Puma Brandenburg

In March 2006 Shore Capital raised £185m in new equity for Puma Brandenburg Limited ("Puma Brandenburg"), a property fund managed by a subsidiary of the Group, Puma Property Advisors Limited ("PPAL"). The fund's strategy is to invest in a diversified portfolio of residential and commercial real estate in Germany.

The initial investment focus was Berlin but the Company has since made acquisitions throughout Germany. The current €700 million is expected to total €1.2 billion when fully invested, includes a 28 acre housing estate in Berlin-Neukölln, an 88,000 sqm office complex in Frankfurt, the Cologne Hyatt Regency and other residential and commercial assets in Berlin and throughout western Germany.

For more information please visit www.pumabrandenburg.gg