Transaction in Own Shares

16 September 2013

ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")

TRANSACTION IN OWN SHARES

Alpha Real Trust announces that on 13September 2013 it purchased 100,000 ordinary shares of no par value ("Ordinary Shares") at a price (before expenses) of 51.5 pence per share. The purchased Ordinary Shares will be cancelled together with 11,111 shares currently held in treasury which are being cancelled following the purchase to ensure that the Company holds no more than 10 per cent. of its share capital in treasury pursuant to Guernsey law.

The ordinary share capital of the Company following the purchase and cancellation of those Ordinary Shares which are to be repurchased will be 59,983,005 (including 5,998,300 shares held in treasury).

The total voting rights in Alpha Real Trust following the purchase and cancellation of the Ordinary Shares will be 70,963,855.

The total voting rights figure (70,963,855) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Alpha Real Trust under the FCA's Disclosure and Transparency Rules.

For further information please contact:

Alpha Real Trust Limited

David Jeffreys, Chairman, Alpha Real Trust +44 (0) 1481 231 100

Brad Bauman, Joint Fund Manager, Alpha Real Trust +44 (0) 20 7268 0300

Panmure Gordon, Broker to the Company

Richard Gray / Andrew Potts +44 (0) 20 7886 2500

Further information on the Company can be found on the Company's website: www.alpharealtrustlimited.com.