Transaction in Own Shares

Local Shopping REIT (The) PLC
18 January 2008



The Local Shopping REIT plc


18 January 2008

Transfer of Treasury Shares to Employee Benefit Trust

In accordance with its obligations under rule 12.6.4 of the Disclosure and
Transparency Rules The Local Shopping REIT plc ('the Company') announces that on
17 January 2008 the Company transferred 25,000 of the Company's ordinary shares
of nominal value of 20 pence out of treasury to the trustee of the Company's
employee benefit trust, LSR Trustee Limited ('the Trustee'). No consideration
was paid for the shares transferred.

The shares were transferred to the Trustee for the purpose of satisfying awards
made by the Trustee under the Company's Long Term Incentive Plan when such
awards are exercised.

Following the transfer The Local Shopping REIT plc holds 7,528,750 ordinary
shares in treasury and has 92,964,040 ordinary shares in issue (excluding
treasury shares).


Enquiries:

Bill Heaney
Company Secretary
020 7187 4444

END




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