NEPR Nthn. Euro.

RNS Number:8689L
Citigroup Global Markets Limited
10 November 2006



10 November 2006

NORTHERN EUROPEAN PROPERTIES LIMITED STABILISATION NOTICE

Northern European Properties Limited - Offer of 333,333,332 Ordinary Shares of
no par value each

This stabilisation notice is issued in connection with the offering by Northern
European Properties Limited of 333,333,332 Ordinary Shares and a further
50,000,000 Ordinary Shares which may be used to stabilise the issue.

Pursuant to rule 3060 of the London Stock Exchange rules.  Citigroup Global
Markets UK Equity Limited ("Citigroup"), notifies you that it is the stabilising
manager in the above securities in relation to the above transaction.

Citigroup confirms the following;

1.     The securities concerned are ordinary shares of of no par value, the
ISIN number of these securities is JE00BIG3KL02

2.     The stabilising manager is Citigroup Global Markets UK Equity Limited 
(contact Darrell Uden, Tel: +44 20 7986 0410)

3.     Stabilisation transactions may be undertaken by Citigroup from 08:00am on
10 November 2006 to 9 December 2006 inclusive, stabilisation transactions are
aimed to support the market price of the relevant securities;

4.     The issue price of the Ordinary Shares (the "Issue Price") has been set
at Euro1.05 per Ordinary Share

5.     No other associated securities are being stabilised

6.     Stabilisation may occur on the London Stock Exchange. There is no 
assurance that it will be undertaken and it may be stopped at any time;

7.     For the purposes of stabilisation, an additional amount of upto 15% of
the total number of ordinary shares may be overalloted. For the purpose of
covering any short positions arising from the overallotment, Northern European
Properties Limited has granted to Citigroup an option pursuant to which on
behalf of the underwriters, Citigroup may require Northern European Properties
Limited to issue up to an additional 15% of the total ordinary shares. The
option may or may not be exercised in whole or in part, upon notice by
Citigroup at any time on or before the 30th calander day after the commencement
of conditional dealings in the ordinary shares.


Stabilisation / FSA



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