Letter to Shareholders

Wynnstay Properties PLC 12 January 2001 WYNNSTAY PROPERTIES PLC ('the Company') The Company has today written to shareholders, notifying them that the Directors have resolved that the Company's shares be eligible for electronic settlement and that this will become effective immediately prior to CRESTCo Limited granting permission for the shares to be transferred by means of the CREST system. The letter also refers to the Notice convening an Extraordinary General Meeting of the Company to be held on 6th February 2001 to amend Articles 2,11 and 92 of the Articles of Association to modernise the requirements for use of the Company Seal and to provide for a Securities Seal to be kept for the sealing of share certificates without the requirement of signatures. Finally, the letter confirms that Capita IRG are to be appointed as registrars to the Company with effect from 6th February 2001.