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Acquisition of Midsummer Place, Milton Keynes

Intu today announces that it has agreed terms with Legal & General Property to acquire Midsummer Place Shopping Centre, Milton Keynes (“Midsummer Place” or the “Centre”) for a total cash consideration of £250.5m (the “Acquisition”) before expenses, representing a net initial yield of 5.1%, based on current net rents of £13.4m and a nominal equivalent yield of 5.5%.

Commenting on the Acquisition David Fischel, Intu’s Chief Executive, said:

"We are delighted to have agreed terms to acquire this prime asset which addresses a gap in our UK regional coverage. As well as strong current operating metrics and good demographics, Midsummer Place offers considerable scope for rental growth. The acquisition fits well with our strategy of focusing on the best shopping centre destinations across the country."

Completion of the Acquisition is expected to take place at the end of March 2013.

The full announcement which contains the investment rationale and key facts on Midsummer Place and Milton Keynes is available for download.

Enquiries:

Intu Properties plc

David Fischel

Chief Executive

+44 (0)20 7960 1207

Matthew Roberts

Finance Director

+44 (0)20 7960 1353

Kate Bowyer

Investor Relations Manager

+44 (0)20 7960 1250

Public relations

UK:

Michael Sandler/Wendy Baker, Hudson Sandler

+44 (0)20 7796 4133

SA:

Nick Williams/Vanessa Hillary, College Hill

+27 (0)11 447 3030