1 December 2016

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

The Board of Alpha Real Trust Limited (the "Company") notes the earlier announcement by Industrial Multi Property Trust PLC ("IMPT") regarding the posting of a circular to its shareholders (the "Circular") convening an extraordinary general meeting of IMPT ("EGM"). The EGM will include the two resolutions requisitioned by the Company calling for the removal of Jonathan Clague and Donald Lake as directors of IMPT.

As announced on 15 November 2016, the Company believes that the directors of IMPT are not actively considering a debt refinancing strategy, which the Company believes would be in the best interests of all of the shareholders of IMPT.

The Company intends to respond with an update in due course.

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 7391 4700

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.