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Derwent London plc (“Derwent London”) announces that its wholly-owned subsidiary, Derwent London Capital (Jersey) Limited (“DLCJ”), has today sent out notices to redeem all outstanding Convertible Bonds 2016 (“the Bonds”) on 30 January 2015 at their principal amount together with any accrued interest. As an alternative to the redemption of its Bonds, each Bondholder may exercise its Conversion Right by delivering a Conversion Notice.

The Bonds were issued on 2 June 2011 paying a coupon of 2.75% per annum and with a redemption date of 15 July 2016. This was the first issue of convertible bonds by a UK Real Estate Investment Trust (“REIT”) and the conversion price of £22.22 represented a premium of 30% over the Reference Share Price of £17.09. The EPRA net asset value per share of the Derwent London plc group (“the Group”) as at 30 June 2011 was £16.21.