23 May 2017

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS WAREHOUSE AND OFFICE PROPERTY IN IVRY-SUR-SEINE, FRANCE

Alpha Pyrenees has sold a warehouse and office property, of approximately 7,420 square metres, located in Ivry-sur-Seine, France for €2.88 million.

The purchaser is SADEV94 the developer of the ZAC Ivry Confluences.

The sale forms part of the orderly realisation process supported by the Trust's lender, Barclays Bank PLC, and the net proceeds from this sale will be used to reduce the Trust's bank borrowings.

As the Board has previously stated, the sales process will not result in any return to ordinary shareholders after repayment of the Trust's bank borrowings has taken place, to the extent that this is possible.

The Trust will provide further updates in due course.

For further information:

Serena Tremlett, Chairman, Alpha Pyrenees Trust Limited             01481 231100

Paul Cable, Fund Manager, Alpha Real Capital LLP                       020 7391 4700

For more information on the Trust, please visit www.alphapyreneestrust.com.