Statement by General Partner

2005-10-262005-11-11TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk259412703/2732703/273

Statement by General Partner

LIMITED PARTNERSHIP ACT 1907

THE DUNDAS COMMERCIAL PROPERTY FUND II

(Registered in Scotland Number SL005240)

Notice is hereby given, pursuant to section 10 of the Limited Partnership Act 1907, that on 26 October 2005, Mary Kate Gray transferred to Derek Gray the whole of the interest held by her in The Dundas Commercial Property Fund II, a limited partnership registered in Scotland with SL005240. Accordingly Mary Kate Gray ceased to be a Limited Partner in The Dundas Commercial Property Fund II and Derek Gray has assumed the interest transferred by Mary Kate Gray.