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


                                                                                   21 February 2017

NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (SOUTH AFRICAN RAND)

On 9 February 2017, Schroder European Real Estate Investment Trust plc (the "Company")
announced its first interim dividend for the period to 30 September 2017 of 1.0 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 21 February 2017 and is
set out below:


    Declared dividend           Exchange rate       Dividend in South African cents per share


   1.0 euro cents per share         13.85250                          13.85250


Dividend tax will be withheld from the amount of the gross dividend of 13.85250 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 11.77463 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
FTI Consulting                                                   Tel: 020 3727 1000

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

JSE Sponsor: PSG Capital Proprietary Limited

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