FINANCIAL PRESS RELEASES

As announced on 30th November 2012, the Group's primary focus continues to be negotiations with its three lenders; Barclays Bank PLC (“Barclays”), Lloyds Banking Group (“Lloyds”) and an affiliate of The Royal Bank of Scotland (“the RBS Affiliate”) (in which a Blackstone fund has a minority interest and which is advised by Blackstone Real Estate Debt Advisors ("BREDA")) (together the "Lenders").

As announced on 29 November 2012 in the Company’s Half Year Accounts, Mr J R Avery and Mr K A Holman resigned as Directors of the Company with effect from today’s date.

Half Year Report and Accounts for the six months ended 30 September 2012.

Warner Estate announces that following a competitive tender process it has appointed PKF (UK) LLP as auditor of the Company and its subsidiaries commencing with the financial year ending 31 March 2013.

At the Annual General Meeting of Warner Estate held today, resolutions 1 to 12 included in the Notice of the Annual General Meeting were carried on a show of hands.