Tems of Reference of the Audit Committee
("The Committee") (approved at a meeting of the Audit Committee held on 22 June 2011)

1. INTRODUCTION

It has been determined to establish an audit committee.
Copies of the Combined Code, the Financial Reporting Council guidance on audit committees
and the Disclosure Rules and Transparency Rules, should members of the Committee need to
consult them, can be obtained from the Investment Adviser.

2. TERMS OF REFERENCE TO BE MADE AVAILABLE

The Committee should make available these terms of reference explaining its role and the
authority delegated to it by the board of directors of the Company (the “Board”). (The
requirement to make this information available would be met by making such information
available on request and including these terms of reference and such explanation on the
Company website.)

  Please follow this link to download the complete Terms of Reference document as a PDF

Publication of Prospectus

Real Estate Opportunities plc (the "Company") has today published a prospectus approved by the UK Listing Authority in relation to the issue and admission to the Official List (standard category) of up to 111,336,528 new ordinary shares, being issued in connection with the restructuring of its 7.5% Convertible Unsecured Loan Stock and Zero Dividend Preference Shares.

A copy of the prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. Copies of the prospectus are also available in electronic form on the Company's website at www.realestateopportunities.co.uk.

  Please follow this link to download the Prospectus as a PDF