(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP JSE share code: STP
("Stenprop" or the "Company")


19 July 2018


   Shareholders are advised that, on 17 July 2018, Stenprop completed the disposal of two of its Swiss properties,
   Altendorf and Arlesheim, via the sale of the entire issued share capital of Polo Property GmbH ("Polo Property"), a
   wholly-owned indirect subsidiary of Stenprop, to Helvetica Swiss Commercial AG, a wholly owned subsidiary of
   Helvetica Swiss Commercial Fund ("HSC") a real estate fund focused on Swiss property regulated by the Swiss
   Financial Market Supervisory Authority FINMA and managed by Helvetica Property Investors AG, Zurich, licensed
   and regulated by FINMA as its Fund Manager Swiss fund (the "Purchaser").

   Shareholders are further advised that three subsidiaries of Stenprop also entered into agreements for the disposal
   of five additional Swiss properties, being Baar, Vevey, Montreux, Chiasso and Sissach, as asset sales to the
   Purchaser. The aggregate consideration for these disposals is CHF76.35 million (#58.73(1) million) (the
   "Consideration"), to be settled in cash. The combined transactions value the seven properties at CHF103.65 million
   (#79.73 million) compared with the valuation at 31 March 2018 of CHF103.23 million (#79.41 million).


   Stenprop has previously announced its intention to become a specialised UK multi-let industrial ("MLI") REIT and,
   over the next few years, to sell substantially all of its non-MLI assets and utilise the sale proceeds to build a focused
   UK MLI business. It has also previously announced its intention to dispose of its Swiss portfolio in line with this


   The sale and purchase agreement for the disposal of Polo Property was signed and simultaneously closed on
   17 July 2018 (the "Polo SPA").

   The asset disposals of Baar, Vevey, Montreux, Chiasso and Sissach are subject to individual and separate sale and
   purchase agreements (the "SPAs"). The Vevey and Montreux SPAs closed on 18 July 2018. The Baar and Sissach
   SPAs became unconditional on 18 July and are expected to close on 19 July 2018 or shortly thereafter.

   The Chiasso SPA remains subject to the release of security by the lender, and is expected to become unconditional
   and close shortly. Failure to close before 30 September 2018 will result in termination of the Chiasso SPA.

   The total consideration for Baar, Vevey, Montreux, and Sissach is CHF57.55 million (#44.27 million). The
   consideration for Chiasso is CHF9.40 million (#7.23 million). The total consideration for the shares in Polo Property
   is CHF9.40 million (#7.23 million), which is subject to a potential post-completion adjustment based on Polo
   Property's audited financial statements at 30 June 2018.

   (1) An exchange rate of #1:CHF1.30 has been used in this announcement

   Stenprop has provided a surety undertaking for the obligations of its subsidiaries under the Polo SPA and the SPAs,
   limited to a total value of CHF6 million (#4.6 million). Normal warranties and indemnities for transactions of this
   nature have been provided by the relevant subsidiaries of Stenprop.


                                                                               Valuation    Consideration        Net profits
                                                                  Weighted      (CHF'000)       (CHF'000)    attributable to
                                                                   average                                    the properties
                                                                rental per                                      for the year
                                                                    square                                    ended 31 March
    Property                                             GLA         metre                                              2018
    name         Geographic location     Sector          (m2)     (CHF m2)                                             (CHF)
                 Oberdorfstrasse 2,
    Baar                                 Retail        3 995           371        20,430           22,700          1,059,133
                 6340 Baar
                 Place de la Gare 5,     Mixed-
    Vevey                                              1 506           212         5,900            5,900             93,616
                 1800 Vevey              use
                 Grand Rue 3, 1820       Mixed-
    Montreux                                           4 198           291        25,290           24,500            590,839
                 Montreux                use
                 Via Livio 1, 6830
    Chiasso                              Office        4 183           150         8,650            9,400            302,837
    Sissach                              Retail        1 694           130         3,820            4,450            (11,101)
                 30, 4450 Sissach
                 Zurcherstrasse 104,
    Altendorf                            Retail        8 228           196        26,450           25,200*          1,022,818
                 8852 Altendorf
                 Fabrikmattenweg 2-4,    Mixed-
    Arlesheim                                          4 834           218        12,690           11,500*            674,920
                 4144 Arlesheim          use
    Total CHF                                         28,638           228       103,230          103,650           3,733,061

    Total GBP                                         28,638           176        79,408           79,731           2,871,585

   * The consideration shown in the table above for the properties Altendorf and Arlesheim is the gross consideration paid for
   them. The net consideration paid for the shares of Polo Property after taking into account debt, deferred tax and other net
   current assets was CHF9.4 million.

   The value attributable to the properties was determined in accordance with Royal Institution of Chartered
   Surveyors standards by Roger Meeds, a director of Jones Lang LaSalle Limited, who is an external valuer registered
   with the Royal Institution of Chartered Surveyors. These valuations were reflected in Stenprop's consolidated
   statement of financial position at 31 March 2018.


   The combined transactions are classified as a category 2 transaction in terms of the JSE Listings Requirements.
   Accordingly, it is not subject to approval by shareholders.

   Stenprop was advised by CBRE Switzerland, McCafferty Asset Management AG and Walder Wyss Ltd.

For further information:

Stenprop Limited                                                     44(0)20 7079 6600
Paul Arenson
Patsy Watson
Julian Carey

Numis Securities Limited (Financial Adviser)                         44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
Tavistock (PR Adviser)                                               44(0)20 7920 3150
James Whitmore
James Verstringhe
Kirsty Allan

Instinctif Partners (SA Investor Relations and PR Adviser)           27 (0)11 447 3030
Keagile Makgoba

Java Capital Trustees and Sponsors Proprietary Limited               27 (0)11 722 3050
(JSE sponsor)

About Stenprop:

Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to
its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI)
properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to