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RNS Number : 2025A

Taliesin Property Fund Limited

18 December 2014

Taliesin Property Fund Limited

("Taliesin" or the "Company")

Privatisation update

In Taliesin's interim results released on 27 August 2014, it was reported that the Company was at an advanced stage of preparation for its first privatisation. The Board of Taliesin is therefore pleased to announce it has taken the first sale reservation for a residential unit in its Warschauerstrasse project at a price of EUR3,644 per square metre. Further sales are expected as the refurbishment work on this project proceeds, with completion around mid 2015.

This sale is the first step in demonstrating the full value of the Company's property portfolio through the sale of individual apartments. The realised price per square metre follows significant refurbishment expense incurred on the property, but still illustrates the potential upside to the value of the Taliesin portfolio which is carried at a value of EUR 1,575 per square metre as at 30 June 2014.

It is expected that sales of the second privatisation project in Kavalierstrasse (Pankow, in the north of Berlin) will commence in early 2015 and a number of apartments have been made vacant in anticipation. This property was subject to a complete refurbishment and roof build-out in 2010 and requires very little in the way of additional investment to prepare for sales.

For further information, please contact:

Taliesin Property Fund Limited

   Mark Smith, Director      01534 700 000

Westhouse Securities Limited

   Alastair Moreton             020 7601 6118

This information is provided by RNS

The company news service from the London Stock Exchange

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