Sells Stenham Sells Prominent London Property 9 February 2010: Stenham Property today announced that it has completed the sale of 52 Grosvenor Gardens which it acquired nine months ago from Grosvenor Estates. In May 2009 it purchased the 93,000 sq.ft. leasehold mixed-use property in Victoria, London for £25 million. In December 2009, the property was placed under offer for just over £40 million, resulting in an uplift in value of over 60% during the period. Stenham purchased the property with approximately 40,000 sq.ft. of office space vacant and a further 10,000 sq.ft. where leases were due to expire in 2009. The investment rationale was to refurbish and let the vacant space, renew the expiring leases and implement a cost reduction programme to reduce occupational costs to tenants. Within nine months the entire asset management strategy had been implemented successfully. All leases had been renewed, the property fully refurbished and let to five new occupiers including MWB and Capital & Regional. Service charges were reduced by over 35%. Paul Arenson, Managing Director of Stenham Property, commented: ‘We are extremely proud of what we have achieved over these past 9 months with 52 Grosvenor Gardens. Our achievements with this particular property demonstrate our prowess for investing in properties where real value can be added through an active asset management strategy. Indeed, this is our current strategy for commercial property acquisition at this time.’ Andy Taylor, Head of UK Property, added: ‘I am delighted that we have been able to demonstrate the core investment and asset management strengths of our business to our investors in a timescale which was well ahead of expectations. Our strategy to grow income and enhance value through active asset management was achieved by refurbishing vacant space, letting-up vacant floors, renewing leases and reducing running costs. The result has been that the refurbishment was delivered on time and under budget, the property is fully let with secure income until 2013 at which time a comprehensive refurbishment of the property could be undertaken in a rising market.’ In Autumn 2009, Stenham launched its UK4 Commercial Property Fund. The fund’s remit is to take advantage of the value in the UK property market by acquiring properties with underlying sustainable rents and which offer the ability to grow income through active management utilising Stenham’s core in-house asset and project management skills. Stenham Property currently has approximately £2 billion of assets under management of which approximately one third is located in the UK. Over the past three years, the company has focused more heavily on opportunities in Germany, Switzerland and Japan, and since 2009, has been turning its attention back to the UK. Ends- Ends- For further information, please contact: Sudha Bharadia, Head of Marketing and Communications Email: email@example.com Tel: +44 (0) 20 7079 6711 property [Photos of property available on request] NOTES TO EDITORS Stenham Property is a focused Property Fund Manager and is currently invested in over £2 billion of property assets spread across the UK, Germany, Switzerland and Japan. It has a successful track record of performance in acquiring and selling property investments. Stenham Property is part of the Stenham Group, which provides investment management services, and financial solutions and products to high net worth private clients and institutions. Stenham Group currently has approximately US$ 6 billion under management, split between its property and asset management businesses. The Stenham Group operates from a network of global offices including the Channel Islands and the UK with offices in five other countries around the world.