TR1 Announcement

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

CLOSE HIGH INCOME PROPERTIES PLC

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights 

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify): Conversion of 'D' Ordinary Shares into Ordinary Shares

3. Full name of person(s) subject to the notification obligation:

PROPERTY INVESTMENT PORTFOLIO PLC

4. Full name of shareholder(s) (if different from 3.):

-

5. Date of the transaction and date on which the threshold is crossed or reached:

30 DECEMBER 2009

6. Date on which issuer notified:

30 DECEMBER 2009

7. Threshold(s) that is/are crossed or reached:

-

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

ORDINARY SHARES

D ORDINARY SHARES

12,495,444

8,900,000

12,495,444

8,900,000

15,731,807

-

18.71%

-

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

Ordinary Shares - 15,731,807

18.71%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

-

Proxy Voting:

10. Name of the proxy holder:

-

11. Number of voting rights proxy holder will cease to hold:

-

12. Date on which proxy holder will cease to hold voting rights:

-

13. Additional information:

14. Contact name:

PETER ROSCROW

15. Contact telephone number:

020 7426 4000