14 May 2010 – interim management statement

The improvement in market conditions reported in the six months to 31 December has continued into 2010 and the group is well positioned to take advantage of any sustained improvement in the economic environment.  The group continues to look for new investment opportunities both in its property portfolio and car parking business and it has significant headroom in its banking facilities.  At the half year end at 31 December, net asset value per share was 257p, so the shares stand at a discount of almost 39% to this.  The interim dividend was raised by 10% and a similar increase at the year end would leave the shares yielding over 5.6%.  BUY FOR INCOME AND GROWTH