Hansteen (LSE: HSTN), the UK and Continental European property investment company, announces that it has acquired a further 24.2 million units in the Ashtenne Industrial Fund ("AIF") for £11.0 million, reflecting a price per unit of 0.4537 pence. This acquisition, which represents 4.0% of the units, increases Hansteen's unit-holding in AIF to 40.8%.

AIF owns some 13.6 million sq ft of multi let industrial properties in the UK. At 30 June 2014, the portfolio consisted of 3,285 units, on 269 individual estates, with an annual rent roll of £39.2 million and vacancy of 18.1%. The gross asset value of the properties was £447.7 million. In December 2014, Hansteen completed the sale of eleven UK assets from AIF, in three separate transactions, for a combined price of £43.9 million.

Hansteen acquired 27.5% of the AIF units for £53 million, in September 2013, and assumed the management contract of the fund from Warner Estates. In March 2014, the Company acquired a further £26 million of units, increasing its holding by 7.0%.

Morgan Jones, Joint Chief Executive of Hansteen, said: "We have taken this opportunity to add to our interest in the Ashtenne Industrial Fund, as we believe there is scope for growth in both value and income".

For further information:

Ian Watson / Morgan Jones Jeremy Carey / Faye Walters
Hansteen Holdings PLC Tavistock
Tel: 020 7408 7000 Tel: 020 7920 3150

Notes to Editors:

HANSTEEN HOLDINGS PLC

Hansteen Holdings PLC (LSE: HSTN) is a European industrial REIT that invests in properties with high yields, low capital costs and opportunity for value improvement across Germany, the UK, the Netherlands, Belgium and France.

Founded by Morgan Jones and Ian Watson, the Company listed on Aim in November 2005 raising £125 million. In 2009, it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter.  In April 2011, the Company raised a further £150 million by way of a Placing and Open Offer. In March 2014 the Company raised £46.3 million from the Placing of 44.8 million shares.

At 30 June 2014, the portfolio under management comprised 4.4 million sq m and was valued at over £1.6 billion.

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