TIDMDREF

RNS Number : 3264L

Duet Real Estate Finance Limited

24 April 2015

24 April 2015

Duet Real Estate Finance Limited

("DREF" or the "Company")

Investment Update

The board of the Company is pleased to announce that the full repayment of all principal and accrued interest has been received on the Master Fund's German Retail loan (Loan 7), earning returns in-line with its investment criteria. The Company's share of proceeds realised by the Master Fund totals GBP4.4 million, equivalent to 5.98 pence per share. Furthermore, the Company has received notice from the General Partner of the Master Fund that it has cancelled GBP0.7 million of uncalled commitment reflecting the reduced residual value of the investment portfolio as a consequence of recent realisations and distributions.

The Company intends to distribute its share of the realised proceeds pertaining to capital received from the Master Fund, including the cash held by the Company no longer required to fund the uncalled commitment referred to above, after the deduction of costs and expenses of this distribution along with amounts to be withheld for working capital and for any continuing purchases of the Company's own shares under the Buyback Programme, alongside its next quarterly dividend as a return of capital via an issue of redeemable B shares to existing shareholders and subsequent redemption of those shares pro rata to their holding at the time of the relevant issue.

The Company will issue further details concerning the return of capital along with a dividend, net asset value and investment update in May 2015. Further details of the capital return mechanism are summarised in the Company's Prospectus, which may be accessed via the Company's website (www.dreflimited.com).

For further information, please contact:

   DRC Capital LLP                        +44 (0)20 7042 0600

Dale Lattanzio

Cyrus Korat

   Stifel Nicolaus Europe Limited                 +44 (0)20 7710 7600

Neil Winward

Mark Bloomfield

Tunga Chigovanyika

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFIRSSISFIE

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