Statement by General Partner

Partnership Act 1890Financial Services and Markets Act 20002006-06-092006-07-102006-07-18Limited Partnerships Act 1907TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211,

Notice is hereby given, pursuant to section 10 of the Limited Partnerships Act 1907 and section 36(2) of the Partnership Act 1890, that on 10 July 2006, under the Scheme pursuant to Part VII of, and Schedule 12 to, the Financial Services and Markets Act 2000 and approved by the Court of Session on 9 June 2006, under which substantially all of the long-term business of The Standard Life Assurance Company (“SLAC”) transferred, or is to transfer, to Standard Life Assurance Limited, a Company incorporated in Scotland with number SC286833 (“SLAL”), SLAC transferred to SLAL its entire limited Partnership interest in Standard Life Investments European Property Growth Fund L.P. (the “Partnership”), and accordingly SLAL has become a limited Partner in the Partnership and SLAC has retired and ceased to be a Partner in the Partnership. For and on behalf of Standard Life Investments (Corporate Funds) Limited acting in its capacity as Manager of Standard Life Investments European Property Growth Fund L.P. 10 July 2006.