Phoenix Spree Deutschland : Interim Dividend Declaration - Correction

26 September 2017

Phoenix Spree Deutschland Limited

('the Company')

Interim Dividend Declaration - Correction to Timetable

In relation to the interim results announcement released at 7am today (26 September 2017), PSDL, the UK listed investment company specialising in German residential real estate, would like to correct the dividend timetable for the interim dividend declared in that announcement. The correct record date, ex-dividend date and payment dates are set out below.

The Board has declared an interim dividend €2.28 cents per share (GBP 2.0 pence per share) for the first half of the year. The interim dividend is expected to be paid on or around 20 October 2017 to shareholders on the register at close of business on 6 October 2017, with an ex-dividend date of 5 October 2017.

For further information please contact:

PMM Partners (Property Advisor)

Mike Hilton +44 (0)20 3937 8760

Paul Ruddle Mathew NorthoverStuart Young

Liberum Capital Limited (Corporate Broker)

Richard Crawley +44 (0)20 3100 2222

Christopher Britton

Tulchan Communications (Financial PR)

Tom Murray +44 (0)20 7353 4200