OPF Off-Plan Fd

RNS Number:1856C
Off-Plan Fund Limited (The)
16 August 2007


For Immediate Release                                           16 August 2007



                            The Off-plan Fund Limited
                                        
                                        
                             Valuation Announcement



The Board of The Off-plan Fund Limited (the "Fund"), which specialises in
providing forward finance to UK housebuilders, is pleased to announce the Fund's
quarterly valuation for the period ending 30 June 2007.



   *Using Red Book* valuations for the underlying properties, the estimated
    net asset value of the Fund was #11.1m (99.4p per share) (99.3p as at 31
    March)


   *The net asset value of the Fund prepared under historical cost convention
    as at that date was #9.52m (85.3p per share) (84.6p as at 31 March)



* The nature of the Fund's investments mean that, under current accounting
standards, the discounts to market value achieved by the Fund, cannot be
recognised in the reported balance sheet. The Fund therefore obtains an
independent 'Red Book' valuation of the assets within the property portfolio in
order that shareholders can identify this additional value. The Red Book is the
Asset Valuation Practice and Guidance Notes of the Royal Institution of
Chartered Surveyors and is the industry standard method for valuing investment
properties. The valuations were prepared by independent surveyors as at 31 March
2007, the date of the last interim financial statements




List of Contacts

Development Capital Management

Roger Hornett

Andy Gardiner

020 7399 4270


Numis Securities

Bruce Garrow

Charles Farquhar

020 7776 1500


Buchanan Communications

Charles Ryland

Isabel Podda

020 7466 5000






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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