Changes to Board Composition

To: RNS

Date: 24 March 2015

From: F&C Commercial Property Trust Limited

Changes to Board Composition

The Board has previously stated that it did not anticipate making any
significant changes to its composition in advance of the refinancing of the
bonds and continuation vote. Following the successful outcome of both of these
matters towards the end of 2014, the Board conducted a review of its
composition and has put in place a plan of refreshment.

At the year-end, the Board comprised six Directors, three of whom had served
since the Company's launch in 2005. All three have indicated that they will
retire in succession which allows refreshment of the Board without loss at one
time of the embedded industry, Company and shareholder knowledge and experience
they each represent.

Nick Tostevin, who has been a Director since 2005, will retire from the Board
at the Annual General Meeting on 28 May 2015.The Board would like to thank Nick
for his outstanding contribution and commitment to the Company over this time,
both as a Director and as the Chairman of the Audit Committee.

Following a formal recruitment process, the Board is pleased to announce the
appointment of two new independent non-executive Directors, Peter Cornell and
David Preston, both of whom will join the Board on 1 May 2015 and stand for
election at the Annual General Meeting on 28 May 2015.

Peter Cornell was, until 2006, Global Managing Partner of Clifford Chance. He
then joined Terra Firma Capital Partners where he was Managing Director until
2011. He was a non-executive director of Circle Holdings plc from 2011 to 2013.
Peter is a founding partner of Metric Capital partners in Guernsey and has a
wealth of legal and commercial experience which will be of significant benefit
to the Board.

David Preston is Managing Director of First Names (Guernsey) Limited, a
Guernsey based fiduciary and fund services business. He is a director of a
number of regulated, un-listed open and closed-end real estate funds invested
in the UK, Europe, Asia and the USA. He is a Chartered Accountant and has
significant property, financial, corporate administration and regulatory
experience.

There is no information required to be disclosed pursuant to LR 9.6.13R in
relation to either of the above appointments.

Following these appointments and Nick Tostevin's retirement, the Board will
comprise seven Directors for a transitional period. One further long serving
Director will retire at the Annual General Meeting in 2016, thereby taking the
number of Directors back to six. It is the Board's intention to continue to
review and refresh its composition mindful that, with a Guernsey resident
majority established, the next replacement can be made from a broader and
diverse universe of non-executive directors irrespective of whether or not
conversion to onshore UK REIT status becomes in the best interests of
shareholders.

Trudi Clark will become Chairman of the Audit Committee following Nick
Tostevin's retirement and the Board has also decided that, in accordance with
best practice for FTSE 250 companies, it should appoint a Senior Independent
Director. Martin Moore will be appointed to this position immediately following
his re-election at the Annual General Meeting.

All enquiries to:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St.PeterPort
Guernsey GY1 3QL

Tel: [phone]
Fax: [phone]