IMPORTANT INFORMATION FROM FPI

In light of the recent liquidity issues prevalent within the property funds industry, Thames River Capital (CI) Ltd, the managers of the underlying asset of the FPIL Thames River Property Growth and Income Fund (P57), a fund not authorised in Hong Kong and not available to Hong Kong residents, have decided to take action to seek to protect the interests of continuing shareholders.

Accordingly, with immediate effect, Thames River will apply the fund’s anti-dilution procedures in connection with the calculation of dealing prices, as provided for in the fund’s offering memorandum.

The dilution adjustment on the underlying fund is likely to result in the redemption price of shares being lower than the subscription price.

As a result, Friends Provident International will move the pricing basis of the mirror fund mentioned above to a contraction or expansion basis as the unit movement dictates. This is a normal procedure for mirror funds and Friends Provident International believe it to be the most equitable way of treating all shareholders.

Should you require further information, please contact Funds Marketing & Research Team on +44 1624 821212 or email fund.research@fpiom.com