Great Portland Estates PLC 13 December 2006 13 December 2006 Extraordinary General Meeting - proposed amendments to the Articles of Association to facilitate conversion to a UK-REIT The Board of Great Portland Estates announces that Shareholders have today voted overwhelmingly in favour of the Resolution proposed at the Extraordinary General Meeting to amend the Articles of Association to facilitate the Group's conversion to a UK-REIT. By converting to a UK-REIT the Group will: eliminate the Group's contingent corporate tax on chargeable gains of approximately £108 million (as at 30 September 2006); become largely exempt from future corporation tax, and immediately enhance both the Group's triple net asset value and adjusted earnings per share. Timon Drakesmith, Finance Director said: "With market conditions in central London favouring our disciplined and focused approach to the creation of value, we remain confident that, in the new UK-REIT environment, we will continue to deliver attractive returns for our shareholders." Contacts: Great Portland Estates plc 020 7647 3000 Toby Courtauld, Chief Executive Timon Drakesmith, Finance Director Copies of the Resolution passed at the Extraordinary General Meeting will be available shortly for inspection by the public during normal business hours on any weekday (except public holidays) at the UK Listing Authority's Document Viewing Facility, which is situated at the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS (tel. +44 (0)20 7676 1000). Terms used in this announcement have the same meaning as in the Circular to Shareholders dated 15 November 2006. This information is provided by RNS The company news service from the London Stock Exchange