GERMAN LISTED BONDS PLC
(the "Issuer")
(incorporated with limited liability in England and Wales
with registration number 11272857)




Issue / Sale of Bonds

German Listed Bonds Plc 4.75% Bonds due 2022 (ISIN: XS1856028342) and 6.5% Bonds due 2022 (ISIN: XS1856028425)

(the "Bonds")

German Listed Bonds Plc 4.75% Bonds due 2022 and 6.5% Bonds due 2022 (the "Bonds")

The Issuer is pleased to announce today that it has issued and sold an initial EUR5,340,000 in principal amount of its Bonds under its secured Medium Term Note bond programme (the "Programme") established by the Issuer for the issue of bonds to fund German Real Estate development and to match the origination pipeline of the property adviser. This will enable the initial deployment process to begin and the issuer plans to have 12 further tap issuances of fungible notes over the course of the next 6 months. The next available tap issuance will be at the end of October 2018.

In accordance with the terms and conditions of the Bonds, the Bonds are available to institutional investors and the net proceeds will be on-lent to specialist German Real Estate developers up to a maximum of 75% of the Loan-To-Value on current market value taken by 2 independent valuation agents, with SHB Property Advisers acting as the property adviser.

About the Property Adviser - SHB
SHB is a strategic property advisor focusing on the German Residential Real Estate Market. The directors of the business have a strong track record of advising on successful Real Estate transactions in Germany totalling more than EUR250m

Contacts

For the arranger: Kate Hatton

0203 397 9912

IMPORTANT INFORMATION

This announcement is not itself an offer for the sale of any Bonds. Investors should not subscribe for any Bonds referred to in this announcement except on the basis of information in the programme listing particulars which are available on request. The distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any Bonds.

Any Bonds referred to herein will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). Subject to certain exceptions, such Bonds may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons. Any Bonds referred to herein are expected to be offered and sold outside of the United States in reliance on Regulation S of the Securities Act. There will be no public offering in the United States.

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