Legal &General Property - Appointment - UK

Date: 19 Aug 2008

Legal& General Property ("LGP"/"Company") is pleased to announce that it has appointed Paul Edwards to the LGP Board as Director with effect from 1st August 2008.

Reporting to LGP's Managing Director, Bill Hughes, Paul will take on a range of new responsibilities, including assessing investment opportunities for LGP within the industrial sector in Europe and overseeing the current and future corporate governance framework for LGP's unlisted property fund structures. In addition, Paul will continue to be responsible for the management and further evolution of the Industrial Property Investment Fund, which has grown from assets under management of £96 million in 1998 to £975 million during his involvement, in large part due to its strong track record of relative outperformance.

Paul's career at LGP began in September 1990, when he joined the Company as a graduate. He has since worked on LGP's West End retail and office portfolio, and has been central to the launch of a number of its funds.

Paul's promotion to the board follows the appointment of Andy Banks as Finance Director just a few weeks ago.

Bill Hughes, Managing Director, commented:

"With a team made up of such a large number of talented and experienced people at LGP, I am keen to ensure that individuals with the potential to do more for the business are given every opportunity to do so. Paul has been with Legal & General Property for almost 18 years, gathering a broad range of experience from across the industry. Most notably, over the past ten years, Paul has steered the Industrial Property Investment Fund to considerable success, achieving an enviable record of relative outperformance and exceeding its benchmark consistently since its inception. He has shown real energy and enthusiasm for the future of the property fund management business here and I am confident he will make a considerable contribution to the Board as we continue to drive LGP forward."

Paul Edwards, added:

"I very much look forward to my new role on the LGP Board and working with my colleagues as we increase the scope and range of LGP's Funds, to further enhance LGP's position as a leading property fund management business."

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