Share Capital Changes

RNS Number:7600F
Speymill Deutsche Immobilien Co PLC
16 October 2007


Speymill Deutsche Immobilien Company PLC ("SDIC" or "the Company")

Reduction of Share Premium and Redenomination of Share Capital into Euros

Speymill Deutsche Immobilien Company PLC (AIM: SDIC, SDCC) announces that,
further to receiving shareholder approval at the extraordinary general meeting
held on 9 May 2007, inter alia, to reduce the share premium in relation to the C
shares and redenominate its share capital into Euros, on 9 October 2007 it was
granted an Order from the High Court of Justice of the Isle of Man giving
approval for the Company to cancel its share premium account arising on the
issue of its C shares and for such amount to be credited as a distributable
reserve.

The Company was granted a further Order from the High Court of Justice of the
Isle of Man on 9 October 2007 confirming that it may cancel its entire share
capital by extinguishing and cancelling all of the issued and unissued ordinary
shares of 10 pence each ("Existing Ordinary Shares") and C shares of 50 pence
each ("Existing C Shares") in the Company for the purposes of redenominating the
shares of the Company from Sterling into Euros. Following the granting of this
Order, with effect from close of trading on Tuesday, 16 October 2007, the
Company will:

   *cancel all of the Existing Ordinary Shares and Existing C Shares; and

   *in the place of the Existing Ordinary Shares so cancelled, allot and
    issue new paid up euro ordinary shares with a nominal value of 5 euro cents
    each ("New Ordinary Shares") and in the place of the Existing C Shares so
    cancelled, allot and issue new paid up euro C shares with a nominal value of
    25 euro cents each ("New C Shares").

The effective date of redenomination of all shares into euros will be 16 October
2007.

It is expected that the opening quoted market price of the New Ordinary Shares,
in Euros, will be calculated using the mid-point Sterling-Euro exchange rate in
London as derived from Reuters at 4.00 pm on 15 October 2007. The New C Shares
will continue to trade at the quoted market price of the Existing C Shares which
were quoted in Euros from their admission to trading on AIM in May 2007.

16 October 2007

For further information, please contact:

Azhic Basirov / Siobhan Sergeant
Smith & Williamson Corporate Finance Limited                     020 7131 4000

James King
Fairfax I.S. PLC                                                 020 7460 4371

Galileo Fund Services Limited
Ian Dungate/ Suzanne Jones                                       01624 692600


Notes to editors:

- Speymill Deutsche Immobilien Company plc is a pan-German residential property
investment company which listed on AIM on March 2006, raising #170 million on
admission.

- In May 2007, the Company raised a further EUR250 million through a placing of 
C Shares which were admitted to trading on AIM on 10 May 2007.

- The Company was established to invest in the German property market and, 
predominantly, in the residential sector. It is anticipated that once fully 
invested, the Company will have a balanced portfolio of properties throughout 
Germany.

- The Company's objective is to provide Shareholders with an attractive level of
income together with the prospect for long-term capital growth.

- The Manager is Speymill Property Managers Limited and the Investment Adviser 
is GOAL Service GmbH. The Manager and Investment Adviser are responsible for 
identifying new investment opportunities.

- The Manager is a subsidiary of Speymill Group plc (AIM: SYG) while the 
Investment Adviser is a joint venture partner of Speymill Group plc (which owns 
51% of the venture).



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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