Close High Income Properties PLC

Close High Income Properties PLC (“CHIP”) invests into commercial property to deliver returns to private investors seeking high income, solid asset backing and capital growth over the medium to long term. CHIP should be attractive for private investors and may be held in an Individual Savings Account (there is a 0.5% annual management fee for the ISA plan manager); it is also suitable for inclusion in Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSAS).

The Company’s objective is to provide Shareholders with a high level of income together with the prospect of capital growth from investing in a diversified portfolio of UK commercial property.

CHIP current annual distribution is 6.5 pence per Ordinary Share per annum*.  Dividends are paid on a quarterly basis.  Future dividends are likely to be paid out of distributable capital reserves rather that revenue reserves as has been the case until March 2008. 

As of 9 October the Company has suspended dividend payments to "D" Ordinary Shareholders until further notice.

CHIP’s property portfolio is as follows:

Source: Close Investments as at 30 June 2008

Close High Income Properties PLC is a closed-ended, Isle of Man registered, property investment company, the Ordinary Shares, and ‘D’ Shares are listed on the London Stock Exchange.

* No assurance or guarantee can be given that the target return will be achieved.