Cancellation of Share Premium

London & Stamford Property Ltd
01 February 2008


                       LONDON & STAMFORD PROPERTY LIMITED

                               Registered Office:
         2ND FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,
                      GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.
                          ___________________________

                          TELEPHONE:  + 44 1481 720321
                          FACSIMILE:  + 44 1481 716117
                            e-mail:  [e-mail]


For immediate release                                       01 February 2008

                       London & Stamford Property Limited

                         CANCELLATION OF SHARE PREMIUM

London & Stamford Property Limited ('the Company') is pleased to announce that
the Royal Court of Guernsey has today confirmed the reduction of the Company's
capital, by way of cancellation of the amount standing to the credit of the
Company's share premium account.

As envisaged by the Company's AIM admission document dated 2 November 2007, the
amount cancelled (£248,596,816) has been credited as a distributable reserve in
the Company's books of account and may be applied to the extent and in any
manner in which the Company's profits available for distribution are able to be
applied under Guernsey law, including the purchase of the Company's own shares
and the payment of dividends.  Application to the Court was made pursuant to a
resolution of the then shareholders of the Company on 30 October 2007, prior to
the recent placing of the Company's ordinary shares and their admission to
trading on AIM.

For further information contact:

London & Stamford Property Limited
Tel: [phone]
Mandy Trotter, Company Secretary

KBC Peel Hunt
Tel: [phone]
Capel Irwin / Deon Veldtman

Gavin Anderson & Company
Tel: [phone]
Richard Constant / Charlotte Stone / Anthony Hughes


ENDS












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