Summit Properties Limited

("Summit" or the "Company")

Portfolio Update

31 December 2019

Summit Properties Limited, the German commercial property company, announces that further to its announcement of 19 June 2019 regarding the disposal of a German office building for a cash consideration of €225 million, the conditions precedent for completion of the disposal have been satisfied and completion is expected today.

In addition, a 77% owned subsidiary of the Company has signed an agreement to acquire an office building of 4,700 sqm in Hannover for ca. €6.5 million. The acquisition improves the Company's presence in this location as the acquired property is attached to another property owned by the Company.

For further information please contact:

Summit Germany Limited

Tel: +44 (0) 1481 700 300

Zohar Levy - Managing Director

Itay Barlev (Braun) - Finance Director

Non-Executive Chairman

Tel: +44 (0) 20 7451 7050

Harry Hyman

Carey Group, Company Secretary

Tel: +44 (0) 1481 700 300

Chris Le Page / Nikolett Mezei

Liberum Capital Limited, Nominated Adviser and Joint Broker

Tel: +44 (0) 20 3100 2222

Chris Clarke / Gillian Martin / Owen Matthews

Cenkos Securities, Joint Broker

Tel: +44 (0) 20 7397 8900

Mark Connelly

Russell Kerr / Selwyn Jones (Broking)

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Disclaimer

Summit Properties Ltd. published this content on 31 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 December 2019 07:56:01 UTC