20 August 2010
ING UK REAL ESTATE INCOME TRUST LIMITED
Result of Annual General Meeting
At the Annual General Meeting held on 19 August 2010 all Resolutions on the Form of Proxy were passed, including the following Special Resolutions and Extra Ordinary Resolution;
Special Resolution 1
IT WAS RESOLVED to approve the changes to the Investment Policy of the Company as stated below:
(a) the investment policy shall be amended by the inclusion of the following sentence after the first sentence: "The Company may invest in real estate derivative instruments, real estate debt or the debt securities of other real estate issuers.";
(b) the restriction in paragraph (c) shall be deleted and replaced with the following: "not more than 20 per cent of the Gross Assets of the Company (consolidated where appropriate) will be lent to or invested in the securities of any one company of group (excluding loans to or shares in the Company's own subsidiaries) at the time when the investment or loan is made; for this purpose any existing holding in the company concerned will be aggregated with the proposed new investment";
(c) the deletion of the restriction in paragraph (f); and
(d) the addition of a new restriction as follows: "the Company shall not invest more than 10 per cent of its Gross Assets in real estate derivative instruments, real estate debt or the debt securities of other real estate issuers (excluding debt securities issued by the Company's own subsidiaries)."
Special Resolution 2
IT WAS RESOLVED to adopt the New Memorandum and Articles of Incorporation produced to the Meeting and initialled by the Chairman of the Meeting for the purposes of identification (the "New Articles") in substitution for, and to the exclusion of the entirety of, the existing Memorandum and Articles of Incorporation.
Extra Ordinary Resolution
IT WAS RESOLVED THAT conditional on Special Resolution 2 being passed, to empower the Directors of the Company to dis-apply the right of shareholders to receive a pre-emptive offer pursuant to Article 4.17 of the New Articles provided that this power shall be limited to the issue of up to 34,444,884 Ordinary Shares (being equal to 10 per cent. of the Ordinary Shares in issue as at the date of this Notice) and shall expire (unless previously renewed, varied or revoked by the Company in a
general meeting) at the end of the Annual General Meeting of the Company held in 2011, or, if earlier, the date falling 15 months after the date of this Resolution, but during this period the Company may make offers, and enter into agreements, which would, or might, require Ordinary Shares to be issued (and treasury shares to be sold) after the power given to the Board pursuant to this Resolution ends and the Board may issue Ordinary Shares (and sell treasury shares) under any such offer or agreement as if the power had not ended.
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
St Peter Port
Tel: 01481 745529
Fax: 01481 745085