Director/PDMR Shareholding

REAL ESTATE CREDIT INVESTMENTS LIMITED
                   (formerly QUEEN'S WALK INVESTMENT LIMITED)
                                (the "Company")

                     Announcement to London Stock Exchange

                                Issue of Shares
                              Director's Interests

The Board of Directors of Real Estate Credit Investment Limited (formerly Queens
Walk Investment Limited) advises that, with the recent completion of the Placing
and  Open Offer and  subsequent Bonus of  Preference Shares the  Company now has
39,966,985 Ordinary  Shares  and  49,958,704 Preference  Shares  thus  the total
amount of shares in issue is 89,925,689.

The  Company has  been advised  by all  the directors  of the  Company that they
participated  in the offer and completion of  the above issue has affected their
holdings and associated parties as reflected in the table below.

+-----------------+----------+----------+-----------------+-------------+
|Director         |Pre issue |Post issue|Preference shares|Total holding|
|                 |Ord Shares|Ord Shares|                 |             |
+-----------------+----------+----------+-----------------+-------------+
|Tom Chandos      |16,000    |24,000    |30,000           |54,000       |
+-----------------+----------+----------+-----------------+-------------+
|Oliver Chandos   |1,000     |1,500     |1,875            |3,375        |
|Benedict Chandos |1,000     |1,500     |1,875            |3,375        |
|Rosanna Lyttelton|1,000     |1,500     |1,875            |3,375        |
|                 |          |          |                 |             |
+-----------------+----------+----------+-----------------+-------------+
|Chris Spencer    |1,000     |1,500     |1,875            |3,375        |
+-----------------+----------+----------+-----------------+-------------+
|Talmai Morgan    |1,000     |1,500     |1,875            |3,375        |
+-----------------+----------+----------+-----------------+-------------+
|John Hawkins     |1,000     |1,500     |1,875            |3,375        |
+-----------------+----------+----------+-----------------+-------------+
|Graham Harrison  |1,000     |1,500     |1,875            |3,375        |
+-----------------+----------+----------+-----------------+-------------+

For further information:

 Investor Relations
 Natalie Withers
 Tel: [phone]


 M: Communications
 Caroline Villiers
 Tel: [phone]
 Mob: [phone]

 James Wallis
 Tel: [phone]
 Mob: [phone]

 Company Secretary
 Kleinwort Benson (Channel Islands) Fund Services Limited
 Tel:  [phone]






[HUG#1447132]








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Source: Queens Walk Investment Limited via Thomson Reuters ONE