ING UK Real Estate Income Trust Limited ('IRET')
Date 11 May 2009
FOR IMMEDIATE RELEASE
11 May, 2009
ING UK Real Estate Income Trust Limited
("IRET" or the "Company")
Update on the Proposed Re-structuring of the Company's
Securitised Loan Facility (the "Facility")
Following further discussions with noteholders, the Company proposes that the tender offer to purchase up to £35 million of notes under the Facility will be conducted at par. The tender offer(s) are conditional upon noteholders approving the proposed re-structuring of the Facility that was announced on 17 April 2009.
Shareholders should note that whilst noteholders have been consulted on the proposed amendments, these will only become effective if approved at the noteholder meeting on 12 May 2009. Such approval will require 75 per cent. of noteholders present and voting at the meeting to vote in favour of the proposed amendments.
Details of the first tender offer are expected to be sent to noteholders in July 2009 and will be announced to the market at that time. Further information on the proposed re-structuring of the Facility and the noteholder notice of meeting is available on the Company's website - www.ingreit.co.uk.
For further information:
ING Real Estate Investment Management (UK) Limited
Michael Moris, 020 7767 5648, email@example.com
Helen Stott, 020 7767 5648, firstname.lastname@example.org
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
St Peter Port
Tel: 01481 745814
Fax: 01481 745085