The Property Investment Market is closed

Due to the credit crunch and other market uncertainty we have been unable to secure the necessary finance required to continue operations. Consequently, we are obliged to cease the provision of exchange services and would like to thank each and every one of you for your generous support and custom over the last few years. What does this mean for your investment?

• Any uninvested cash in your account has now been sent back to the bank account you used to deposit the money with us. A few of these payments have been returned to us – probably because you may have changed bank accounts and not informed us in the meantime. We have written separately to those clients for whom updated bank details are required and if you have received such correspondence you should respond as quickly as possible so that your cash can be returned to you. In the interim, funds yet to be returned are held in a client money back account under appropriate client money protections.

• In order to release the money you invested in properties on the exchange the individual companies in which you own shares need to sell the properties. You, the shareholders, have already voted to sell these properties and the process has begun. Once the properties have been sold the net proceeds will be distributed pro rata to shareholders. Please be aware that it can take some time to achieve property sales, particularly in a difficult market. Assets of these individual companies are under shareholder ownership and entirely separate and distinct from the assets of the exchange and its operating companies. Your interests in the individual companies will be unaffected by the cessation processes pertaining to the exchange and its operating companies.

In order to provide a single point of contact we will be using our support email support@tpimarket.com both to answer your general queries and to provide progress updates on the sale of properties. Should you not obtain any satisfaction from support then please write to compliance@tpimarket.com

The website will cease to operate on 31 March 2008. Please make sure that you print or save any statements or records that you may need such as your portfolio or your tax vouchers. If you have never used the tax voucher section before, just log in, click on 'My account' then click the button on the left hand menu marked 'Tax Vouchers'.

Once again, all of us at TPIM would like to thank you for your support.

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