The Local Shopping REIT plc

Investment Adviser

The directors of The Local Shopping REIT plc (the "Company") announce that they have been informed by the Company's investment adviser, Internos Global Investors Limited ("Internos"), that its parent company has been acquired by Principal Global Financial Services (Europe) II Ltd, a subsidiary of Principal Financial Group Inc, an entity listed on the NASDAQ Stock Market.  In consequence of this transaction, Internos has changed its name to Principal Real Estate Limited.

Enquiries:

Bill Heaney, Company Secretary                                                        +44 20 7355 8800

Rupert Wallman, Fund Manager                                                        +44 20 7355 8800