Disposal

Shires Income PLC
22 August 2007


Shires Income Plc
Sale of investment in GIM Holdings

The Board of Shires Income plc ('Shires') announces that Shires has today
entered into an Agreement with Aberdeen Asset Management PLC ('AAM') for the
sale to AAM of its 49.9% shareholding in GIM Holdings Limited ('GIMH'). The
Agreement is conditional only on FSA approval of a change of control. The
consideration is £3,118,750 in cash plus an additional amount in cash equal to
49.9% of the net asset value of GIMH and its subsidiaries (as determined by
completion accounts).

The Shires Board has been informed that a further agreement has today been
entered into between the shareholders of Sutherland Holdings Limited ('
Sutherland') and AAM for the sale to AAM of the entire issued share capital of
Sutherland. Sutherland holds the remaining 50.1% shareholding in GIMH.

GIMH is the holding company of Glasgow Investment Managers Limited ('GIM'). GIM
is the investment manager of Shires pursuant to an Investment Management
Agreement dated 23rd March and 10th April 2006 (the 'IMA'). Shires has been
informed that the managers currently employed by GIM to manage the Shires'
portfolio will continue to manage the portfolio following completion of the
sale. It has been agreed that the IMA will continue on its current terms.



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