Development Update

The MedicX Fund Limited
18 January 2007


For immediate release                                           18 January 2007


                              MedicX Fund Limited

                  ('MedicX Fund', 'the Fund' or 'the Company')


                               Development Update


MedicX Fund, the specialist investor in modern purpose built primary healthcare
properties, which on 2 November 2006 listed on the Official List of the London
Stock Exchange today announces that it has completed the development of its
Mablethorpe primary care centre for £6.55 million and that rent of £381,056 per
annum has commenced. Also announced is that the conditional purchase agreement
for Rothwell has now completed.


Of the 13 properties originally acquired by the Fund as part of the initial
portolio 11 are now completed and rented and the remaining two, Withymoor and
Rothwell, are subject to fixed price forward funding agreements with Primary
Asset the development company of the MedicX Group. The Fund is earning licence
fee income during their development. These properties are expected to complete
in April and November this year respectively.


                                      End


For further information please contact:

MedicX Group                                    [phone]

Keith Maddin, Chairman
Mike Adams, Managing Director

Buchanan Communications                         [phone]

Charles Ryland / Lisa Baderoon / Mary-Jane
Johnson




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