AGM Statement

RNS Number:8394O
Local Shopping REIT (The) PLC
27 February 2008

27 February 2008

                          THE LOCAL SHOPPING REIT PLC

                            ("LSR" or the "Company")

                                 AGM STATEMENT

At The Local Shopping REIT plc's Annual General Meeting being held today,
Grahame Whateley, Chairman, will make the following comments:

"Since our IPO in May 2007, there have been some marked changes in market
conditions and sentiment.

"We strongly believe, however, that the nature of our diversified portfolio,
with its highly revenue generative qualities and broad range of usage classes,
provides underlying strength and relative resilience.  The Directors are drawing
on their many years of experience to adapt our business model appropriately to
these market conditions and take advantage of opportunities as they arise.  They
consequently continue actively and prudently to assess potentially accretive
acquisitions created by the current market conditions, to ensure that they are
in line with our investment model and stringent acquisition criteria.

"Ongoing value generation is also being maintained through our active asset
management programmes, our ability to identify and exploit development
opportunities and through the sale of ex-growth and lower yielding properties.
This activity and our focused strategy ensures that we are well positioned to
prosper and deliver future shareholder value."

For more information please contact:

The Local Shopping REIT plc                                   Tel: 020 7292 0333
Mike Riley/Nick Gregory

Financial Dynamics                                            Tel: 020 7831 3113
Stephanie Highett/Richard Sunderland/Jamie Robertson

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