*Pre Rights Issue in March 2009.

†Scrip dividend alternative offered.

Property Income Dividend – payment gross of tax

As a UK REIT (Real Estate Investment Trust) the Group is obliged to make distributions in the form of Property Income Distributions (PID’s) of at least 90% of its net property income (less capital allowances). PID’s will be paid under deduction of withholding tax. However, there are provisions in the regulations for gross payments to be made to those who qualify (Corporate holders as set out in Regulation 7 of Statutory Instrument 2006, number 2867).

Gross payment will be made to UK based institutions that meet the requirements of Regulation 7, all overseas based shareholders, even if eligible for gross payments under Regulation 7, will be paid net and will have to seek reclaim direct from HM Revenue and Customs.

Examples of UK institutions that may be eligible for gross payment are:

• UK Companies;
• Charities;
• Local Authorities;
• UK Pension Schemes; and
• Managers of PEPs, ISAs and Child Trust Funds.

If you believe you are eligible for gross dividend payment and have not completed a ‘Declaration for Gross PID payment’ form please complete the appropriate form below and return it direct to our registrars, Computershare Investor Services PLC. If you have a query relating to PID payment please contact the registrars at the address below.

• Intermediary Declaration for Gross PID payment download
• Beneficial Owner Declaration for Gross PID payment download

Computershare Investor Services PLC

PO Box 82
The Pavilions,
Bridgwater Road
Bristol BS99 7NH
Telephone 0870 702 0003