company has raised gross proceeds of £26 million through its placing of new ordinary shares ("New Ordinary Shares"), at an issue price of 100.25 pence per New Ordinary Share.

This has been an excellent result in an extremely difficult and volatile market. The placing will enable the Company to increase in scale and increase its exposure to the European Real Estate Debt Fund L.P (the "Master Fund"), assisting the Master Fund in achieving its objectives.

Applications have been made to the UK Listing Authority and to the London Stock Exchange for 25,976,249 New Ordinary Shares to be admitted to the Official List and to trading on the London Stock Exchange. It is expected that such admissions will become effective and that dealings in the New Ordinary Shares will commence on 19 August 2011. The New Ordinary Shares will, when issued, rank pari passu in all respects with the existing issued Ordinary Shares, including the right to receive dividends and distributions declared after the date of issue of the New Ordinary Shares.

Commenting on the fundraising, Quentin Burgess, Chairman, said:

"We are pleased by the response from investors in a volatile market and continue to see a strong pipeline of attractive opportunities from the Master Fund."

For further information, please contact: