CIREF LIMITED ("CIREF")

Transaction in own shares and TVR

CIREF announces that it purchased 287,500 Ordinary Shares at a price of 127 pence per share. The purchased shares will be held as treasury shares.  Following the above purchase, the Company holds 1,567,323 Ordinary Shares in Treasury.

The Company has 73,037,251 Ordinary Shares in issue (excluding treasury shares). 

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules. 

Contacts

Powerscourt            

Elizabeth Rous +44 (0)207 250 1446

Matthew Fletcher +44 (0)207 250 1446

About CIREF

1. CIREF is a property investment and development company incorporated on 28 September 2005 under the laws of Jersey which immediately after incorporation acquired the assets of the Corovest International Real Estate Fund. It invests in commercial real estate primarily in the UK and Europe, with a focus on retail and commercial assets. CIREF's current investments are in the UK and Europe and it will continue to look for value-enhancing opportunities in the UK, Europe and possibly opportunities in other geographic markets.

2. As at 31 March 2008 the portfolio consisted of 26 investments, including:

• four large integrated town centre developments;

• a supermarket and home depot centre in Switzerland;

• a portfolio of 26 Kwik-Fit properties located throughout the UK;

• office buildings in Jersey and London;

• three UK shopping centres;

• 22 UK petrol filling stations; and

• four German portfolios which consist of inter alia, shopping centres, supermarkets, petrol stations and a medical centre

. 

3. The strategy of the Group comprises four distinct yet complementary elements: stable income projects; major development projects; value-enhancing projects and investments in property collective investment vehicles and property companies. The resources of the Group are intended to be allocated across all four elements with the intention of providing shareholders with a balanced exposure both to lower risk, income-generating assets and assets that have the potential to provide a higher capital return.

4. The Group has an experienced board of eight non-executive directors. Five of the directors are connected to the Investment Manager.

5. Further information on CIREF can be found at www.ciref.je

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