Blackrock International Land sells UK office building

Blackrock International Land plc is pleased to announce that it has completed the sale of an office investment in Milton Keynes for €3.85 million, considerably higher than the property's valuation at last year end. This transaction is the company's second disposal in 2010, having sold a warehouse and office facility in Dundalk earlier in the year for €2.9 million.

This latest disposal, which was concluded with a UK property investment company, comprised a 1,570m² office building located at Silbury Boulevard, Milton Keynes, that is currently occupied by Royal Bank of Scotland under a lease that is due to expire in 2014.

In March this year, the company reported that it had disposed of a 3,700m² vacant industrial premises to Warner Chilcott, the international pharmaceutical manufacturer. The building formed part of the group's 17,000m² warehouse and office complex at Xerox Office Park, Dundalk.

Commenting on the transaction, Robert Knox, managing director of Blackrock International Land plc, said:

"We are pleased that, despite the challenging operating environment, we have completed our second disposal in 2010 on very satisfactory terms."

Blackrock International Land plc

17 June 2010

For further information, please contact:

Brian Bell, WHPR - Tel: +353-1-669-0030