Fifth Special Opportunities Fund

The Fund was launched in May 2004 with the objective to invest in commercial property development projects, typically valued between £1m and £5m.  The Fund was launched in conjunction with Palmer Capital Partners Limited, whose development companies manage the developments within the Fund.

Following delays in committing the original funds raised, investor consent was received to use other joint venture partners.

The Fund has undertaken eleven projects in total of which four are now complete.  A number of unit sales across the ramaining schemes have also been made.

Key Facts
Launch Date	May 2005
Final Allotment Date	24 August 2004
Activity	Commercial Development
Equity	£17.83m
Original Fund Size	£24.1m
* No assurance or guarantee can be given that targeted returns will be achieved.