Update on Loan Facilities

1 May 2013

ALPHA UK MULTI PROPERTY TRUST PLC (the "Company")

Update on Loan Facilities

CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited

The loan facility of £54.1 million, with a current outstanding balance of £48.2 million, provided by Bank of Scotland in respect of the Company's wholly owned subsidiaries, CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited, expired on 30 April 2013.

The Company announces today that CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited have agreed with Bank of Scotland to amend the loan facility agreement such that the term of the facility is extended to 31 July 2013.

The facility is non-recourse to the Company.

Discussions with Bank of Scotland and alternative banks and providers of capital are continuing in order to pursue a further extension to, or refinancing of, this loan facility.

There are no current intentions to enter into an interest rate swap or other hedging agreement.

Further information will be provided in due course.

Contact:

Jonathan Clague

Chairman, Alpha UK Multi Property Trust Plc

Tom Pissarro

Fund Manager, Alpha Real Capital LLP

020 7268 0300