SCHRODER EUROPEAN REAL ESTATE INV TRUST PLC - Notice Of Dividend Currency Exchange Rate (South African Rand)

Notice Of Dividend Currency Exchange Rate (South African Rand)

Schroder European Real Estate Investment Trust plc
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77

NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (SOUTH AFRICAN RAND)

On 14 December 2016, Schroder European Real Estate Investment Trust plc (the
“Company”) announced its second interim dividend for the period to 30 September
2016 of 0.9 euro cents per share.

The currency exchange rate applicable for the dividend payable in South African cents
to shareholders on the South African register is based on the exchange rate on 3
January 2017 and is set out below:


 Declared dividend            Exchange rate                Dividend in South
                                                           African cents per share

 0.9 euro cents per share     14.28500                     12.85650


Dividend tax will be withheld from the amount of the gross dividend of 12.85650 South
African cents per share paid to shareholders on the South African register at the rate
of 15 per cent unless a shareholder qualifies for exemption.

After the dividend tax has been withheld, the net dividend will be 10.92803 South
African cents per share.

For the avoidance of doubt, dividend tax, and therefore the information provided in this
announcement, is only of direct application to shareholders on the South African
register.

Enquiries:

Duncan Owen/Tony Smedley
Schroder Real Estate Investment Management Limited           Tel: 020 7658 6000

Ria Vavakis
Schroder Investment Management Limited                       Tel: 020 7658 2371

Dido Laurimore                                               Tel: 020 3727 1000
FTI Consulting

Shareholders on the South African branch register should direct any questions
regarding the application of the dividend tax to the Company’s Transfer Secretary:

Computershare Investor Services (Pty) Limited
Rosebank Towers, 15 Biermann Avenue
Rosebank, 2196, South Africa
Postal Address - PO Box 61051
Marshalltown 2107
Telephone +27 11 373 0033
Facsimile +27 11 688 5218
Email enquiries: web.queries@computershare.co.za

3 January 2017
PSG Capital Proprietary Limited

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