Director/PDMR Shareholding

Local Shopping REIT (The) PLC
03 May 2007



The Local Shopping REIT plc


3 May 2007

Notification of transactions of Directors and persons discharging managerial
responsibility ('PDMRs')

The Local Shopping REIT plc ('the Company') announces that on 2 May 2007 the
trustee of the Company's employee benefit trust, LSR Trustee Limited ('the
Trustee'), subscribed for and was allotted 641,521 of the Company's ordinary
shares of nominal value of 20 pence. These shares were acquired for the purpose
of covering the following awards made by the Trustee to executive directors and
PMDRs under the Company's Long Term Incentive Plan ('the LTIP'):

Directors:
                      Shares subject to award

Nicholas Gregory      298,850
Michael Riley         298,850
Victoria Whitehouse    16,522

PDMRs:

Christopher Moulden    27,299


The awards may be exercised by the recipients after 2 May 2010 subject to the
prior achievement of performance conditions determined by the Company's
Remuneration Committee. The persons listed above therefore have a beneficial
interest in the shares acquired by the Trustee, subject to the rules of the
LTIP. No money was paid for the grant of the awards.

Enquiries:

Bill Heaney
Company Secretary
020 7187 4444

END




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