Tender Offer Authority

Queen's Walk Investment Limited
02 August 2007


                            Form of RNS Announcement



    Queen's Walk Investment Limited proposed tender offer and notice of EGM


Queen's Walk Investment Limited (the 'Company') announces that at its Annual
General Meeting to be held on 3 September 2007 shareholders will be asked to
authorise the Company to purchase up to 14.99 per cent. of the Company's issued
share capital (the 'General Authority'). Also on 3 September 2007, at an
Extraordinary General Meeting ('EGM') that will follow the Annual General
Meeting, shareholders will be asked to approve the waiver from Rule 9 of the
City Code on Takeovers and Mergers by the Panel on Takeovers and Mergers as set
out in more detail in the circular convening the EGM which has been sent to
shareholders today.


On or about 5 September 2007 and following announcement on 4 September 2007 of
the Company's unaudited results for the quarter ended 30 June 2007, the Company
proposes to make a tender offer to buy back at least 10 per cent. of the
Company's issued share capital (the 'Proposed Tender Offer').


The Proposed Tender Offer will be conditional on shareholder approval at an
extraordinary general meeting notice of which will be set out in the formal
tender offer document, and on shareholder approval of the General Authority. In
order to ensure that utilisation of any combination of the General Authority and
Proposed Tender Offer will not exceed 24.99 per cent. of the Company's issued
share capital, the General Authority will not be utilised during the period in
which shareholders may tender their Ordinary Shares pursuant to the Proposed
Tender Offer. The Company will not seek to buy back more than 24.99 per cent. of
its issued share capital through any combination of the General Authority and
the Proposed Tender Offer without first seeking further shareholder approval.


Copies of the circular to shareholders together with equivalent documents
relating to the extraordinary general meeting which was held on 18 June 2007
will be available for inspection at the UK Listing Authority's Document Viewing
Facility which is situated at the Financial Services Authority, 25 The North
Colonnade, Canary Wharf, London E14 5HS. Copies of these documents can be
obtained from the Company Secretary.


For further information please contact:


Investor Relations:

Caroline Villiers [phone]


Company Secretary:

Kleinwort Benson (Channel Islands) Fund Services Limited [phone]










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