Kenmore Property Group - Appointment - Berlin, Germany

Date: 19 May 2008

Kenmore Property Group is pleased to announce the appointment of Thorsten Wagner, as Investment Manager in its Berlin office.

The appointment closely follows the recruitment of Alexandra Huther to head up the asset management team in Berlin and Katharina Molina to support her, and echoes the company's growth in the German markets.

Thorsten has over six years of property experience. He joins from Atisreal in London, where he worked in the International Investment team and focussed on cross-border investment into Western Europe. Client experience ranges from European closed-end funds to Morley, Credit Suisse, EDF, Resolution and Lafarge.

Kenmore has been active in Germany since 2005 and established its first office in Berlin in May 2007. It currently holds over €277 million of assets under management, based on cost value.

Daniel Hermann, Managing Director of Kenmore's German operations, commented:

"Following its rapid growth across the German sector, Kenmore has made a succession of strategic appointments to further enhance its presence and seize new opportunities. We are delighted to welcome Thorsten on board and look forward to the experience and skill set that he will add to the team."

Thorsten Wagner, Investment Manager